Bonanza for Pakistani investors
Pakistan is indeed a brave nation as it has learned to adapt to unpredictable circumstances. In spite of the frequent violent outbursts and protests, which tend to cause further damage to the well- being of society and threatens the lives of innocent civilians, the nation’s defence mechanism has desensitized the people, enabling them to not let this serve as a hindrance in their everyday lives.
Most foreign investors are reluctant to make long- term investments or enter joint- ventures with Pakistan. A recent report revealed that foreign Investments in the country have been reduced by a massive 64.7 percent in this year alone. Foreign investment decreased from $ 2.15 billion to $ 1.573 billion in 2010- 2011.
Many countries would be willing to reap the benefits of the various untapped resources in Pakistan such as solar, wind and hydro power, along with the vast reserves of gold, coal and copper. There is a dire need for the economic experts, industrial representatives and members of parliament to cooperate with one another in an attempt to formulate solutions to re- attract reluctant foreign investors in order to support economic growth.
There have been instances where local investors took advantage of the departure of foreign investors. As opposed to the general assumption, not only were they able to handle the business but were able to reach new heights. Investing in the shares of Muslim Commercial Banks was probably one of the best business decisions made by Mian Muhammad Mansha. The efficiency of both MCB and Allied Bank improved, along with a notable increase in the percentage of deposits, advances and total assets. Moreover, both banks also provided more job opportunities, contributing to the national economy.
Their efforts should serve as an example of vision and determination and should also encourage other local investors and entrepreneurs to not underestimate their true potential. The local investors must take up the challenge of successfully replacing foreign investors.