Islamabad Chamber Of Commerce & Industry (ICCI) Shows Concerns Over 50 Percent Fall In FDI

The Islamabad Chamber of Commerce & Industry (ICCI) has shown great concerns over 50 percent fall in foreign direct investment and called upon the government to make more conducive policies for attracting hefty investment in the country which was essential to steer the economy out of current troubles

Islamabad (UrduPoint / Pakistan Point News - 19th July, 2019) The Islamabad Chamber of Commerce & Industry (ICCI) has shown great concerns over 50 percent fall in foreign direct investment and called upon the government to make more conducive policies for attracting hefty investment in the country which was essential to steer the economy out of current troubles.Ahmed Hassan Moughal, President,RafatFarid Senior Vice President and Iftikhar Anwar Sethi Vice President, Islamabad Chamber of Commerce & Industry that according to State Bank of Pakistan's latest report, Pakistan has fetched FDI amounted to $1.737 billion in July-June FY19 compared to $3.471 billion in the same period of FY18, depicting a decline of 50 percent, which should be a cause of concern for policymakers.

They said that the economy of Pakistan was facing many challenges as exports were not growing accordingly to potential and trade deficit was rising. They said that in these circumstances, promoting FDI was key requirement to improve the economy and urged that government should make better policies to encourage new investors.Ahmed Hassan Moughal said that many countries including China, Hong Kong, Singapore and South Korea have achieved fast economic growth by focus on FDI and stressed that Pakistan should also pay more attention to promoting FDI.

He said that promoting FDI was important for Pakistan to supplement low domestic investment and saving rates, improve revenue growth, create jobs and reduce poverty.