https://sputniknews.in/20230901/islamabad-briefs-diplomatic-missions-about-investment-opportunities-in-pakistan-3985718.html
Pakistan Briefs Diplomatic Missions About Investment Opportunities in Country
Pakistan Briefs Diplomatic Missions About Investment Opportunities in Country
Sputnik India
Pakistan on Friday urged diplomatic missions in the country to ask their nations to invest in the South Asian Islamic nation, its Foreign Office said in a statement.
2023-09-01T20:53+0530
2023-09-01T20:53+0530
2023-09-01T20:54+0530
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Pakistan on Friday urged diplomatic missions in the country to ask their nations to invest in the South Asian Islamic nation, its Foreign Office said in a statement.Why Pakistan Needs Foreign CapitalThe development is the latest in Pakistan's efforts to lure foreign investors to the country amid growing concerns over the state of its economy.Besides depleting foreign exchange, Pakistan was ravaged by massive floods this year in June - this was the second successive year when the country faced such a climate situation following last year's flooding in multiple provinces that left over 2 million people homeless and more than 1,700 killed.With Pakistan's growth slumping to 0.29 percent compared to 6.1 percent recorded last fiscal, former Prime Minister Shehbaz Sharif created a Special Investment Facilitation Council (SIFC) to accelerate economic recovery in the country.After Sharif resigned from his position ahead of national polls, the caretaker government led by interim Prime Minister Anwaarul Haq Kakar has tried to follow the same trajectory, making efforts to bring foreign capital to Pakistan.Sharif had previously set a target of $5 billion FDI from friendly nations.
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Pakistan Briefs Diplomatic Missions About Investment Opportunities in Country
20:53 01.09.2023 (Updated: 20:54 01.09.2023) Pakistan's economy has faced multiple challenges this year - dwindling forex reserves to record inflation to Pakistani currency hitting its lowest against US dollar, it has experienced all.
Pakistan on Friday urged diplomatic missions in the country to ask their nations to invest in the South Asian Islamic nation, its Foreign Office said in a statement.
"The participating diplomatic missions were requested to brief and encourage their countries to profit from the promise of Pakistan being a
resource-rich country," the press brief from the Foreign Office read.
Why Pakistan Needs Foreign Capital
The development is the latest in Pakistan's efforts to lure foreign investors to the country amid growing concerns over the state of its economy.
Besides depleting foreign exchange, Pakistan was ravaged by massive floods this year in June - this was the second successive year when the country faced such a climate situation following last year's flooding in multiple provinces that left over 2 million people homeless and more than 1,700 killed.
With Pakistan's growth slumping to 0.29 percent compared to 6.1 percent recorded last fiscal, former Prime Minister Shehbaz Sharif created a Special Investment Facilitation Council (SIFC) to accelerate economic
recovery in the country.
After Sharif resigned from his position ahead of national polls, the caretaker government led by interim Prime Minister Anwaarul Haq Kakar has tried to follow the same trajectory, making efforts to bring foreign capital to Pakistan.
Sharif had previously set a target of $5 billion FDI from friendly nations.
