Pakistan Muslim League-Nawaz (PML-N) Overseas Central Secretary General Sheikh Kaiser Mehmood has said that the rulers have not been able to persuade foreign investors to invest in Pakistan. As no foreign investor would invest in the country until we get rid of power crisis and achieve political and economic stability.
Moreover, he said that the federal government unfortunately has not evolved economic agenda even to attract the local investors, rather they are discouraged by power and gas crises. In a statement issued here on Saturday, he further said that Pakistan during the era of PML-N chief Mian Nawaz Sharif was considered an ideal country for the foreign investors.
He said Mian Nawaz Sharif through his far-reaching reforms had promoted the industrial sector and the people were prosperous during his rule. Kaiser Mehmood said that in order to control the price hike, unemployment and poverty the government should provide facilities and concessions to local industrialists. He said that the hike in petroleum prices would also have negative impact on the industrial and agriculture sectors.
In order to restore confidence of local and foreign investors the rulers will have to bring back billions dollars lying in the foreign banks, he added. No country could control inflation and unemployment without stable and effective economy, he opined. The presidential system of government was great hurdle in way of the democracy and economy, he maintained.
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