Islamabad
\nMuhammad Azfar Ahsan, former Minister for Investment, stressed the need for Pakistan to prioritize optimizing its existing investments, advocating for a strategy that focuses 80% on nurturing current investors rather than concentrating on attracting new investments.
\nAzfar spoke at a special talk hosted by the China Pakistan Study Centre (CPSC) at the Institute of Strategic Studies Islamabad (ISSI) on the topic of \u201cPakistan\u2019s Investment Landscape: Challenges, Opportunities, and Way Forward.\u201d He emphasized that sustainable economic growth and stability can only be achieved by consolidating resources, improving capacity-building, and creating an enabling environment for investors. \u201cIf we focus 80% on existing investments, foreign investment will follow,\u201d he remarked.
\nComparing Pakistan\u2019s investment track record to its regional neighbors, Azfar highlighted that the country has attracted USD 49 billion in foreign investment over the last 25 years, averaging USD 2 billion annually. In comparison, smaller African nations attract USD 3 billion annually, Bangladesh secures USD 3.5 billion, and India pulls in USD 50 billion every year. \u201cThis disparity reflects the need for a coherent national strategy and reforms to improve Pakistan\u2019s competitiveness,\u201d he said.
\nAzfar also raised concerns about Pakistan\u2019s rapidly growing population, which is expected to reach 400 million by 2047. \u201cPakistan is the fifth most populous country today with 250 million people, and without a strategy to address education, health, and population growth, the country\u2019s prospects will remain bleak,\u201d he warned.
\nHighlighting the need for policy continuity and long-term planning, Azfar mentioned India\u2019s IT sector, which generates USD 200 billion annually. He emphasized that a strong education system, consistent policies, and strategic government initiatives are key to replicating such success in Pakistan.
\nTo address these challenges, he proposed the creation of a \u2018Charter of Business\u2019, a comprehensive economic strategy approved by the Parliament and the National Security Council, ensuring continuity across different government tenures. \u201cWe need policies that are not affected by changing governments,\u201d he asserted.
\nDrawing comparisons with other successful countries, Azfar Ahsan praised the robust investment environments provided by Saudi Arabia and Uzbekistan, urging Pakistan to adopt similar models. He also encouraged closer collaboration with China, particularly in technology exchange, noting that Pakistan\u2019s youthful population complements China\u2019s aging demographic. He further called for capacity-building in Pakistan\u2019s public and private sectors, stressing the importance of reforms within ministries to create a more favorable climate for local and foreign investors. \u201cIf the environment for local investment improves, foreign investment will follow naturally,\u201d he said.
\nAzfar also criticized the lack of long-term planning, frequent leadership changes, and the political instability that has hindered the country\u2019s progress. He urged a national-level dialogue to bridge political divisions and promote unity behind a shared national vision. He also underscored the need to engage Pakistan\u2019s diaspora, which, if provided the right environment, could significantly boost the country\u2019s economy. He pointed to the Roshan Digital Account as an example of an initiative that could succeed if executed seriously. \u201cPakistan\u2019s foreign reserves stand at USD 8.8 billion today, and tapping into the diaspora\u2019s potential could transform the investment landscape,\u201d he added.
\nOn political stability, he underscored the need for national dialogue and stakeholders\u2019 engagement. He warned that political polarization is the biggest challenge facing the country today and called for collective efforts to unify the nation\u2019s interests. \u201cMuhammad Bin Salman has worked with six different prime ministers of Pakistan \u2013 this political instability must end,\u201d he remarked.
\nLamenting the absence of a national-level strategy in key sectors such as health, education, media, tourism, food security, technology, and finance, he said: \u201cPakistan is facing an identity crisis. Are we a democracy, a kingdom, a dictatorship, or a presidential government? There is no unified vision,\u201d he observed.
\nAzfar urged the country to learn from countries like Vietnam, Middle Eastern nations, and Africa, where continuity of policies has been key to their success. \u201cSpecial Investment Facilitation Council (SIFC) is a good concept, but it is not sustainable. The Board of Investment (BOI) should not be ignored,\u201d he cautioned, advocating for a 25-year national strategy to guide the country\u2019s progress.
\nIn his concluding remarks, Azfar reiterated the importance of nation-building and the need to project positivity in the media, focusing on stories related to education, sports, and technology.
\n\u201cPolitical polarization is our biggest challenge. If we don\u2019t stop the negativity, it will only serve our enemies\u2019 aim to halt Pakistan\u2019s progress,\u201d he warned.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad Muhammad Azfar Ahsan, former Minister for Investment, stressed the need for Pakistan to prioritize optimizing its existing investments, advocating for a strategy that focuses 80% on nurturing current investors rather than concentrating on attracting new investments. Azfar spoke at a special talk hosted by the China Pakistan Study Centre (CPSC) at the Institute of […]<\/p>\n","protected":false},"author":2,"featured_media":435435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-435420","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n