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May 21, 2024

News Desk

a huge market that cannot be ignored

LAHORE: The Government of Pakistan has stepped up efforts to boost foreign direct investment (FDI), with particular emphasis on boosting investment in the development sector, to rehabilitate ailing industrial units. These initiatives are part of a broader strategy aimed at revitalizing economic growth, creating jobs and positioning Pakistan as a competitive player in the global market. “Pakistan is a market of around 225 million people and it is difficult to ignore such a huge market for a longer period of time,” commented Ahmad Subhani, an investor based in the Middle East, speaking to The Express Tribune. The only issue facing

April 29, 2024

News Desk

Pakistan’s FDI obsession revisited

Many economists are fond of reporting the declining or rising figures of Foreign Direct Investment (FDI) coming into Pakistan. Not only do our governments boast about the increase in FDI, but commentators also appreciate it as a significant gain. SBP updates the data regularly. Their fascination with FDI appears, if not as a panacea, certainly as a breakthrough to achieve a faster rate of growth or economic growth. April 23, 2024 newspapers published a news story based on SBP data, highlighting the increase in FDI. One newspaper, Dawn, reports that “foreign direct investment jumps 51%.” Another newspaper, The News, reports

April 22, 2024

News Desk

A supply-side India

BRUSSELS: Significant economic reforms have helped India become one of the fastest growing nations in the world. With a population of 1.4 billion people, India has a diverse economy with growth prospects that dwarf most of its Asian counterparts. Economic liberalization and rising incomes have fueled India’s rapid growth in trade across the world, with foreign direct investment (FDI) increasing significantly, particularly from the United States. India has become an attractive investment destination for funds seeking stable rates of return. India’s real GDP growth of 8% in 2023 outpaced China and all OECD countries. But economic success did not come

April 17, 2024

News Desk

Aurangzeb unveils economic plan

WASHINGTON: Federal Minister for Finance and Revenue Muhammad Aurangzeb, heading a Pakistani delegation to the International Monetary Fund (IMF) and World Bank 2024 Spring Meetings in Washington, on Tuesday highlighted the country’s road map to address economic challenges and boost the economy towards sustainable development. During an interactive session with the Atlantic Council Center for Geoeconomics and the South Asia Center titled “Opportunities and Challenges for Pakistan’s Economy to 2024 and Beyond,” he outlined key measures such as raising the tax-to-GDP ratio, the digitization of the Federal Board of Revenue (FBR), reform of state-owned enterprises (SOEs), boosting exports, boosting remittances,

March 21, 2024

News Desk

FDI rebounds to $131 million in February

KARACHI: Foreign investment in various sectors of the economy, including the energy, telecom and financial sectors, reached $131 million in February, cumulatively reaching $821 million in the first eight months of the current financial year 2023-24. According to the State Bank of Pakistan (SBP) data, foreign direct investment (FDI) unexpectedly turned negative at $173 million in the previous month of January 2024. That marked a 16% improvement from $113 million in February 2023. The new inflow of foreign investment remains significantly low compared to the country’s real potential. However, the return of political and economic stability has given the authorities

March 18, 2024

News Desk

Escape the low level balance trap

KARACHI: Economic conditions, as depicted by various statistics, have started to improve as certainty in the political environment has improved in recent months, leading up to the general election in February 2024. Recent export figures, released by the Pakistan Bureau of Statistics (PBS), show an upward trend. Exports since October 2023 have crossed the $2.5 billion mark every month. That’s significant given that they’ve been hovering below that mark for several months, especially after touching nearly $3 billion in early 2022. Pakistan’s economy has faced significant challenges as its growth, imports as well as industrial production slowed down in 2022

January 25, 2024

News Desk

Measures are proposed to strengthen FDI

KARACHI: Economic experts and investors in Pakistan presented proposals to boost foreign direct investment (FDI) in the country. These recommendations reiterate the importance of creating a safe and sound environment, simplifying regulations and providing attractive incentives to investors. In discussions with The Express Tribune, experts emphasized the importance of simplifying regulations and reducing bureaucratic hurdles to create a favorable investment climate. An improved single window feature for company formation was proposed to facilitate investors and ensure a hassle-free experience. Addressing the challenges associated with inadequate workforce and facilities in the health sector, experts stressed the need to focus on providing

December 31, 2023

News Desk

IT experts urge exploration of GCC markets

KARACHI: IT consultants and experts urge a strategic exploration of new and non-traditional markets, particularly the Gulf Cooperation Council (GCC) countries. The aim is to attract foreign direct investment (FDI) and boost exports in the field of Information Technology (IT) and IT-enabled services. Many leading companies have already established their presence in these markets by setting up regional and representative offices to increase exports of IT services to these countries. This move should be followed by different IT companies and established technology based startups. In discussions with The Express Tribune, they pointed out that Pakistani IT companies could cultivate strong

December 13, 2023

News Desk

Exporters are calling for reforms to boost growth

KARACHI: Exporters urged the government to attract foreign investment in export sectors, reduce energy costs and eliminate unprofessional red tape to help grow the beleaguered economy. They advocate promoting export-oriented industries, creating a level playing field and implementing substantial cuts in energy prices – aiming to match rates in South Asian countries such as Bangladesh, Sri Lanka and others. Export-oriented industries such as the textile and apparel sector not only generate massive employment but also contribute significantly to the national economy. Leading exporter Abdul Rehman Fudda, also former president of Pakistan Hosiery Manufacturers Association (PHMA) South Zone, spoke to The

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