President American Business Forum (ABF) Salim Ghauri has expressed concern over dwindling Foreign Direct Investment (FDI) which dropped by 37 percent during the first half of current fiscal. He said that poor law and order situation, lack of infrastructure and rising energy shortfall were the major reasons behind the decline in FDI.
He said that infrastructure was one of the major hurdles in industrial growth. The weakening national assets like Pakistan Railway and PIA were a major concern for the business community, as transportation of goods from the Karachi port to the upcountry was becoming a Herculean task amid high oil prices in international market.
The energy crisis was a setback for Pakistan's economy, as the textile industry was passing through a crisis due to suspension of gas supply since December 25. Ghauri said that it was the responsibility of the government to take steps in the larger economic interest of the country and ensure an atmosphere congenial to foreign investment.
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