Investment situation not as hopeless as being portrayed: BoI

The foreign direct investment (FDI) in Pakistan is presenting a very positive trend and the investment situation is not as hopeless as being portrayed by some elements. The Secretary Board of Investment (BoI) Tariq Iqbal Puri stated this while talking to the LCCI President Mian Muzaffar Ali on investment scenario in Pakistan.
He said that only because of huge undiscovered potentials in Pakistan and for having a unique food basket, a number of foreign investors are ready to come to Pakistan. Tariq Iqbal said business community needs to understand that economic issues being faced by the country were not going to stay for long and hopefully the situation would take a positive turn in next eight to nine months.
He said that the BoI, in collaboration with the government, is finding out sustainable and economically viable solutions to the challenges being faced by the business community. Special attention was being given to law and order and supply of electricity, he added.
Tariq said the restoration of confidence of the business community is another area, which is on the priority list of the government. He said that special economic zones were being carved out to attract direct foreign investment. Speaking on the occasion, the LCCI President Mian Muzaffar Ali said that drastic cut in government expenditures and enhanced productivity were the answers to the liquidity crunch.
He said that deteriorating law and order situation was not only spoiling Pakistan's perception but was also discouraging much-needed foreign investment and calls for well directed measures to control the situation which was getting out of hand with every passing day.
He said that government should focus on increasing production on sustainable basis besides exploiting fully the renewable energy resources to cope with the shortage of energy. The LCCI Senior Vice President Tahir Javaid Malik told the Secretary that the automotive sector was in bad shape and the local businessmen attached with this sector should be given protection. The former LCCI Presidents Tariq Hameed and Mian Mohammad Ashraf were of the view that a strong liaison between the policy makers and the stakeholders could also be helpful in bringing the country out of mire.