ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday directed all ministries to prepare recommendations for domestic, foreign investment and development projects related to their sectors, state media reported as Islamabad eyes sustainable economic growth.
The premier’s directives came while he chaired a meeting of the federal ministries on the implementation of economic governance reforms, state broadcaster Radio Pakistan reported.
Foreign direct investment inflows in Pakistan fell by more than 25 percent to $927 million during the July-November period, as per data from the central bank. Pakistan’s FDI inflows have never surged beyond $3 billion in nearly 20 years, worrying Islamabad as it seeks to escape a prolonged macroeconomic crisis.
“Prime Minister Shehbaz Sharif has directed all ministries to promptly prepare recommendations for domestic and foreign investment and development projects related to their respective sectors,” Radio Pakistan reported.
Sharif said it was his government’s top priority to provide institutional and administrative facilitation to investors.
The prime minister instructed federal ministries to provide “special importance” to proposals that promote exports.
“The prime minister directed the concerned ministries to provide effective support through Pakistani embassies worldwide to facilitate foreign investors,” the state media said.
Sharif stressed that equal attention be provided to industrial production, agriculture, and other key sectors to increase investment.
Pakistan’s government has said it is eyeing sustainable economic growth, driven by exports and foreign investment.
The South Asian country has recently signed agreements worth billions of dollars with regional allies such as Gulf nations, China and Central Asian nations to enhance cooperation in trade, investment, tourism, livestock, mines and minerals, and other sectors.
