KARACHI: President of the Korangi Association of Trade and Industry (KATI), Johar Qandhari, has expressed deep concern over the recent 21% decline in Foreign Direct Investment (FDI). Emphasizing that political stability and a reduction in energy costs, including production expenses, are imperative for development, Qandhari underscored the need for a conducive environment to attract foreign investment.
Highlighting that, apart from China, Saudi Arabia, and the United Arab Emirates, very few countries have made substantial investments in Pakistan, Qandhari stressed the importance of exploring new opportunities beyond existing friendly relations. While acknowledging the significant investments from these countries, he emphasized that Pakistan must diversify and seek additional avenues for foreign investments.
President KATI raised concerns about the shifting policies within the country, leading to disillusionment among existing investors who are now considering withdrawing their investments. Qandhari called for the immediate cessation of this trend.
Qandhari urged the government to collaborate with stakeholders and formulate a comprehensive, long-term policy that includes incentives and facilities to create an attractive environment for foreign direct investment.
He highlighted the vast investment potential in Pakistan, emphasizing the necessity of a well-thought-out strategy and policy to harness these opportunities.
Expressing optimism, he hoped that the incoming government would prioritize planning and implementation to boost Foreign Direct Investment (FDI) urgently.
Copyright Business Recorder, 2024
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