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Investment moot: Money in the bank

Investment moot: Money in the bank

Pakistan needs billions of dollars investment in various sectors of the economy, including infrastructure, industry, energy and natural resources . The government has allowed foreign investors to hold 100 percent equity and that too without fixing a slab for the transfer of profit to the countries of their origin. Special offers are extended to those who will invest in the infrastructure and large-scale manufacturing units.

The private sector has been playing very active role in the development of market-based economy for the last many years and Pakistan has outperformed various emerging economies in agriculture and industrial sectors. However, political instability, law and order, and energy crisis remained a major contributors in slowing down the direct foreign investors in the country.

Addressing the opening session of the International Investment Conference, Prime Minister Nawaz Sharif spelled out the tremendous scope of investment opportunities in infrastructure, power generation and natural resources in Pakistan. He also referred to nearly 110 million strong workforce, who accounts for 60 percent of the total population; vast coastal line, which gives trade access to the central Asian countries, and big reserves of natural resources, which need to be taped. According to the prime minister, the government has started a comprehensive macroeconomic policy to increase revenue and curtail expenditures and has set the GDP growth target at 6 percent for the current year.

No doubt the prime minister has judiciously fought the case of Pakistan as a charming investment destination whereas the government is also considering waiving the upper limit on the foreign investment in the country.The Board of Investment has been directed to facilitate the investors by simplifying the investment procedure. However, it will be difficult to achieve the desired goals until the foreign investors are given guarantees for the security of their money and assets. The country is already facing energy crisis and hundreds of industrial units have been closed down due to shortage of electricity and gas. Regarding the investment conference, how many are its chances of success is anybody’s guess.