Dismal: Businessmen concerned over falling investment

LAHORE:

The former senior vice president of the Lahore Chamber of Commerce and Industry (LCCI) Abdul Basit expressed concern over eight per cent decline in Foreign Direct Investment (FDI) during the financial year 2011 on Friday.

Ongoing energy crisis and worst law and order situation are the main factors spoiling the investment scenario, said Basit. FDI stood at $1.57 billion in fiscal 2011 against $2.15 billion in fiscal 2010, depicting a decrease of $577 million, according to data released by the State Bank of Pakistan.

Basit further said that the government should motivate the commercial section of Pakistani missions abroad and also large scale manufacturing sector to attract new foreign investment.



Published in The Express Tribune, July 16^th, 2011.