A.Rafay
ELITE MEMBER
- Joined
- Apr 25, 2012
- Messages
- 11,400
- Reaction score
- 10
- Country
- Location
LAHORE - At a time when the poor state of economy has failed to attract foreign investors for the last five years, the plan of Abu Dhabi group to build worlds tallest building in Karachi by record investment is very pleasant news for Pakistan.
For many analysts the situation was pathetic for the country since the inflows sharply declined during the last five years. They said this is unbelievable that a country which received $5.5 billion in FY-2008 finds it hard to receive even one billion dollar. Now the agreement of $45 billions investment in the country will provide employment to 2.5 million local people, beginning of a new era for the country, observed former LCCI SVP Abdul Basit. While the country is in dire need of foreign exchange and the foreign investments are leaving this land the news of such a huge investment, if it is true and timely implemented, will turned to be milestone in the history of Pakistan. He said that investment will not only attract more foreign companies to make investment in Pakistan but also encourage the local business community to continue their trade activity. Such positive news change the impression of the country and give the message that Pakistan is a safe place, he added. He suggested the government, particularly the bureaucracy to facilitate and encourage this largest investment plan of Abu Dhabi group so that other companies could also feel attraction to bring more money to Pakistan.It is to be noted that an agreement has been signed between Malik Riaz and Abu Dhabi group to build the tallest building in the world in Karachi. $35 billion worth of investments will be made in Sindh, while $10 billion will be invested in Islamabad and Lahore. The agreement amounts to the largest foreign investment in Pakistan. Elaborating the prevailing financial situation, he said that it is unfortunate that foreign direct investment during the first seven months of the current fiscal could hardly cross the figure of half a billion dollars.Pakistan has been struggling to protect its falling foreign exchange reserves which have badly damaged the exchange rate, he said. He stated that during July-January, the country received $525 million, less than $595 million received the same period of last year.
Abu Dhabi group plan to attract more investors | The Nation
For many analysts the situation was pathetic for the country since the inflows sharply declined during the last five years. They said this is unbelievable that a country which received $5.5 billion in FY-2008 finds it hard to receive even one billion dollar. Now the agreement of $45 billions investment in the country will provide employment to 2.5 million local people, beginning of a new era for the country, observed former LCCI SVP Abdul Basit. While the country is in dire need of foreign exchange and the foreign investments are leaving this land the news of such a huge investment, if it is true and timely implemented, will turned to be milestone in the history of Pakistan. He said that investment will not only attract more foreign companies to make investment in Pakistan but also encourage the local business community to continue their trade activity. Such positive news change the impression of the country and give the message that Pakistan is a safe place, he added. He suggested the government, particularly the bureaucracy to facilitate and encourage this largest investment plan of Abu Dhabi group so that other companies could also feel attraction to bring more money to Pakistan.It is to be noted that an agreement has been signed between Malik Riaz and Abu Dhabi group to build the tallest building in the world in Karachi. $35 billion worth of investments will be made in Sindh, while $10 billion will be invested in Islamabad and Lahore. The agreement amounts to the largest foreign investment in Pakistan. Elaborating the prevailing financial situation, he said that it is unfortunate that foreign direct investment during the first seven months of the current fiscal could hardly cross the figure of half a billion dollars.Pakistan has been struggling to protect its falling foreign exchange reserves which have badly damaged the exchange rate, he said. He stated that during July-January, the country received $525 million, less than $595 million received the same period of last year.
Abu Dhabi group plan to attract more investors | The Nation
