ISLAMABAD: Minister for Commerce, Engineer Khurram Dastgir Khan said on Thursday the sudden fall in foreign direct investment (FDI) in the country during July-August would eventually take its toll on the exports in near future.
Commenting on a report of State Bank of Pakistan that the FDI had shrunk by 37 per cent in July-August 2014 as compared to last year, he said political stability begot economic stability but the protests which kept the state institutions paralyzed for several days in the Capital had created an impression of political instability in the country.
This false perception of political volatility was threatening to reverse the leaps that the country took on the economic front during one year tenure of the present government, said the minister in a statement.
Khurram dastgir said the loss on economic front was huge, but the obstinate protest leaders in their speeches plainly refused to accept the facts and put the onus of economic loss on the government.
The government, he added, in fact was trying its utmost to win back the confidence of potential investors and international financial institutions. The recent visit of President of Asian Development Bank (ADP) to Pakistan showed that the international financial institutions repose confidence in the present government, he added.
The minister quoted the ADB President as saying that only a stable and democratic Pakistan could realize its dream of becoming a regional hub of trade and commerce.
He said the common man yearned for eradication of extremism, economic stability, jobs for the youth and uninterrupted supply of electricity but the leaders, who had besieged the Parliament, wanted power at any cost. Instead of solving the problems of people, the leaders of protesting parties had themselves become a problem, he added.
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