Prime Minister Shehbaz Sharif would know better than to believe in the glory of his lofty plan to open up Pakistan\u2019s economy. Government after government has tried (or at least, claimed) to revolutionise the ease of doing business so that investors \u2013 both foreign and home-grown \u2013 can feel more comfortable in taking risks on our fragile finances.
\nNevertheless, all of them know beforehand: razzmatazz alone cannot help the business climate, which faces substantial challenges and requires immediate, undivided attention. Before making an impressive plea to the influential club, Islamabad would have to care for the persistent economic instability and pervasive uncertainty that has come to define its terrain in the recent past. The continual fluctuations in the value of the Pakistani rupee, soaring inflation rates, and inconsistent government policies have created daunting obstacles for businesses to operate and flourish. Before hopping aboard the self-congratulatory bandwagon for coming up with the \u201clargest reform programme,\u201d Mr Sharif might take a quick peek at the deeply-entrenched menace of corruption impeding any business growth in Pakistan.
\nInadequate infrastructure in Pakistan stands as another pivotal factor, wherein investors get increasingly discouraged by the unreliable electricity provision, that too at unsustainable costs. There must be some compelling evidence to convince outsiders to take a chance on us at a time when a majority of big shots from our textile industry have already crossed borders, transferring their business alongside.
\nContrary to what we were led to believe, things have only headed for the worse in the last three years, and therefore, the government\u2019s resolve \u2013 though well-intended \u2013 is not in sync with the ground realities. What has the incumbent government done to resolve the uncertainty stemming from the chaotic political environment, discouraging businesses from making long-term investment decisions?
\nEven if the ongoing economic downturn and the dependence on international creditors cannot be resolved immediately, any sovereign government should have a clear vision to involve relevant stakeholders regardless of their political affiliations to send out the right message.
\nWe need fresh, proven but realistic ideas.<\/p>\n","protected":false},"excerpt":{"rendered":"
Prime Minister Shehbaz Sharif would know better than to believe in the glory of his lofty plan to open up Pakistan\u2019s economy. Government after government has tried (or at least, claimed) to revolutionise the ease of doing business so that investors \u2013 both foreign and home-grown \u2013 can feel more comfortable in taking risks on […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":{"0":"post-424501","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-editorial"},"yoast_head":"\n