Pakistan attracted $8.2bn investment in 2006-07: Soomro

[fatman17]

Pakistan attracted $8.2bn investment in 2006-07: Soomro

By By our correspondent
2/14/2008
KARACHI: Caretaker Prime Minister Mohammedmian Soomro has said that Pakistan has attracted a foreign investment of $8.2bn during 2006-07 due to continuity and consistency of economic policies while the economy has maintained a GDP growth of more than 7 per cent in the past several years.

While talking to a delegation of German investors led by German Consul General Han Joachim Kiderlen at the Governor House on Tuesday, the Prime Minister noted that Pakistan’s macroeconomic policies were widely acclaimed by the multilateral institutions and investor communities.

He observed that the robust economic growth presents a strong case for investment in the infrastructure of the country. Soomro said 100 million out of 162 million of the population in Pakistan is below 25 years of age, who are a great asset for the country as well as an attraction for foreign investors.

He stated that because of rapid economic growth there was a surge in energy demand and the government is trying its best to bridge the demand and supply gap. Mohammed Mian Soomro pointed out that besides resorting to conservation of energy, the government has approved a number of projects to increase the power generation as well as working on alternative sources of energy.

He also appreciated German investment in various sectors of the national economy and welcomed the willingness to invest more in various fields particularly in the energy sector. Replying to a query on intellectual property rights (IPR), he said a body is already in place to check the violation of IPR issues in the country.

Responding to the interest of German delegation to establish special industrial zone in Pakistan, the Prime Minister said Pakistan would welcome the setting up of Pak-German industrial zone. The delegation appreciated the government’s policies and expressed the desire to invest more in Pakistan.

 

[solid snake]

Wow 100 million under 25s? I'm one of them. Good thing is the generation after us will be smaller. Population must be controlled.

 

[Janbaz]

A strong population base is needed to compte though......Look at Iran....vast area, but in need of more people..So it not all bad having a big family!

 

[solid snake]

A strong population base is needed to compte though......Look at Iran....vast area, but in need of more people..So it not all bad having a big family!

Pakistan has as many people as it needs. We just need to educate the population we already have. Anything above 170-180 million would mean prices of land would sky rocket compared to today, and nobody would be able to live in his own house, everyone would be forced to live in apartments.

 

[never]

awsome amount of investment

 

[AgNoStiC MuSliM]

A quick point, that may or may not be related, but Pakistan's exports have not risen in accordance with its overall economic growth. This fact has been criticized by a lot of economic analysts, and of course has led to criticizm of the GoP's economic policies, but I believe it indicates an extremely positive aspect of our economy - growth has been fueled due to internal Pakistani growth, rather than indirectly from industry set up to cater to demand from abroad, which would depend a lot more on fluctuations in demand from abroad (economic swings, or simply reduction due to a "negative perception" of Pakistan).

While export growth should not be ignored, since it offers the Pakistani economy a much greater market and acts as a growth multiplier, the lack of dependance upon it till this point gives me a lot more faith in the resilience of the Pakistani economy, provided the GoP can keep inflation under control, manage some semblance of stability in the North West, and continue to increase revenues and continue to invest massively in domestic infrastructure, education and training, social services etc.

 

[fatman17]

A quick point, that may or may not be related, but Pakistan's exports have not risen in accordance with its overall economic growth. This fact has been criticized by a lot of economic analysts, and of course has led to criticizm of the GoP's economic policies, but I believe it indicates an extremely positive aspect of our economy - growth has been fueled due to internal Pakistani growth, rather than indirectly from industry set up to cater to demand from abroad, which would depend a lot more on fluctuations in demand from abroad (economic swings, or simply reduction due to a "negative perception" of Pakistan).

While export growth should not be ignored, since it offers the Pakistani economy a much greater market and acts as a growth multiplier, the lack of dependance upon it till this point gives me a lot more faith in the resilience of the Pakistani economy, provided the GoP can keep inflation under control, manage some semblance of stability in the North West, and continue to increase revenues and continue to invest massively in domestic infrastructure, education and training, social services etc.

we r basically a agrarian society and the performance of this sector (it is not recognised as a industry) has been very erratic. the GoP really has to work very hard at this. we have the resources to be net exporter of food and fabrics. this would really help is boosting the export receipts as prices of all food and fibre commodities surge up.

 

[AgNoStiC MuSliM]

we r basically a agrarian society and the performance of this sector (it is not recognised as a industry) has been very erratic. the GoP really has to work very hard at this. we have the resources to be net exporter of food and fabrics. this would really help is boosting the export receipts as prices of all food and fibre commodities surge up.

I completely agree. For example moving towards the use of BT seeds, that India has utilized so effectively, would provide an enormous boost to production, and move millions of Pakistanis into a new economic class. But that isn't all that needs to be done - while Musharraf's intentions were good, I think that rather than corporate farming, we should move towards co-operative farming, where banding small/medium scale farmers together allows them to take advantage of economies of scale, but still keeps the majority of the income in the hands of ordinary Pakistani farmers, rather than corporations.

Regardless of which rout is taken, growth and affluence in the agricultural sector MUST be matched with growth in infrastructure (storage facilities, transport etc.) and social services such as education and health care in the rural areas, so that the "new Middle class" can offer its future generations options other than "working on the family farm", and the country can have a potentially wider talent pool to utilize in the arts, business, industrial and high tech sectors.