Byline: Khalil Ahmed 1 week ago Interviews 244 Views
Professor Syed Ali Abbas Abidi needs no introduction. He is a renowned educationalist of Pakistan. He is an erstwhile Vice Chancellor of a private university and holds LLM, MBA, M.Com, MA (Eco), LLB, CPA (Australia), CPA (UK), APFIP (USA), CICA (USA), CFC (Canada), ACIS, AITM, CBE, CTP, DIBF and DICS. He renders his services as a legal expert especially in business, taxation and corporate laws.
PAKISTAN and GULF ECONOMIST had an exclusive discussion with Professor Syed Ali Abbas Abidi regarding economy of Pakistan. Excerpts of the conversation are as follows:
I think the incumbent Prime Minister as compared to the previous Prime Ministers has more face value inside and outside Pakistan. Further he has good relations with the people who are brands of Pakistan. People like Wasim Akram, Waqar Younis, Shoaib Akthar, Javed Miandad, Majid Khan, Jhangir Khan, Jehanshar Khan, singers like Abarar, Shahzad Roy, Ali Zafar, Ali Azmat, Film and Drama actors and actresses, and top hockey players. If Imran Khan uses these people as ambassadors and Consul Generals and send them abroad, they can better represent Pakistan and I have no doubt in my mind that they will bring top notch businessmen in Pakistan. If these people go to Chamber of Commerce of the world and appeal to expatriates and foreigners for investing in Pakistan, the size of foreign investment will increase and the gap between export and import would narrow down and also the problem of foreign exchange will be solved.
We should give target to Ambassadors and Consul General with percentage of commission in salary and perks if they are able to motivate foreigners and expatriates to investment in Pakistan. We have got news that most of our Consul Generals and Ambassadors do not attend foreign Chamber of Commerce meetings, Expos, and are unable to become instrument to bring foreign investment.
The government needs to come up with Public Private Partnership with option of tax holidays so investors will be attracted to invest. Changes have to be done in tax laws and incentives should be given to the investors such as loan on low interest rate. Pakistanis are good donors. If government asks small amount from people and use such amount in building public limited listed companies, people will be ready to pay as they will get dividend in future and more jobs will also be available for the youth. Such amount can be collected from people by way...