Government to address key issues for escalating the inflow of foreign and investment-Yassar Sakhi Butt

  • December 10, 2011
Government needs to address the key issues of power shortage, poor infrastructure, poor governance, political turmoil, meager planning, deteriorating law and order situation and other key factors on priority basis to improve the fragile foreign investment condition and to put the country on the track of economic growth and development.

These remarks were made by Yassar Sakhi Butt, President Islamabad Chamber of Commerce & Industry (ICCI). He said that the perception about good image of Pakistan is needed to be improved to encourage foreign investors to invest in the country, adding that media could play a proactive role for positive image building of Pakistan as our country was ranked at No.1 place for ease in doing business and a lucrative destination for profitable investments.

He said that negative growth in the foreign investment would adversely affect the country’s economic growth. He was reacting to the World Bank report that foreign investment has declined by 60 percent in Pakistan against just 2 percent decline in India and 20 percent in Sri-Lanka while china, Indonesia and Bangladesh have achieved phenomenal economic growth by attracting foreign investment.

ICCI President said that economic managers should also device and implement growth oriented strategies to attract foreign investors for bringing the country out from the current serious economic turmoil. 

Yassar Sakhi Butt was of the view that Government could better cope up with the problems of poverty, unemployment, fiscal deficits and slow pace of development by attracting investment. He said that more FDI would create jobs, improve productivity, promote businesses, push up forex reserves and ultimately strengthen the economy.

ICCI President said that Government should maintain continuity of policies like other countries in the region and also develop a close liaison with businesses, industries and chambers within the country to increase investment opportunities.