LAHORE: Participants in a consultative session organised jointly by Punjab Board of Investment & Trade and the Lahore Chamber of Commerce & Industry (LCCI) on Pakistan’s investment policy 2022 here on Tuesday termed political stability, continuity of policies and focus on local and foreign investments the need of the hour for improving the deteriorating economic situation.

They gave their input on investment in various sectors including green energy, technology transfer, availability of raw materials, promotion of tourism, effective measures to create ease of doing business, reduction in imports and increase in exports, continuity of policies and focus on local investors.

“Pakistan is one the biggest markets as it is the fifth largest country in the world in terms of population.

But, despite such a huge population, we still have to get our share in the global market,” said PBIT Director (Projects and Policy Research) Sohail Qadri while speaking on the occasion.

He said there were 10 special economic zones in Punjab, but the number of these zones must be increased to promote investment. The Punjab government, he said, has sent recommendations to the federal government for the establishment of three more SEZs.

Dr. Ahmed Javed Qazi, secretary (industry), said there are immense investment opportunities in Punjab, but a better policy is the need of the hour.

“The government wants to make a policy by taking the investors into confidence. This is why this consultation has been arranged,” he added.

He said an action plan would be made in the light of the recommendations of the stakeholders.

Former president of LCCI Muhammad Ali Mian said: “Pakistan is full of opportunities but it is not possible to encourage foreign investment without promoting local investment. Political stability is much necessary for domestic and foreign investment.”

LCCI Vice President Haris Atiq said the confidence of local investors must be restored for a desirable increase in foreign investment.

Published in Dawn, August 3rd, 2022