Karachi: Muhammad Azfar Ahsan, former Minister of Investment for Pakistan, delivered an insightful talk at the Institute of Business Management (IoBM) on "Pakistan's Investment Landscape: Challenges, Opportunities, and the Way Forward" on October 17, 2024. He provided a comprehensive analysis of the nation's investment climate, outlining key challenges, emerging opportunities, and strategic recommendations for driving sustainable economic growth.
Azfar Ahsan highlighted four critical areas: foreign direct investment (FDI) data and its economic impact, foundational issues, a roadmap for improving the investment landscape, and the influence of political and religious factors. He emphasized the urgent need for reforms, criticizing the country's reliance on assumptions rather than data-driven decisions, which he argued hinders progress and economic development.
He noted that with 67% of Pakistan's population comprises of the youth, the country ranks as the fifth-largest globally. He stressed that such a young, dynamic nation cannot be managed through short-term, ad-hoc measures. Instead, he advocated for long-term strategies spanning 15 years or more to tap into the youth bulge, calling for strategic investment and unified political vision beyond party politics to ensure Pakistan's long-term prosperity.
He urged the audience to reflect on Pakistan's future, stating, "This is the age of economic interests, where success is defined by mutual exchange and strategic partnerships." He called for a complete restructuring of ministries and institutions to position Pakistan on a path to long-term prosperity. Furthermore, Mr. Ahsan underscored the urgent need for greater collaboration between ministries, advocating for the merging of ideas, ideologies, and insights to foster progress. He highlighted the importance of nurturing a culture of continuous learning and called for the inclusion of private-sector professionals into public-sector roles to facilitate public-private partnerships to enhance governance, innovation, and development.
He addressed a critical national issue: the imbalance between productivity and satisfaction. “As a society, Pakistan often finds contentment in minimal output, leading to a disconnect between effort and results,” he noted. He emphasized the need for a cultural shift that prioritizes efficiency, hard work, and productivity to foster meaningful progress. He further stated, “A national strategy is essential to overcome extreme political polarization,” urging the nation to come together as Pakistanis united by a common purpose and vision for the future.