Friday, 29 March 2024, 10:39:00 am

Analysts hail initiatives of incumbent government to bring foreign investment into the country
November 30, 2022

Dr. Tauseef Zaman (Economist): Nothing has been dishonored during the reign of sitting government. It is committed to all the agreements made by the previous governments. Whenever we sign a new agreement, we should look at all the details. For example, currently ML-1 agreement is being signed with China, and we need to look at all the terms and conditions thoroughly. It will ensure transparency as well as effectiveness. Unfortunately, we do not have much focus on attracting domestic investment in various projects. We should explore it deeply. It is very important that we allow foreign banks to operate in Pakistan. But, we need to seek our interest taken care of. A number of Pakistani banks are also operating in China. During 1990s, Pakistani government opened a branch of National Bank in Central Asia, but that was closed later. Central Asia and Russia can have 40% impact on our foreign remittances. We should reopen these banks to gain that business.

Rana Ihsaan Afzal (SAPM): The government is facing the challenge of liquidity and balance of payments. The government through its effective measures has brought down the current account deficit by 50 percent in a short span of time. We hope to cap CAD at 9 billion dollars this year. Many countries are targeting to control inflation. Our first target was to save the country from economic default. 9th review of IMF will be completed soon hopefully which will provide relief to the economy. We are also focusing to improve industry, trade, agriculture and many other sectors. The present government is also taking steps to improve the agricultural sector. The government has provided subsidy at DAP, electricity and other agricultural inputs to increase production and to bring prosperity to the farming community.