The Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, as well as former provincial minister Mian Zahid Hussain, said on Monday that every government in Pakistan has prioritized loans and aid over investment.
He said that the entire nation is suffering because policymakers have the wrong priorities, and now the country cannot survive without begging.
Speaking to the business community, the veteran business leader stated that every government has always relied on tall claims instead of practical work.
He said that most of the world’s countries consider Pakistan a beggar, while creditors are also tightening their terms due to negative perception.
However, the current government is prioritizing investment during a period of significant economic damage.
The majority of the business community still thinks that improvements are still possible, which calls for actions in the right direction.
Mian Zahid Hussain said that with the actions of the current government, the frustration of the business community, stock market, IMF, and friendly countries is decreasing.
We should take advantage of Saudi investors’ commendable interest in Pakistan. Saudi investors want to invest in their favorite sectors, but it is our policymakers’ job to attract them to the sectors that Pakistan needs most.
The Saudi Crown Prince is also upset with Pakistan’s red tape obstacles and has expressed this at the highest level, so SIFC should not allow any hindrance to investment.
Mian Zahid Hussain added that the country’s economic condition is neither able to withstand the shocks of the mafia nor stable enough to withstand failed experiments; therefore, there is a need to work very carefully in the shortest possible time.
He demanded that those who are sacrificing the economy for their personal gain must face such severe consequences that no one can consider similar actions in the future, thereby enhancing the country’s reputation and providing relief to the populace.