Never in our history have we seen such huge foreign investment into Pakistan.
Foreign Investments in Pakistan Reaches $6 Billion
Rising foreign investment in Pakistan is setting new records with each passing day, reflecting attraction and opportunity attached with the growing economy. Pakistan’s first ISSN-certified independent daily E-newspaper, ‘Pakistan Times’ understands that foreign investment reached almost $6 billion during the first 10 months of the current fiscal 2006-07, rejecting speculations that general elections would bar the investors to put their money at risk. Though foreign investment has increased by over 47 per cent compared to the corresponding 10 months of last year. Latest official figures showed that foreign investment during July-April 2006-07 reached $5.979 billion against $4.049 billion during the corresponding period of last year. “It looks that foreign investment would reach $7.2 to $7.5 billion by the end of the current fiscal which will give immense support to country’s soaring current account deficit,” said Abid Saleem, an analyst. The government has been lucky that it received unexpectedly very high flow of workers’ remittances being sent by the overseas Pakistanis. During the first 10 months of the current fiscal, the country received $4.450 billion which was 22.6 per cent more than the corresponding period of last year. The fear of unexpectedly low exports growth and high import has been subsided by the record foreign investment and workers’ remittances. Pakistan has planned to launch Euro Bonds to fetch dollars from the market not relying on donor agencies but despite high commercial prices, the country would have to pay interest on the bonds. Sources said the government would launch Euro Bonds worth $1 billion and it is now encouraged by the latest rates assigned by the Standard & Poor’s. The rating agency assigned B+ to the bonds in pipeline. The rating agency also rejected the speculations that the recent political uncertainty would hurt Pakistan’s rating in the international bonds market. This supports the government to carry on its economic policies without making any significant change in the coming budget.
Gaining Momentum
Meanwhile, a report from Sialkot says that the Federal Privatisation and Investment Minister Zahid Hamid has said that the tempo of foreign investment has gained momentum and has increased to US $ 6 billion in the ten months of the current fiscal, and more investment is expected in coming months. Speaking at the inaugural ceremony of a motorcycle showroom on Sunday, he said economic activity is picking up in all sectors due to the effective policies of the government. He said poverty rate has dropped by 25 percent while the growth rate has increased considerably, while the per capita income has also doubled. “The government has ensured investment-friendly policies that provide an even playing field to foreign and overseas Pakistani investors,” he added. The minister said that industries are being set up in various fields to ensure a strong industrial base and attract maximum investors, both local and foreign. Earlier, Zahid Hamid along with district nazim Akmal Cheema inaugurated the motorcycle showroom.●
Re: Foreign investment poised to reach $7.5 billion for this year
Yeah, hope it happens... But Mush and MQM fudged alot of things up as Karachi has lost a lot of bussiness and cash. Some bussiness people said it may take atleast a year before foreign bussiness people regain confidence in the city. Plus, who knows how much money is being lost because of all the political probs around.
Re: Foreign investment poised to reach $7.5 billion for this year
Yah I knew of this news from the press. On many fronts, positive development...but that will vanish if the Islamists take power.
It is not just Islamist, but any past crook governments could bring back those dark economical situations Pakistan has seen before President Musharraf. Once he would go, looting and plundering would again start in big way, resulting in stagnant economy, depreciating rupees, diminishing foreign exchange reserves, increasing interest rates, increasing debt, and huge outflow of capital. It is easy for government to destroy economy of a country but very difficult to rebuild the economy and sustain that.
Re: Foreign investment poised to reach $7.5 billion for this year
Yah I knew of this news from the press. On many fronts, positive development...but that will vanish if the Islamists take power.
Really...it's already beginning to vanish with the secular degenerates running amock in Karachi...
FDIs are driven in most cases by purely economic realities...If Pakistani middle class sustains it's access to cash -- remittances and foreign aid -- multinationals would continue to milk them as a market and throw a few bones here in there in the form of FDIs...
Re: Foreign investment poised to reach $7.5 billion for this year
It is not just Islamist, but any past crook governments could bring back those dark economical situations Pakistan has seen before President Musharraf. Once he would go, looting and plundering would again start in big way, resulting in stagnant economy, depreciating rupees, diminishing foreign exchange reserves, increasing interest rates, increasing debt, and huge outflow of capital. It is easy for government to destroy economy of a country but very difficult to rebuild the economy and sustain that.
Don't worry this sort of ignorant and rather juvenille analysis is produced when one first escapes from the Cafe forum...
