Govt advised to partner with FPCCI to increase foreign investment

Pakistan, August 18, 2024: The government is advised to collaborate with the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to attract foreign investors and increase foreign investment.

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FPCCI can enhance Pakistan’s economic profile globally as an apex trade body. The former prime minister referred to the current turmoil in Bangladesh, which led to the withdrawal of foreign investment. He further stated that immediate action is required to redirect those funds, specifically textile export orders, to Pakistan.

The former prime minister pointed to India, Vietnam, and Cambodia as potential competitors. He said these countries could seize the opportunity if Pakistan did not act within 2 weeks. He further said that the government should take the initiative to reduce energy costs to 9 cents per unit and lower the interest rate to 12%.

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It is time for Pakistan to revitalize the textile industry and facilitate the domestic supply chain for exports under SRO1125. Pakistan will generate job opportunities and secure substantial investment if it takes advantage of this opportunity.

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