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The foreign exchange reserves of Pakistan are declining due to the poor economic policies of the previous government, Senator Talha Mehmood, Chairman of the Senate Standing Committee on Interior said here on Tuesday.
The country is passing through a critical phase regarding its economic as well as security problems and the foreign investors are now hesitating to invest in the country due to the security risks, Senator Talha Mehmood said while talking to a group of journalists.
He said the bureaucracy is a stumbling block in our economic development as they are wasting time while discussing unrelated matters in spite of giving some positive input to socio-economic situation of the country. Talha asked the government to formulate trader and investment friendly policies to gain the confidence of business community and to increase the volume of exports.
He termed the decline in foreign exchange reserves as an unfortunate episode saying that due to poor economic policies the reserves have decreased in spite of showing some upward trends. He stressed the need for formulating policies to seek the attention of foreign investors.

Copyright Business Recorder, 2008

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