Pakistan pledges to remove all hurdles to attract foreign investment

Government believes in facilitating and encouraging public-private partnership to strengthen the economy

 

Dubai — Pakistan’s premier Imran Khan on Wednesday said that his government is committed to removing all hurdles in the way of foreign direct investment to industrialise the country.

“We are dealing with all the problems like bureaucratic red-tapism to encourage foreign investors to invest in Pakistan,” he said while speaking at the World Economic Forum Country Strategy Dialogue on Pakistan via video link.

Pakistan is all about wealth creation, where everyone will be welcomed to come and invest to industrialise our country. He said it will definitely help lift poor people out of poverty.”

He said his government believes in facilitating and encouraging public-private partnership (PPP) to strengthen the economy.

He said Pakistan is a huge market of 220 million people with majority young population.

Covid-19 challenge

Describing his government’s effort to save the lives of his people from Covid-19, and stabilise the economy simultaneously, he said “We opened up the construction and the agriculture sectors during the first wave of the pandemic.”

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“Instead of total lockdown, we went for smart lockdown so that daily wagers could continue earning and feeding their families,” PM Imran said.

“We’ve made a number of reforms which has resulted in setting our economy on the right track. Faisalabad is now short of labour because the textile business is thriving more than capacity,” he added.

Imran Khan said his government financially supported over 15 million deserving families during the first wave of pandemic.

“We are hitting a second peak of the virus and we have decided not to close our businesses and only non-essential sector will be locked down to prevent people from the disease and hunger.”

Highlighting his achievement on on the economic front, the prime minister said his government inherited the largest current account deficit of Pakistan‘s history. He said the current account deficit has now become surplus due to prudent policies of the government, which shows economic stability in Pakistan.

“Exports are improving, foreign direct investments, and remittances are increasing. We gave incentives to the business community and now textile industry of the country is running with full capacity.”

Talking about China-Pakistan Economic Corridor (CPEC), he said that the project is not exclusive to China. The corridor could provide a link to Central Asian land-locked countries an access to the Arabian Sea through Gawadar Port.

“CPEC started with the vision of connectivity, anyone can join the CPEC,” he said.

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