Pakistan Army Chief's Efforts Revive Investor Confidence Amid Economic Crisis
The country's economy is currently in a terrible state. Prices are skyrocketing, jobs are becoming harder to find, and electricity bills are even higher than people's salaries. International respect for the country is almost nonexistent. Many Pakistanis who can afford to are trying to leave the country. However, recently, the Army Chief, General Asim Munir, addressed investors, and this gave people and investors some hope. It seemed that someone understood the problems facing both the country and its citizens and wanted to solve them.
I was listening to an interview with a well-known investor who had met the Army Chief. He shared that the Army, under General Asim Munir's leadership, was not only fully aware of the economic issues but was also working positively to resolve them. The businessman explained that due to the Army's efforts, smuggling through Afghan transit trade had significantly decreased. Importers were no longer facing issues in opening Letters of Credit (LCs), and the value of the Pakistani rupee had increased since the new government took charge. The Army Chief also explained that the difference between buying and selling dollars, which used to be 10-12 rupees, had now leveled out.
The security situation in Karachi has improved, and pharmaceutical investors reported that their exports had increased by 27% due to government policies. The Army Chief also mentioned that agricultural exports had reached $7.1 billion, and the IT sector had performed exceptionally well. Inflation was now in single digits, and Saudi Arabia and the UAE were planning to make significant investments in Pakistan. There were also improvements in oil and gas exploration, and the government was working to reduce electricity costs.
The Army Chief's speech turned into a discussion, where investors praised the government's good actions. They suggested that many investors who had moved money abroad now wanted to bring it back, but they needed an amnesty scheme to make it easier, which could bring $20-25 billion back to the country. The Army Chief promised to discuss this with the relevant authorities.
One of the key topics was about creating new provinces in the country, a demand from many political parties. The Army Chief suggested that new provinces should be created in a way that promotes development without causing conflicts. For example, Sindh could be divided into four smaller provinces, and Punjab into six, with similar divisions in Khyber Pakhtunkhwa and Balochistan. This would create competition among provinces, leading to more development and resources for the people.
It's encouraging that the Army Chief seems to understand all the country's issues. However, some overseas Pakistani investors who came to invest in their homeland out of love for the country have been trapped in false cases. If the Army Chief can also resolve their issues, it will restore their confidence and bring even more investment into Pakistan, as every overseas Pakistani's first love is their own country.
