Pakistan

Foreign investment in Pakistan has been worst in last four years: Asad Umar

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar on Friday said in the last 30 years foreign investment in Pakistan was the worst in the four years of the government of the Pakistan Muslim League-N (PML-N), ARY News reported.

“Despite heavy investment by China under the China Pakistan Economic Corridor project, the overall foreign investment in Pakistan is less than what it was in Pakistan Peoples Party (PPP) chief Asif Ali Zardari’s government,” he claimed while talking to media after the federal budget speech presented by Finance Minister Ishaq Dar in National Assembly.

He said it had been four years and there was no significant improvement in terms of the economy.

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“Exports have plunged from Rs25 billion to Rs20 billion in the last four years and our imports have increased during the tenure of the PML-N government,” he said.

Asad Umar said trade deficit of the outgoing financial year was at 26.5 billion dollar after 10 months and by the year end the deficit would cross 30 billion dollar.

He concluded that the total trade deficit this year would be double the deficit the country faced in the last year of the previous government.

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“This is the reason that the country is increasingly getting under debt by the time and our already under question autonomy will be subjected to more restrictions,” he said.

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