For economic healing both local and foreign investors need to be encouraged.

Byline: Khalil Ahmed

Govt must hunt for transparent, friendly and consistent policies to lure investment

Interview with Muhammad Abdul Aleem - CEO, Overseas Investors Chamber of Commerce and Industry

PAGE: Your views on investment in Pakistan:

ABDUL ALEEM: Pakistan or for that matter any country, will not be able to attract investment just because it is facing serious economic challenges of sustained negative Balance of Trade and Balance of Payments. Investment by both local and foreign investors is attracted by the opportunity for growth, the ease of doing business conditions and above all attractive incentive and business friendly policies, which are predictable, transparent and consistent and are implemented and delivered as promised. If we are able to deliver on above parameters soon, we have the potential to attract investment.

PAGE: What do you think is the missing point in terms of poor investment by the leading investors of the world with regard to Pakistan?

ABDUL ALEEM: Pakistan is a land of opportunities and has many positives to attract investment both from local and foreign investors. In my view the key constraints are 1) poor perception of Pakistan internationally which is worse than the reality; 2) very low rating on World Bank's Ease of Doing Business; 3) inconsistent policies and its below par implementation, examples are many but the delayed tax refunds, ever-changing taxation policies, interprovincial coordination issues are some of the examples. Moreover, there appears to be a lack of appreciation and encouragement to investors; sometime one can see an element of envy with those local or foreign investors who have done well. There is an urgent need for the media and the society at large to appreciate that if we do not encourage investment we will have serious problem of...