PAC rejects IB’s claim that Pakistan has more foreign investment than India, Sri Lanka


Public Accounts Committee (PAC) rejected the Investment Board’s (IB) claim that Pakistan was ahead of other countries in the region, including India and Sri Lanka, in terms of foreign investment.
PAC met on Wednesday under its Chairman Nadim Afzal Gondal in the Parliament House to review audit observations in respect of the Ministry of Religious Affairs and IB.
IB Secretary Anjum Rashid told the committee that Pakistan was ahead of India and Sri Lanka in attracting foreign investment despite the fact it was faced with the challenge of terrorism and energy crisis.
Investment was on the rise in gas and petroleum sectors, he pointed out.
The committee rejected this claim and said that those investments had in fact not been made.
PAC summoned a written report from IB within 5 days in respect of investments made in the country.