Pakistan no longer a no-go area for foreign investors: Muneer

KARACHI: The United Business Group (UBG) of FPCCI on Friday said government has improved security and investment climate and image of Pakistan which is attracting investors from all over the world.

Government has successfully improved security situation, improved policies, triggered growth and provided incentives to investors which has improved confidence of local and foreign investors, said SM Muneer, Patron-in-Chief of UBG. Speaking to the business community, he said: “Pakistan is no longer a no-go area for foreign investors; hundreds of local and foreign companies are expanding their operations while policies of the government are being lauded on every international forum.”

He lauded the decision of ECC to reduce power tariff for industrial consumers, terming it a pro-growth decision which will trigger economic expansion and boost exports. SM Muneer, who is also CEO of TDAP, said that the recent decision of ECC regarding LNG was satisfactory as it would help government achieve target of adding 10000 mw electricity in the national grid by 2017 to eliminate loadshedding.

The veteran business leader also lauded the attention being paid by the government on the development of women as fifty percent allocation of youth loan scheme has gone to women. SM Muneer said that dollar 46 billion Chinese investment reflects their confidence in Pakistan and its unmatched potential which is backed by the efforts of the incumbent administration to forge cordial ties with neighbouring countries to stabilise the region.

The UBG leader said: “Economy is taking off while the menace of terrorism is fading; therefore, the government should focus on GDP growth and provision of jobs in which business community will fully cooperate”.