THIS is with reference to the article ‘Biggest conglomerate’ (Jan 13). The extent of state control on Pakistan’s corporate sector, mentioned in significant details, is mindboggling. Several points mentioned in the article were unknown to me, or I may not have paid attention to, even after over 40 years in the corporate sector.

We have been reading in the print media and listening on television about ‘reforms’, ‘good governance’, ‘competitiveness’, etc., and how attractive Pakistan is for investors, particularly foreign investors. But after reading the apparently well researched article, it seems it is all rhetoric and without any significant substance.

Now the message is clear: unless the wide-ranging grip and controls of the state are comprehensively addressed, no amount of narrative, investment conferences, or other props will attract the serious focus of any investor, let alone foreign direct investment.

If the intention is there, the current system of government certainly has enough clout to unlock the control levers and make the economic scenario competitive and attractive for local and foreign investors.

Moin Mohajir
Karachi

Published in Dawn, March 19th, 2026