KARACHI (July 18 2010): Security of capital is key to attracting foreign investment in Pakistan. This was stated by Dr Ishrat Hussain, Dean and Director, Institute of Business Administration (IBA) while addressing a seminar "Investing Opportunities in Pakistan" organised by Institute of Cost and Management Accountants of Pakistan (ICMAP) at a local hotel here on Saturday.
He was of the view that inconsistency of economic policies resulted in economic instability, which has direct link with the foreign investment. He stressed that the government should adopt positive economic measures to create continuity in the economic policies. "Bad law and order, poor infrastructure, energy, gas and water shortages are resulting in flight of capital," he added.
Speaking as chief guest, former federal minister for information technology Professor Dr Atta-ur-Rehman said knowledge is key to socio-economic development of any country. In the knowledge-driven world, Pakistan, where 55 percent of total population are youth, can produce a huge knowledge-driven force, which not only would help boost unstable economy, but also produce quality human resource, he said.
Last year, the government allocated only 1.3 percent of the total GDP for education sector, which is also very low as compared to the neighbouring countries, he said, adding that without increasing the allocation for science and technology sector, the country could not achieve the economic targets. He urged varsities to produce graduate who instead of seeking job, create job by starting small businesses.
Syeda Shehla Raza, Deputy Speaker, Sindh Assembly said economic stability is linked with political stability and continuity of economic policies. Elaborating economic landmarks of the present government, she said the foreign minister held talks with Friends of Democratic Pakistan (FoDP) to improve the current economic situation of the highly volatile country.
She said the provincial governments of Punjab and Sindh have set economic investment zones, adding that China and Japan have shown interest in investing in these special zones. If, democracy strengthens, the foreign investment comes and if not, the condition remains the same, she said. Anjum Nisar, Managing Director Anjum Asif & Co, Najam Ali, Chief Executive Officer Next Capital Ltd, Dr Amjad Waheed, CEO, Nafa Funds Ltd and Arif Habib, CEO, Arif Habib Investments also spoke on the occasion.
He was of the view that inconsistency of economic policies resulted in economic instability, which has direct link with the foreign investment. He stressed that the government should adopt positive economic measures to create continuity in the economic policies. "Bad law and order, poor infrastructure, energy, gas and water shortages are resulting in flight of capital," he added.
Speaking as chief guest, former federal minister for information technology Professor Dr Atta-ur-Rehman said knowledge is key to socio-economic development of any country. In the knowledge-driven world, Pakistan, where 55 percent of total population are youth, can produce a huge knowledge-driven force, which not only would help boost unstable economy, but also produce quality human resource, he said.
Last year, the government allocated only 1.3 percent of the total GDP for education sector, which is also very low as compared to the neighbouring countries, he said, adding that without increasing the allocation for science and technology sector, the country could not achieve the economic targets. He urged varsities to produce graduate who instead of seeking job, create job by starting small businesses.
Syeda Shehla Raza, Deputy Speaker, Sindh Assembly said economic stability is linked with political stability and continuity of economic policies. Elaborating economic landmarks of the present government, she said the foreign minister held talks with Friends of Democratic Pakistan (FoDP) to improve the current economic situation of the highly volatile country.
She said the provincial governments of Punjab and Sindh have set economic investment zones, adding that China and Japan have shown interest in investing in these special zones. If, democracy strengthens, the foreign investment comes and if not, the condition remains the same, she said. Anjum Nisar, Managing Director Anjum Asif & Co, Najam Ali, Chief Executive Officer Next Capital Ltd, Dr Amjad Waheed, CEO, Nafa Funds Ltd and Arif Habib, CEO, Arif Habib Investments also spoke on the occasion.
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