ISLAMABAD  - Special Assistant to the Prime Minister and Chairman Board of Investment Dr Miftah Ismail on Monday said that ongoing political uncertainty of the country is not sustainable for attracting foreign investors in Pakistan, as they are reluctant to invest in current circumstances. 

“Apart from the delay in signing of huge Chinese investment worth of $34 billion, the country may also witness delay in attracting investment from other countries like Japan, Turkey, Germany and others, as they were interested in invest in Pakistan prior to the political uncertainty”, said Special Assistant to the Prime Minister and Chairman Board of Investment Dr Miftah Ismail while talking to The Nation. The investors could move to other countries like India, Sri Lanka and Bangladesh if they witness prolong political uncertainty in Pakistan, he added.

He informed that many investors from Germany and Japan are hesitating to invest in Pakistan keeping in view the ongoing sit-ins of the Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) in federal capital. “A Turkish company has postponed its visit to Pakistan due to the political atmosphere of the country, as the company was interested in investing in aviation sector”, informed Dr Miftah Ismail.

Similarly, he said that another business delegation from Japan is now unlikely to come to Pakistan, which was interested in automobile sector of the country. He added that Japanese Prime Minister is currently visiting India for signing investment deals after his visit to Sri Lanka, but he did not visit Pakistan. 

Special Assistant to the Prime Minister said that opposition parties, hinting towards PTI and PAT, do not want that government complete the power projects by the 2017 with the help of Chinese investment. ‘There were several energy projects out of 10,000 megawatt, which are likely to be completed before the general election 2018 that will help in overcoming the power outages”, said Chairman Board of Investment Dr Miftah Ismail.

Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) are holding sits-in the Federal capital from almost four weeks that has not only crash the Karachi Stock Exchange and depreciated rupee but it had also postponed the visits of various heads of other countries including China.

Sources in Ministry of Planning Development and Reforms informed that Pakistan and China were scheduled to sign ten power projects and four mega projects during the visit of Chinese President. They informed that four-mega projects worth of around $17 billion included Karachi-Lahore motorway, Orange line metro project, Karakoram Highway (phase-II) and Gwadar port. Meanwhile, the energy sector projects included two Chashma Nuclear Power Plants (III and IV), coal-based power projects in different cities, 2000-megawatt power project in Port Qasim Karachi, 6600-megawatt Gadani power project in Balochistan, 1000-megawatt Quaid-i-Azam Solar Park and others.