ISLAMABAD: Pakistan Economy Watch (PEW), expressing concerns over declining investment and exports in the country and said that the Board of Investment (BoI) and Trade Development Authority of Pakistan (TDAP) are doing nothing to overcome the situation and becoming white elephants.
While talking to media, PEW President Dr Murtaza Mughal said that no one is held responsible for the situation which indicates non-serious attitude of the government and ability of its economic managers. He said that foreign investment in Pakistan is down by 58.2 percent to $709 million while it is $850 million in Sri Lanka, $1.5 billion in Bangladesh, $3.5 billion in India and $4 billion in Ghana.
“Pakistan saw a slide of almost five percent in exports to $23.8 billion in one year while Bangladesh exports stood at $35 billion during the same year which is amazing,” he said.
Dr Murtaza pointed out that despite receding oil prices exports were going down while imports were increasing touching mark of $45.9 billion which is a dangerous trend pushing trade gap to $22.1 billion. The situation has discouraged foreign and local investors paving way for flight of capital, he said, adding that situation will remain the same unless few heads roll.
