ISLAMABAD (PR) - Chairman of Jeevay Pakistan Jeevay Muqami Hakoomat Daniyal Aziz has said it is alarming for the national economy that foreign investment in Pakistan decreased to 71 percent during 2007-2010.
In a statement issued by the JPJM’s Secretariat, Daniyal said $5.4 billion foreign investment came to Pakistan which was reduced to $1.73 billion in 2010-2011. He said in 2001-2, the foreign investment was only $485 million which kept increasing and reached to $5.4 billion in 2007 whereas during rule of the so-called democratic and poor-friendly party the foreign investment shrunk.
He said this sharp decline in foreign investment is a proof of government’s failure in implementing effective economic policies.
He said the government’s bad policies and governance led to rapid price-hike, poverty and unemployment, and if the government continued with the same policies, there would be a complete economic and social disaster in the country in near future.
He pointed out that domestic investment has also been decreased because of the government’s policies. He said that wastage of people’s money on luxuries of state functionaries has also increased burden of internal loans on the government, besides adding to inflation.
He said it appears as if the government has no economic vision and is working to protect financial interests of few persons instead of the country.