LAHORE : Politics has to be separated from the economy by eliminating the political tensions and tensions created at the national level to improve the trade and investment environment in Pakistan.
For this, promotion of the best education, especially technical education is needed alongside ending the uncertainty as trade and commerce could not grow in such environment.
These views were expressed by the discussants in the Jang Economic Session on “How to improve trade and investment environment.” The panelists were Qaisera Sheikh, Dr Qais Aslam, Mehmood Ahmed, Sohail Lashari, and Amjad Ali Jawa while moderated by Sikindar Lodhi.
Qaisera Sheikh said the trade and investment is in crisis and sovereignty of country in danger. Image of Pakistan is damaged in the world while enemy is waiting for harming the country. The rising price of utilities has made the life of the commoners miserable. She observed the politicians approach the court when face issues but where the businessmen will go for solution of their problems. The business community, especially women entrepreneurs are disturb with current situation. She called for economic emergency and made national interest policies.
Dr Qais Aslam said it was unfortunate for a country having gold reserves but borrowing. He called for public interest policies formation to improve the environment while the size of the government should be small. Investments are coming to China and India because there is no electricity crisis, energy crisis, water and other problems. But in Pakistan, the interest rate has reached 15 percent while the production cost has increased and the profit has decreased. Women’s role in economic activities are negligible. For the improvement of the economy, we should increase the role of SME in the global market to reduce the trade deficit, domestic and foreign investment should be freed from the pressure of politics and bureaucracy, and empower youth and women with certification of international institutions.
Mehmood Ahmed said the political stability was important for the development of the country. It has become difficult to do business with prevailing situation. He asked for reducing the tax pressure to a minimum as in the past from the business. Political polarisation has become too much. The national development is impossible without political stability. The people are investing in real estate instead of trade and investment and our democracy is turning into a votocracy to purchase the votes to make government. The world is shifting to online but our online system is also made very difficult, some institutions like Passport and NADRA institutions have improved but business getting an NOC is also difficult for the business community.
Sohail Lashari said the trade and investment and the environment are two separate aspects. The political and social stability are necessary for the improvement of the environment while the trust plays the most important role in improving the environment while institutions are deteriorating due to the loss of trust. It will take two generations to improve the situation. He observed that the trade is very easy but we don't want to do anything while the investment is a challenge in current situation. We are investing in real estate instead of doing anything.
Amjad Ali Jawa observed that separating the economy from politics was the need of the hour. Like other countries, Pakistan should also separate investment and especially foreign investment from politics, and at the same time make long-term policies which will not be affected with change of any government.
