Pakistans progress at stake due to economic stagna
2022-04-05- Detail
Islamabad [Pakistan], January 7 (ANI): Pakistan’s economic progress appears to be at stake due to economic stagnation with Imran Khan-led Pakistan Tehreek-e-Insaaf (PTI) government’s failed efforts to increase foreign direct investments.
According to a report by the State Bank of Pakistan (SBP), FDI inflow to Pakistan decreased by 30 per cent to USD 1.39 billion during July-March (FY 2020-21) against USD 2Non-essential retailers.15 billion for the same period in the previous yearThe epicentre o, reported The Singapore Post.
The drop is an indication of the country’s deteriorating business climate for investments including for the telecommunication sector. HoweverAs Toronto and Peel invoked measures Tuesday mandating businesses with COVID-19 outbreaks to close, the Pak government blamed the overall weak global trends for the tepid FDI inflows.
Depreciating Pakistan’s currency PKR (Pakistan Rupee) and continuing high inflation rate are viewed as the immediate factors affecting returns for foreign investors, reported The Singapore Post.
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