Pakistani PM Shehbaz Sharif visited China, Saudi Arabia and the UAE lately searching for investments. But judges say he first needs to fix effects at home. Islamabad, Pakistan — In a series of passages over the once three months, Pakistan Prime Minister Shehbaz Sharif has tried to move the debt- strapped country’s three closest abettors China, Saudi Arabia and the United Arab Emirates — to invest in the nation, as its precariously deposited frugality looks for green shoots.
In June last time, under Sharif’s first term as high minister, the government formed a Special Investment Facilitation Council (SIFC), a high- powered body comprising Pakistani mercenary and military leaders, to promote investment in Pakistan. Following the tenures to Beijing, Riyadh and Abu Dhabi, the Sharif government is pointing towards a raft of memorandums of understanding inked on those passages as pointers of implicit investment coming to Pakistan.
Still, judges advise that the attempts to get foreign direct investment (FDI) will work only if Pakistan can promise a stable political geography and bring structural reforms to its frugality. So what did Pakistan get out of Sharif’s passages, and what does it need to do to attract investments as it prepares to negotiate with the International Monetary Fund(IMF) to enter its 24th loan programe since 1958?