Despite Global Recognition, Pakistan Failing to Attract Investment, Says Miftah Ismail

Karachi:Former finance minister Miftah Ismail has said it is alarming that despite Pakistan’s improved international reputation, the country is unable to attract even minimal foreign investment.

Speaking on Geo News’ program *Aaj Shahzeb Khanzada Kay Saath*, Ismail said that the rise in unemployment was expected because the economy is not experiencing any meaningful growth.

He stressed that it is a matter of serious concern that “despite gaining respect globally, we are not able to bring in even a single rupee of investment.”

The former finance minister said that without institutional reforms, there is no possibility of achieving 6% economic growth anytime soon. “We tax a person earning Rs 50,000 a month but not someone owning a thousand acres of land,” he added.

Ismail further said that to make Pakistani industries competitive in the export market, the government must lower not just tax rates but also electricity and gas prices.