Captain Abdul Rashid Abro, a central leader of the Businessmen Forum (BF) and former Vice President of FPCCI, welcomed the United States’ commitment to fully supporting Pakistan in overcoming its economic challenges and implementing essential reforms. He acknowledged that Pakistan is emerging from serious financial challenges, and necessary economic reforms are crucial at this stage.
Captain Abro expressed satisfaction with the statement made by U.S. Deputy Ambassador to Pakistan, Natalie Baker, who confirmed America’s support for Pakistan’s reforms. He emphasized that the development of Pakistan is beneficial for the country, the entire region, and the world. It is vital for the U.S. that Pakistan and its citizens succeed and become an economic power in the area.
Furthermore, Captain Abro stated that for Pakistan’s economic recovery, the government must take significant steps, especially by resolving the issues faced by investors and industrialists and creating a conducive environment for new investments. The Governor of the State Bank acknowledged the significant reduction in inflation, and there is a strong possibility that the Monetary Policy Committee on December 16 will reduce the interest rate by another 2%.
He noted that Pakistan’s economy is showing promising signs of recovery, with the power sector playing a crucial role in advancing sustainable development. New investors are attracted to the country, and the economic update for November 2024 shows a significant increase in foreign direct investment (FDI), with $414 million invested in the first four months of the fiscal year 2024-25, accounting for 46% of total FDI. This investment includes $585.6 million in energy sectors such as electricity, oil, gas, and renewable resources. This positive trend is driven by the Special Investment Facilitation Council (SIFC), which is playing a transformative role in attracting investment and enhancing energy infrastructure.
Captain Abro concluded by stating that the government should ensure that the benefits of economic stability, including reduced inflation and other relief measures, are passed on to the public. The cost of living has become extremely difficult for the public, and if the government believes that the economy is moving toward recovery and stability, its impact should be visible in the daily lives of the people.
