RAWALPINDI - The official statistics have showed that net foreign direct investment into Pakistan declined 27 per cent under the rule of PML-N government.

“Net FDI into Pakistan was 54 per cent in November 2012 during the PPP regime whereas it has shrunk to 27 per cent in N-league government in November 2013, damaging the economy badly.”  The Nawaz government, which was believed to be business friendly government, has also failed in providing relief to business community.These views were expressed by Rawalpindi Chamber of Commerce and Industry (RCCI) President Dr Shimail Daud Arain at a press conference to announce the schedule of All Pakistan Chambers Presidents Conference here on Wednesday.

He said that Rawalpindi Chamber was going to organize two days 6th All Pakistan Chambers’ Presidents Conference from 16 to 17 December 2013 in Bhurban, Murree. Dr Shimail, speaking on the occasion, said that the federal government has proved anti-business community because of its erroneous policies.

 He said that FDI has declined from 54 per cent to 27 per cent in a year and cost of doing business has been increased and purchasing power of the masses has reduced to level that businesses were under great threat.

“Industry is facing immense problem and about to shut down because of energy crisis and gas shortage; business community supports Pak-Iran gas pipeline and demand government to start work on the same project on war footing basis”, he said.

President RCCI said that owing to deteriorating law and order situation country was facing loss amounting to billion of rupees in a day and Karachi which was the largest city and business hub of country was also facing worst situation in terms of law and order. The decline in the value of rupee against US dollar triggered uncontrolled price hike in Pakistan that has even snatched two time meals from masses.

He said that presidents from 32 Chambers of the country including Federation of Pakistan Chambers Of Commerce and Industry (FPCCI), Karachi, Lahore, Faisalabad, Sialkot, Quetta and KPK Chambers etc will participate in the said conference to discuss the problems faced by the business community and announce joint declaration.”

He said that the representatives from major political parties would also attend the conference. He said that main agenda of the conference was to evaluate the performance of the government in the light of their promises made in May election campaign and also suggest the government about the priorities of the leaders of the business community of the country.

On a query, Dr Shimail condemned government decision of closure of gas to CNG and industrial sectors. However, he supported government’s loan scheme.

RCCI senior vice president Malik Shahid Saleem, vice president Muhammad Alam Chughatai, group leader Sheikh Shabbir, former presidents and members’ executive committee were also present on the occasion.