June 22, 2016
President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Wednesday said Pakistan is experiencing real estate boom while its credit goes to the Rangers which has ensured peace in Karachi.
Rangers have infused confidence in the business community while the sector which seems to be most satisfied in construction sector as developers from Karachi are investing heavily in other cities of country which is also reducing unemployment and scarcity of houses, he said.
Mian Zahid Hussain said that Pakistan’s 250 billion dollar economy is at its best in the last eight years while country’s image is impeding foreign direct investment which will take time.
He said that middle class is expanding pushing growth to retail, services and auto sectors while a foreign automaker and a dairy firm are contemplating total investment of one billion dollars in Pakistani market.
Mian Zahid Hussain said that construction industry grew by 13.1 percent during the last one year but additional taxes and duties on iron and steel rods and cement can hamper its growth while compromising some profits.
He said that industrial production and services sectors are buoyant but falling sectors like agriculture, exports and investment should get more attention.
He said that Pakistan is at the bottom among South Asian countries as far as the allocation for water scarcity, health and education are concerned.