Sunday, March 29, 2020

Efforts required to stabilize Stock Market: Zahid

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Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said that investment outlook of the Country is becoming better give to reforms’ policies of the PTI government and successful foreign visits of the Prime Minister Imran Khan. Several countries have shown interest in investment in Pakistan in addition to China’s CPEC project.

The Veteran Business Leader while talking to the business community said that Saudi Arabia has planned to establish World’s largest oil refinery in Gwader which will fetch around $ 5 billion of foreign investment. UAE in addition to $ 6 billion relief package for Pakistan has shown interest in investment in Pakistan. Russian and Pakistan have signed a $ 10 billion agreement of gas pipeline project, which is reported to be the biggest agreement between the countries. Germany, an economically leading EU country has consented to invest in the SME sector of Pakistan. Its industrial sector is 99 percent based on SME, providing employment to 60 percent of its people.

The Former Minister said that Malaysia has also consented to invest in different sector of Pakistan including infrastructure, housing and telecommunication. The bilateral trade between both countries stood at around $ 1 billion, which need to be increased. Malaysia is World’s best market for Halal meat; Pakistan can fetch the global meat market by arranging Halal and hygiene certification. Pakistan is 4th biggest buyer of Malaysian Palm oil.

Mian Zahid Hussain said that Uzbekistan has stressed on increased trade with Pakistan; areas with huge trade potential include agriculture, construction, mineral resources & mining and textile where both countries can collectively improve trade. Government need to take practical measures to boost international trade which will curb poverty and improve per capita income. Uzbekistan can be the gateway to many Central Asian countries.

Mian Zahid Hussain said that to represent Pakistan’s soft image globally, the Govt. needs to take measures and the projects for EoDB should be implemented faster so that the destiny of rich Pakistan may be achieved. Foreign direct investment in Pakistan stood at only $ 1.5 billion from July – December 2018, which is far less than the same period of previous year. Stock market is also destabilized. Govt. needs to make an investment friendly environment by resolving problems faced by investors.

Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

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