Investment: ‘FDI figures still below potential’

FDI inflows dropped from $5.4 billion in 2007-08 to $853 million during July 2012 to April 2013.

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) Thursday stressed the need for taking urgent measures to attract more foreign investment into the country to revive the economy. Chairing a meeting of ICCI’s Sub-Committee on Investment, ICCI President Zafar Bakhtawari said that although the inflow of Foreign Direct Investment (FDI) has improved, its size was still low as compared to five years ago. Pakistan witnessed a significant fall in FDI inflows which dropped from $5.4 billion in 2007-08 to $853 million during July 2012 to April 2013. He said many foreign companies are still interested to set up businesses in Pakistan, but they are waiting for government to take steps for creating investment friendly environment in the country. He said Pakistan also needs enhanced investment to finance its infrastructure, heath care and consumer goods. He said that the policy makers would revisit the investment policy and make it more investment friendly.

Published in The Express Tribune, August 16^th, 2013.

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