Peshawar: Advisor to the KP Chief Minister on Finance and Interprovincial Coordination Muzzamil Aslam, has issued a scathing review of the federal government’s economic performance, citing a severe crisis in foreign investment. Despite the government’s efforts, foreign investment barely covers the profits and dividends of foreign companies. Advisor on finance said that In the first seven months, the total foreign investment stood at $1.346 billion, while the outflow of profits reached $1.317 billion. Aslam criticized the government’s inability to attract significant foreign investment, with no major international player entering the Pakistani market since 2022 while India is in headline as a best investment destination. Mr. Aslam also slammed Prime Minister Shehbaz Sharif’s failure to secure investments despite numerous foreign trips. The government’s privatization efforts have also been unsuccessful, with no major deals in the past three years. The finance advisor concluded that the current government has failed to attract foreign investment, and Pakistan’s option to borrow from commercial banks globally has been frozen since 2022. The government has managed to secure some commercial loans at high interest rates, but borrowing from friendly countries is not a sustainable solution. News Desk
