Pakistan has lost around $18 billion foreign and domestic investments in last three years due to terrorism and chronic energy crises, an official of Board of Investment said. The official told “Online” Saturday that the expected investment of about $18 billion of last 3 years did not come in Pakistan after investors cited the problems of terrorism and energy shortages. “Now government is making all-out efforts to build the confidence of foreign investors by removing the barriers that discourage investment in the country,” said the official, adding that terrorism and energy shortages have put long-off term investors. The official told that unstable law and order situation, political instability, corruption and inconsistent policies on part of government were also major impediments in way of promoting investment in the country. The official further told that the Board of Investment will now move ahead more rapidly for motivating local and foreign investors to invest in the country and through recently passed Special Economic Zones (SEZ) bill some of the investor countries like Korea, China and Japan were expecting to benefit from the scheme as soon as it became operational. According to the State Bank of Pakistan (SBP) foreign investment into Pakistan fell 65.6 percent to $680.4 million during financial year 2011-12 and foreign direct investment fell 50.3 percent to $812.6 million.
Pakistan never been Business Centric Country. The Economic as well as Commercial Policy maker in capital Islamabad are incapable of develpoing Business Oriented policy. We do not have " Growth," even with Political Government in Power in the country. Subtraction of Economic Values and Public Enterprises failure denting economic growth as well as denying prosperity to general masses.
Pakistan policy makers should concentrate on giving continous 24 hour Electricity as well as providing Natural Gas to many industrial sectors. Pakistan has so many " Official," as well as "Unofficial," Holidays. Basic Labor Force highly unskilled and many lacking basic schooling. Many government in power failed as well unwilling to provide basic primary education to general masses. It is not in Pakistan interest to keep devaluing its currency for good of few Agricultural exporters. Untaxed Agricultural Windfall profit after every Harvest Season now chasing properties in many localities.
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The Tax Payer in Pakistan Do Not Receive Any Monetary Benefit after reaching Retirement Age of Sixty. The Pakistan Government Employee as well as the Services Personal are beneficiary to Tax Payer payments. When a Citizen of Pakistan in compliance to pay tax under annual tax return Benefit must be provided to its Citizen reaching age of Sixty. Because there is no Monetary Retirement Benefit many Citizen are Hesitant to File Annual Tax Return. The Tax Payer of Pakistan are NOT beneficiary instead the tax payer are made to comply to pay Taxes in their Old Age. This is absolutely unfair in Pakistan.
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