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Poor law, order hampering investment

October 09, 2012

RAWALPINDI, Oct 8: Unless the government tackles the energy and law and order issues, foreign investors will never come to Pakistan.

This was stated by Manzar Khurshid Shaikh, the president of the Rawalpindi Chamber of Commerce and Industry (RCCI), on Monday.

Speaking at a press conference, he said even local investors were facing problems in launching projects due to the poor law and order and energy crisis. The traders’ representative suggested that in order to resolve the energy crisis on a long-term basis, the government should launch work on the Kalabagh Dam.

Chaudhry Pervez Ahmed Warraich and Chaudhry Nadeem A. Rauf, the RCCI senior vice-president and vice-president, were also present on the occasion.

Mr Shaikh said due to the unfavourable conditions, the local businessmen were selling their units and moving to other countries. “There is a need to stop them by providing them incentives and facilities. The RCCI is also paying its role in persuading them not to leave the country,” he said.

He said the RCCI was one of the oldest chambers in the country and had been playing the role of a bridge between the business community and the government. Though the government has withdrawn all facilities from the industrial estates, the business community is still working there, he added.

The RCCI president also said the government should facilitate the taxpayers and create a tax-friendly culture.