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PM’s narrative at Davos

PM’s narrative at Davos

Prime Minister Nawaz Sharif’s announcement in Davos that Pakistan is ready to do business with the world is the rephrasing of his first speech in the office that the motto of his government will be business, business and business. The prime minister is in Davos city of Switzerland where he attended 47th Annual Meeting of the World Economic Forum and meeting with head of the governments and business tycoons from various countries of the world. Explaining the economic environment of the country, he invited the businessmen to take benefits of the ‘first mover’s advantage’ in the economic revival programme. It is unfortunate on the part of the prime minister that instead of introducing reforms in the decayed industrial, business and financial sectors of the country, his thrust is on political situation. After three years in the office, he has failures in his credit more than the achievements he claims. The energy crisis is the worst nightmare for the industry and complex financial transaction laws are haunting trade and business.

In this era of information technology, no secret remains in any part of the world. The entrepreneurs all over the world look opportunities to flourish and expand their businesses rather than concentrating on the political situation in a particular country. There is limited democracy in China, but it is attracting investment from all over the world due to its liberal economic policies. The nations are no more nations, but economies.

What the Nawaz Sharif government needs to do is to create conducive environment to attract foreign investors. In a situation where local investors are reluctant to invest and are looking for opportunities even in hostile countries like Bangladesh, how the government can expect that the foreign investors will put their money in economically unstable country. No doubt the World Economic Forum is a great opportunity for the developing nations to meet global policymakers, business leaders and investors, who are in position to shape the future of world. However, the first point to ponder is to keep our own house in order. So far the government machinery is up in arms against business community for one reason or the other. Instead of acting as troubleshooter, the officials are the biggest troublemakers in the eyes of the business community in the country. Many developing countries in the world, especially the regional countries, are racing against time to change the lot of their people. But in Pakistan, the business community still fights for its survival. Unless the political leadership itself comes clean in this country, no foreign investor will be ready to take any risk.