2024-07-12 12:22:15
(Azhar Tharaj) Investment is like a blood running in the veins of the economy. If there are no investors, the economy is on the verge of destruction. Pakistan is a country where the economy is weak and only investment can give it new energy. But the terrorism and security situation in Pakistan has raised a wave of concern among foreign investors. More than 200 foreign investors in Pakistan have expressed concern about the country’s security situation.
The Overseas International Chamber of Commerce and Industry has released the annual Security Survey 2024 on the country’s security situation, highlighting the concerns of foreign investors on Pakistan’s security situation. The survey was conducted in June 2024. The OICCI survey reported that the overall security situation worsened in 2024 compared to 2023, according to the participants. The security situation in Karachi worsened from 69% to 80% compared to last year.
OICCI members have expressed concern over the increasing street crimes not only in Karachi but also in the whole of Sindh. The security situation in Balochistan has also worsened, which has increased from 68% to 75%. Some cities of the country. A slight improvement in the security situation has also been noted. According to the survey, the security situation in Lahore has reached 49% compared to 73% last year, 53% compared to 63% in Punjab and 58% compared to 68% in Peshawar. Like the survey of 2023, in 2024 also 71% of the participants of the survey. Security concerns are at the forefront of doing business in Pakistan.
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The question now is that foreign investors are concerned because of the security situation, which means that measures are needed to improve the security situation. It has to be understood that this operation is so important for the improvement of the economy because law and order and economy are inseparable.
In June, the data of the State Bank of Pakistan has been encouraging in terms of foreign investment. According to the State Bank, the volume of foreign investment in the 11 months of this fiscal year has increased by 15% to 1 billion 73 million dollars. . According to the statistics released by the State Bank regarding foreign investment in the fiscal year 2023-24, during the first 11 months of this fiscal year, an increase of 15 percent was recorded in foreign investment and the volume of foreign investment was 1 billion 73. Millions of dollars.
During this period, Chinese investors invested 52 million dollars, Hong Kong investors and 32 million dollars in Pakistan. American investors invested only 13 million dollars in Pakistan in 11 months, while the most More than 740 million dollars of investment came in the power sector. Now, if foreign investment is to be promoted, an investment environment must be created for it. Prime Minister Shahbaz Sharif is trying to get investment from Saudi Arabia and the United Arab Emirates. Increase in exports is indispensable for growth of foreign exchange and stable economy.
We have to increase the rate of export through internal and external investment, for which the private sector should find new opportunities. In particular, there is a need to take special measures regarding the increase in Pak-Saudi investment and export, and for this, there is a need to increase the capacity of our institutions so that exports can be increased and unemployment can also be reduced through investment.
2024-07-12 12:22:15