LCCI demands investment moot in Balochistan

KARACHI: President, Lasbela Chamber of Commerce and Industry (LCCI), Maqsood Ismail while welcoming the International Investment Conference in Islamabad and Lahore proposed to hold a similar event in Balochistan as well. He said that such events are always helpful in fetching the foreign investment to the country and should be held frequently in all the four capital besides Islamabad.
“Such conferences must be productive and meaningful as foreign investment plays a critical role in the economic uplift of any country especially Pakistan which is still in the phase of reestablishing its image abroad”, Maqsood said adding that Balochistan is the most neglected part of Pakistan by all means but very attractive for the foreign investors in various fields particularly mining, natural resources, agriculture and infrastructure.
By encouraging foreign direct investment, Balochistan can gain technological advancement, knowledge and expertise from the global arena; therefore, every possible step should be taken to make this piece of land attractive for foreign investors.
They said that those obstacles should be removed through a positive approach and practical steps, which are coming in the way of FDI in Pakistan and top of the list is the cost of doing business.
“Though Pakistan ranks 62nd in the FDI-friendly countries, but that does not reflect its potential and available resources,” he said, adding that there is a dire need to promote economic vitality by strengthening the private sector, as internal dynamism has faded away due to acute energy shortage, deteriorating law and order situation and political instability.
At the same time, the government should ensure that all institutions remain immune to any sort of undue interference, as this will help improve the quality of governance without which foreign investment cannot be attracted, he added.