Monday, 26 February 2024, 07:06:43 pm

Economic indicators now positive due to prudent decisions taken by Govt: Analysts
November 26, 2023

Faisal Tirmizi (Pakistan’s Ambassador to UAE): 

A number of MoUs are expected to be signed during the visit of the Prime Minister Anwar-ul-Haq Kakar to United Arab Emirates particularly in the field of energy, banking sector, civil aviation and others. The bilateral trade between the two countries is 10 billion dollars and it has a great potential to be increased. Over 1.8 million Pakistanis are serving in the UAE. The United Arab Emirates still needs more skilled workers in different sectors. So, we would be looking at more opportunities for Pakistanis in this regard. The Prime Minister would be leading the Pakistani delegation at the COP-28 summit. It is a timely summit for countries like Pakistan in terms of climate change. Pakistan has played a leading role in all international discussions with regard to the environment. The establishment of the Loss and Damage fund in COP-27 was the result of Pakistan's efforts. As per an article published, we already have surpassed the limit of 1.5 degree Celsius.

Hamayun Iqbal Shami (President, Pakistan Economic Forum): 

It is good news that the Prime Minister is paying an official visit to UAE. Strengthening the economy must be the top most priority of all the stakeholders in the country. Another remarkable initiative is the establishment of SIFC aimed to provide one-window services to the foreign investment. Whenever a government changes, the new government comes with its economic policies starting from zero. Normally, the trade from other countries to Pakistan is routed through the UAE. It is a fact that the UAE is an oil producing country having huge investments. Pakistan can provide good investment opportunities to the investors in UAE in the fields of power generation, tourism and others.

Nasir Shah Bukhari (Economist): 

We are hearing good news as far as the economy is concerned. These are the outcomes of the initiatives taken by the SIFC jointly chaired by the Caretaker Prime Minister and the Chief of the Army Staff. Even the IMF has appreciated the initiative of Pakistan in this regard. Now the next step is to attract the foreign investment in different development projects in the country. The mining, agriculture, IT and energy sectors are the top priority of the government for economic stability. A number of MoUs are expected to be signed with the GCC countries during the visit of the Prime Minister. The local investors must also come forward to invest as their success would be attractive for the foreign investors to invest in Pakistan.

Dr. Noor Fatima (Economist):

The top most priority as per the policy of the government through SIFC is the foreign investment in power, agriculture and IT sectors. We need to provide maximum facilitation and ease of doing business to the foreign investment. We need investment in the power sector and investment in mitigating the impacts of climate change. We need to import machinery to bring advancement in the agriculture sector. Energy remained the main pillar of the economy in a country. There is a dire need to introduce modern technology in different sectors to compete with the world. The Prime Minister, in his visit to UAE, will give confidence to the foreign investors to get maximum advantage of the investment potential in the country. We need consistency in the economic policies whichever government came in power.