Friday, 19 July 2024, 04:25:03 am

Experts say SIFC can help attracting foreign investment in diverse areas
September 25, 2023

Dr. Talat Anwar (Economist): This is an extremely positive development. Finance Minister Dr. Shamshad Akhtar has appropriately emphasized the significance of ensuring a fair and level playing field for investors. Prime Minister Anwaar ul Haq Kakar has also engaged with foreign investors. Pakistan presents numerous enticing investment opportunities across various sectors, including agriculture, information technology, minerals, and industries. While investors have repeatedly expressed interest, they have encountered significant challenges stemming from bureaucratic red tape during the investment process. Fortunately, the government has already established the SIFC (Special Investment Facilitation Council) to address these issues. It is our hope that Pakistan will attract between fifteen to twenty billion dollars in investment during the current financial year. Such a substantial influx of investment is vital for stabilizing Pakistan's economy.

Qaiser Ahmed Sheikh (Industrialist, Ex MNA): In Pakistan, there exists substantial investment potential across every sector. Investors are keen to allocate their resources to Pakistan, primarily due to the favorable investment climate of the country. To harness this opportunity, it is imperative that we create a more investor-friendly environment. The petrochemical sector, in particular, holds significant promise. Currently, we expend a substantial amount of foreign exchange in this field, but we should instead focus on domestic production and exportation of petrochemical products. Additionally, we should prioritize the development of the electronics sector. Our agricultural industry can greatly benefit from foreign investment. Furthermore, the Information Technology and construction sectors also present substantial opportunities for attracting foreign investments. Leaders from various political parties, including PML (N), PPP, and JUI, have consistently stressed the need for a Charter of Economy. Approximately forty percent of our population lives below the poverty line, and the past five years have been marred by political blame games and turmoil. Therefore, it is now imperative for all national political parties to unite around a common agenda that prioritizes the welfare of the public.