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Pakistan on upward trajectory under new economic regime

13 6 10

By Rehan Khan Ghauri

ISLAMABAD, Mar 30 (APP):Since its inception, the Pakistan Tehreek-e-Insaf (PTI) government has been confronting a number of inherited economic challenges head-on.
For a long term solution of the economic woes, the incumbent government introduced a new economic regime to incentivize both local as well as foreign investors with conducive environment through ease of doing business plans.
To lure foreign investors, Prime Minister Imran Khan has undertaken many visits to China, the Kingdom of Saudi Arabia (KSA), the United Arab Emirates, Turkey, Qatar and Malaysia, where he interacted with their business community to apprise them about business opportunities in Pakistan.
Resultantly international investors, due to business-friendly policies, are inclining towards Pakistan and showing keen interest in various economic sectors.
The recent three-day official visit of Malaysian Prime Minister Dr Mahathir Mohammad to Pakistan is expected to bring around $900 million investment in various sectors such as telecommunication, technology, automobiles and Halal foods.
A Malaysian automotive company Proton Holdings is going to set up a car assembly plant in Karachi in collaboration with the Pakistani firm Al-Haj Automotive.
A symbolic ground-breaking of the car assembly plant was also performed by the two chief executives of brotherly countries during Pak-Malaysia Investment Roundtable conference, held in Islamabad from March 21 to 23.
Before his departure to Malaysia, Dr Mahathir Mohammad was also briefed about the JF-17 Thunder fighter aircraft – jointly developed by China and Pakistan – by Prime Minister Imran Khan himself.
Moreover, two Chinese business giants – XCMG and HSS Group – have issued a letter of intent for investing $2 billion in housing........