Boosting Pakistan Economy

Any economist would agree to the fact that foreign investment is critical for the economy and job market in Pakistan. As the economy continues to improve so does the foreign investors' confidence. Just today in National Assembly Minister for Information and Broadcasting Dr. Firdous Ashiq Awan announced the new numbers for growth in the foreign investor sector.

Madam Minister claimed the foreign investment to have reached a $1231.7 million mark. She claimed that the overall profile of foreign investment improved from US $969.5 million to US $1231.7 million during last eight months as compared with the same period of the corresponding year. She said foreign investors had demonstrated keen interest in the country as they invested $325.7 million in oil and gas sector, $121.3 million in banking sector and $102.7 million in telecommunication industry. All of which helps economy and creates sustainable jobs.

Responding to a question, the Information Minister said the government was planning restructuring of all those public sector organizations that were suffering from losses. She said the government had launched initiatives such as national motivation campaign in order to encourage Pakistani citizens to invest their money. She further stated that the investors now realize that investment made in Pakistan would never be at risk despite there being global recession and economic meltdown.

It was also reported that the Remittances by overseas Pakistanis increased by 22.37 per cent, to over $8 billion, in the first nine months of the 2010/11 fiscal year, and in March a record $1.05 billion was received, according to data from the State Bank of Pakistan

The recent economic numbers, surge in the stock exchange, compiled with a fairly stable political climate is giving positive indicators for economic prospects.