Zombie investment

Over the past two decades, Pakistan has faced significant challenges due to a growing trend in land investments. Before the late General Pervez Musharraf’s era, it was uncommon for individuals to purchase plots solely as investments. Almost overnight, land prices began to soar, and a wave of speculation took hold. People started investing their savings in plots, believing it to be a profitable venture. Money that could have been used to establish businesses or industries was instead locked away in dormant land investments, contributing little to economic activity or employment generation.

Agricultural land began to be converted into residential housing schemes. Developers purchased farmland from farmers at high prices, transforming fertile agricultural areas into housing societies. For a country where agriculture supports a significant portion of the population, this trend is alarming. The government must act to halt the loss of agricultural land.

M Shamail Anwar

Karachi