LAHORE, Aug 6: The Lahore Chamber of Commerce and Industry has urged the government to initiate dialogue with the private sector on the upcoming investment policy and steps to overcome the low-FDI phenomenon.

In a statement issued here on Monday, LCCI President Irfan Qaiser Sheikh said that there is a dire need to promote economic vibrancy by strengthening private sector.

“The rising risk perception about investing in Pakistan is hitting hard the entire economy and needs to be tackled through a comprehensive policy approach by involving all chambers of commerce in the country,” Sheikh said.

The LCCI president said that energy shortfall, poor law and order, institutional fragility and political instability were the major factors keeping foreign investors away. “The fall in foreign direct investment is adversely affecting the country’s economic growth.

The government should adopt remedial measures in the upcoming investment policy to attract foreign investors,” LCCI said in the statement.

“The slow government response to deal with aggravating energy crisis is spoiling local investments and sending out negative signals to potential foreign investors.