Shaikh Khalid Tawab urges the Prime Minister for restoring investors’ confidence

Karachi, September 09, 2016 (PPI-OT):Shaikh Khalid Tawab, Sr. Vice President FPCCI has shown his serious concern on nose dive investment in Pakistan and highlighted that the domestic investment as percentage of GDP was 22.5 percent in 2007 which now has declined to 15.2 percent in 2016 while the foreign direct investment which were US$ 5.4 billion in 2008 has now stood at US$ 1.2 billion in 2016. He said that there should be rises in FDI from other countries adjacent to the China Pakistan Economic Corridor (CPEC) which is a mega project committed to bring US$ 46 billion investment from China and increase the connectivity of Pakistan with Middle Eastern, Europe and Central Asian countries.

He indicated that the concerned agencies of public sector responsible for promotion of investment has miserable failed to achieve the targets and to disseminate the investment opportunities of Pakistan at national and international level despite the fact that there is highly liberalized and business friendly investment policy in Pakistan which offers many incentives to investors and allowed repatriation of profit.

At present, the law and order situation in Pakistan has improved after successful operation of Rangers and Pakistan Army like Zarb-e Azb. Mr. Tawab urged to the Prime Minister to take cognizant at the situation and take remedial measures for restoring the confidence of investors and projecting the soft image of Pakistan.

He added that Pakistan, being the world largest producer of salt, ranked second in the production of meat, 5th in the reserves of copper and 4th in the production of cotton, milk, mango and sugarcane, 3rd largest user of cotton, the 6th largest producer of oranges, the 4th largest producer of apricots, the 11h largest wheat producer, the 6th largest producer of fresh milk and the 12th largest rice producer offers tremendous opportunities of joint ventures investments based on the locally available raw material.

Energy and power sector, mining and quarrying, infrastructure, automobiles, telecommunications, value added textiles and leather, surgical and pharmaceutical goods, food processing, banking and finance and engineering are the sectors, where there is huge potential of joint venture investment, he added.

Mr. Tawab urged the government to create coordination among the federal and provincial investment Boards as are replicating the work. He further stated that the provincial investment boards should work for enhancing investment in their provinces. Moreover, the Pakistani mission in abroad should be involved in highlighting the joint ventures investment opportunities and disseminate the information related to investment projects to the concerned investment agencies in their respective countries.

For more information, contact:
M. A. Lodhi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332