ISLAMABAD: The business community of the federal capital has urged the government to remove hurdles from the foreign investment.
Islamabad Chamber of Commerce and Industry (ICCI) President Muzzamil Hussain Sabri expressed concerns over 47% fall in foreign direct investment (FDI) during July-May 2014-15, as compared to the same period of last year. He said that the FDI in Pakistan has declined to $803 million during the period July-May 2014-15, from $1509 million during the same period of last year.
Sabri said that it should be taken as a wake-up call by the government to address the problems that are acting as discouraging factors for foreign investors. He said Pakistan is endowed with plenty of natural resources including reserves of oil and gas, coal, minerals, hydel and solar power. However, he said, the country needs huge investment to exploit these natural resources for achieving better economic development.
