Pakistan expects more foreign investment

Added On November 2, 2019

Advisor to Pakistani Prime Minister on Commerce and Textile has said the country is now on a right trajectory of economic and managerial reforms which makes it favorable for foreign investors.

Addressing the international media along with his team members in Islamabad,? Abdul Razak Dawood said there has been a reform process across all levels of government institutions to facilitate the businesses which is well reflected in the latest statistics.
He said that generally when an investor plans an overseas investment venture, the first thing he or she?checks is the ease of doing business index of the World Bank.
Pakistan is taking a more concrete step with the World Bank's?assistance to further improve the rules and procedures together with the annihilation of the unnecessary details in this regard.
SOUNDBITE(English): ABDUL RAZAK DAWOOD, Advisor to Prime Minister on Commerce
"Beside this ease of doing business, which is an important part but around it there is another initiative again with the World Bank where we are looking at a much wider things than the ease of doing business. And we have a regulatory guillotine. Wherever, we have processes in the federal government, in the provincial government and the district governments. Wherever, there are processes which are of no value, do not add any value at all start guillotine or start removing them."
However, the advisor said, still there are areas in the economy that need to be capitalized especially, the services sector.
Its potential is not being captured by Pakistan yet.