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LAHORE, Jul 07 (APP):SAARC Chamber of Commerce and Industry former President Iftikhar Ali Malik said on Sunday that results-oriented policies promoting good governance are crucial for building investor confidence and attracting foreign investment in diversified sectors of Pakistan.
Talking to a delegation of traders led by Muslim Khan Buneri, he said, “Good governance, characterized by transparency, accountability, and efficiency, creates an environment where investors feel secure and confident in the stability and predictability of their investments.”
He said in Pakistan, result-oriented policies could play a transformative role in achieving and maintaining economic stability, said a press release issued here. Transparency reduces the risk of corruption and builds trust between the government and the business community, he said and added that accountability mechanisms must be strengthened which include establishing independent regulatory bodies to oversee financial markets, ensuring that laws and regulations were enforced fairly and consistently.
Iftikhar Ali Malik said that streamlining procedures for starting and operating businesses could reduce the time and cost associated with investment whereas simplifying tax codes, reducing red tape, and enhancing the ease of doing business could make Pakistan a more attractive destination for both domestic and foreign investors.
He said that political stability and consistency in economic policies were highly important, adding that frequent changes in policy direction could create uncertainty, deterring long-term investment. A stable political environment, with a clear and consistent economic strategy, reassures investors of the government’s commitment to economic growth and stability, he maintained.
He said that collaborative efforts could lead to the development and implementation of policies that foster a conducive investment climate.