Re: Foreign investment poised to reach $7.5 billion for this year
It is not just Islamist, but any past crook governments could bring back those dark economical situations Pakistan has seen before President Musharraf. Once he would go, looting and plundering would again start in big way, resulting in stagnant economy, depreciating rupees, diminishing foreign exchange reserves, increasing interest rates, increasing debt, and huge outflow of capital. It is easy for government to destroy economy of a country but very difficult to rebuild the economy and sustain that.
Re: Foreign investment poised to reach $7.5 billion for this year
Really...it's already beginning to vanish with the secular degenerates running amock in Karachi...
FDIs are driven in most cases by purely economic realities...If Pakistani middle class sustains it's access to cash -- remittances and foreign aid -- multinationals would continue to milk them as a market and throw a few bones here in there in the form of FDIs...
its is sad man, secular degenerates in karachi, beardo weirdos goign crazy in islamabad, afghan pigs and their lovers launchign suicide attacks in Peshawar. I think if this continues we will see all the positives of the last few years melt away and we will be ack to the piss poor condition we were during benazir and nawaz terms.
Re: Foreign investment poised to reach $7.5 billion for this year
Karachi Stock Exchange touches record height in the history
The Karachi Stock Exchange (KSE-100) index touched new height breaking the record in the history of Pakistan to close at 12663 points on Thursday. The KSE trading started with 54 plus points in the index and at one stage the index crossed 12674 points due to unprecedented interest of investors in cement and banking sector. However, the index could not maintain 12674-point mark and with increase of 167 points it closed at 12663 points
Re: Foreign investment poised to reach $7.5 billion for this year
its is sad man, secular degenerates in karachi, beardo weirdos goign crazy in islamabad, afghan pigs and their lovers launchign suicide attacks in Peshawar. I think if this continues we will see all the positives of the last few years melt away and we will be ack to the piss poor condition we were during benazir and nawaz terms.
Ahh...the equal opportunity rant which doesn't quite cover everybody...
Re: Foreign investment poised to reach $7.5 billion for this year
I present you, the full text of last two posts by CheGuvera in this thread, in response to perfectly coherent, to the point and meaningful messages from Sa1eem and Fraudia:
To Sa1eem:
[quote]
Don't worry this sort of ignorant and rather juvenille analysis is produced when one first escapes from the Cafe forum...
[/quote]
[quote]
Ahh...the equal opportunity rant which doesn't quite covers everybody...
[/quote]
Even Mullahs and the secular degenerates aren't so bitter. Someone so rabid, should be put down swiftly.
Re: Foreign investment poised to reach $7.5 billion for this year
Ahh...the equal opportunity rant which doesn't quite covers everybody...
I just balance your one sided statements. Those that I did not cover were already stated by you multiple times :) the list is not supposed to be comprehensive anyway, otherwise I would have to write about FATA area foriegn fighters, and sipah e sahaba type loons and BLA etc as well.
Re: Foreign investment poised to reach $7.5 billion for this year
I just balance your one sided statements. Those that I did not cover were already stated by you multiple times :) the list is not supposed to be comprehensive anyway, otherwise I would have to write about FATA area foriegn fighters, and sipah e sahaba type loons and BLA etc as well.
Abay yeh to Affirmative Action hogaya...more like quota system...
Re: Foreign investment poised to reach $7.5 billion for this year
Such huge interest in Pakistan’s bonds.
Pakistan sells $750 mln in bonds; demand good
Pakistan sold $750 million worth of 10-year bonds on Thursday, finding strong investor demand despite political turbulence ahead of the country’s presidential elections later this year. The new bond, which matures on June 1, 2017, has a coupon of 6.875 percent and was priced at par, with a spread of 200 basis points over comparable U.S. Treasury notes, the Pakistani government said.** The deal, managed by Citigroup, HSBC and Deutsche Bank, was seven times oversubscribed, with a total demand of $3.5 billion, said Pakistani Prime Minister Shaukat Aziz. “This is a vote of confidence by the international community in Pakistan’s policies and its economy,”** Aziz told reporters in Islamabad. Pakistan had initially offered to issue $500 million of the 10-year bond, but increased the deal to “accommodate quality investors,” Ashfaque Hasan Khan, an adviser to the prime minister, told Reuters in a phone interview. “That was the fastest book-building for Pakistan. We went for a road show on Monday, announced the deal and the initial price guidance on Tuesday, and we closed the deal today,” Khan said, adding that the new issue was evenly distributed between Asian, European and U.S. investors.