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Pakistan: Paradise for investment

AT a Roundtable Conference (RTC), organised by this newspaper as per its past practice, renowned economists, strategic experts and foreign envoys unanimously agreed that in view of the policies pursued by Pakistan during the last five years, the country is becoming virtually a paradise for investment. While Advisor to the Prime Minister on Finance Miftah Ismail said that with improved security situation Pakistan provides an enabling environment for investment in different sectors of its economy, National Security Advisor Nasser Khan Janjua asserted that with its rich human and material resources, Pakistan is becoming centre of connectivity for the world.
The RTC was an attempt by Pakistan Observer to complement efforts of the government and Board of Investment in promoting the country’s image as an attractive investment destination. Chairman BoI Naeem Zamindar, who has been instrumental in marketing Pakistan as favoured investment centre, told the audience that the country compares favourably to most South Asian countries in terms of time and cost required to start a business. With the passage of time, foreign investment has become easier and less costly in recent years and the continuous efforts of the government are yielding fruitful results. Chinese Ambassador Yao Jing, Turkish Ambassador Ehsan Mustafa and Ambassador of Azerbaijan also subscribed to the title of the RTC and lauded the economic policies and achievements of Pakistan despite various odds and challenges. This is, indeed, hard earned achievement given where the country stood in terms of its economic conditions when the present government took over in 2013. There can be no two opinions that three factors have contributed immensely in bringing about a fundamental change of perception and investment promotion. The government gave political patronage to the war against terror and the armed forces delivered on the ground and today business and economic activities have resumed with full speed in Karachi and security situation has considerably improved in Balochistan, KP and FATA. Secondly, huge Chinese investment under the umbrella of China-Pakistan Economic Corridor (CPEC) has served as motivation for investors around the world to launch new ventures and enter into partnership with local entrepreneurs. Thirdly, the government rightly focused on infrastructure development and mitigated woes of investors as far as energy shortage is concerned. We hope that these policies would be pursued with similar zeal in future for a major turnaround in economy as well as lot of the people.