2014: Pakistan Economy Set to Improve
There is optimism on the horizon for Pakistan’s economy 2014. The business community believes there is a more positive outlook for 2014 as compared to 2013 with significant economic-political improvements about to emerge.
The economy is set to get back on track through various means, including: removing stringent budgetary measures, strengthening consultation between the public and private sectors and other related business incentives. According to The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President, Zubair Ahmed Malik Pakistan is likely to encounter “relative stability” this year which will positively influence the overall situation in the region.
In addition, the rupee will become more stable and Forex reserves will improve. Malik believes the key to Pakistan’s stability for 2014 is with economic managers, military and politicians. Terror and bhatta mafia must be stopped so that the business community can thrive in a safe environment. This sentiment has been further reiterated by the Pakistan Industrial and Traders Associations Front (PIAF) that hopes 2014 will prove to be a year of economic rival for the region.
This has to be achieved soon. Nawaz Sharif recently lost control over the army. The IMF loan is now only providing a temporary respite as the region’s currency is facing heavy pressure and efforts to resolve the crisis in the power generation sector. So that has to change.
Still, on the flip side, Pakistan is offering substantial investment opportunities in the energy infrastructure and textile industries. The region is also hoping that its new investment-friendly policies will result in global business individuals (most notably Chinese ones) to invest more.