Foreign investment, vital to the economy

Prime Minister Shehbaz Sharif has met Saudi Crown Prince Muhammad bin Salman, in the meeting in Riyadh, issues of mutual interest and investment package for Pakistan were discussed.

Earlier, while addressing the closing session of the special session of the World Economic Forum, the Prime Minister said that Pakistan is following the agenda of fundamental reforms for the improvement of the economy. Expressing his satisfaction, he said that receiving the last installment of 1.1 billion dollars will bring economic stability, bitter and difficult decisions have been made for the economic security of Pakistan, and the fruits are coming in the form of economic stability.

Prime Minister Shehbaz Sharif has managed the rocking ship of the economy with strong economic policies as soon as he assumed power, foreign investment in Pakistan will have vast benefits, as the government is providing all kinds of facilities to foreign investors. The positive results of which have started to emerge. The visit of Pakistan Prime Minister Shehbaz Sharif is very important in terms of investment in the country of Saudi Arabia.

Pakistan’s trade agreements with Saudi Arabia will increase international confidence. The country’s economy needs investment instead of debt, for which the Prime Minister has been able to attract foreign investors in the sideline meetings of the World Economic Forum. Pakistan is the best market for Saudi investors, the private sector is very important to increase bilateral trade volume.

There are investment opportunities in Pakistan in the fields of agriculture, IT, minerals and tourism, keeping in mind that investment agreements can be made on G-to-G basis with the governments of Arab countries. The improvement in the stock market has restored the confidence of investors, investors from Arab countries are trying to invest in Pakistan, investment and trade exchange between Saudi Arabia and Pakistan is the most important. More investor-friendly policies are needed to strengthen the country’s economy.

Concepts and ideas are changing rapidly nowadays. The war is no longer fought on the field, but on the communication and economic fronts. A strong economy can make any country a superpower.

In 1990, foreign direct investment started in the countries of South Asia and western companies in search of new markets started building their factories and outlets in all the countries of the region including India and China, but unfortunately the Pakistani economy was affected by political ups and downs and Due to the rapidly changing situation in the region, it has been subject to uncertainty.

At this time, relations between Saudi Arabia and Pakistan have entered a new era. This is the new chapter of Pakistan’s foreign policy, the relationship of trust between the government and the IMF has deepened, there is no obstacle in obtaining new loans. This is the reason why Pakistan’s long-time friends are now receiving signs of heavy investment in various sectors in Pakistan, progress is being made in matters related to the investment of billions of dollars in Pakistan by Saudi Arabian investors. , which will open new avenues of development not only in Pakistan.

It will help to end unemployment, but it will also help to ensure the prosperity of the people. Meanwhile, plans are being made with friendly countries like Qatar for cooperation in various sectors, especially for Pakistani talents. There is also a plan to use thousands of labor and experienced manpower from Pakistan for services in Qatar, who will not only play an important role in sending huge amount of foreign exchange to Pakistan by serving in Qatar.

The World Bank has also agreed on a rolling country framework plan for ten years in support of Pakistan’s economic reforms, which is an appreciation of Pakistan’s economic policies, the Pakistan Stock Exchange is also stabilizing. Which is a clear sign of investors’ confidence in the Pakistani market, however, some political circles are angry at these signs of improvement in Pakistan’s economy and are unilaterally trying to worsen the situation with negative rhetoric, which is called negative politics. What can be named other than

These elements should abandon the work of politicizing the economy now, this is in the interest of the people of the country, the Pakistani economy has come to some extent balanced. Steps should be taken to make the conditions more favorable for foreign capital investment. The more durable and long-term the political stability, the more economic and business activities will increase, the more employment will increase and the social harmony will increase, so it is important that Politics and economy should be geared towards growth as possible by investing in technology and value added industries and by aligning the policies of international financial institutions with local needs.

The best among them is to implement the policies of the World Trade Organization in a deliberate manner and gradually and only when the competitive position of Pakistan’s economy is stabilized internationally. Further, we have to adapt the concepts of World Bank and International Monetary Fund according to the local conditions and keeping in mind the needs of economic development. We have to harmonize international thinking with local commitment.

The examples of countries like South Korea and Malaysia prove that poverty can be turned into prosperity. India has also achieved economic growth by achieving political stability, now there is a growing middle class and its taxes are also increasing. Big industries are playing an important role in increasing the taxa volume.

India’s auto industry has progressed, India is not assembling vehicles but making vehicles, manufacturing of all spare parts of vehicles and value addition is happening at local level. Not by simply assembling parts and making vehicles. The country’s resources, including an excellent workforce and an active business community, enabled a 4 percent increase in gross national product at a time of social and economic hardship. Enrichment in national production was possible at a time when there was uncertainty due to various reasons, but the government’s strategy was clear.

Pakistan is in dire need of private sector led investment, which will ensure Pakistan’s current account deficit is addressed and foreign direct investment is used to increase foreign exchange reserves. This is the economic model that led India to promote reforms in the 1990s for economic growth and stability in the political system for broad-based investment. Political stability is completely absent in Pakistan.

Once people have the skills and education, they can change things. Once the system has the desire and capacity for business and productive financing, the private sector can do wonders in mining, agriculture and information technology. Time is short, as the next 3 to 5 years are critical to changing the trajectory of economic growth. The economy is on a downward spiral. The forecast for the next few years is dire. This could lead to breakdown of law and order and further polarisation, as the state writ is concentrated against selected elements, if things are not put on the right track, a dire situation will be faced.

With better guidance, experience, expertise and foresight, we must believe that these national problems will be solved. sooner or later Investment includes providing employment to our educated class and managing government revenue and expenditure so that we steer the economy towards prosperity that leads to social and political harmony.