No chance of foreign investment amid political turmoil, says Sheikh Rashid

Rawalpindi: Pakistan Awami Muslim League (AML) Chief Sheikh Rashid expressed concerns on Wednesday about the lack of local investment in Pakistan, questioning why foreign investors would be attracted to the country in such circumstances.

 In a series of tweets, the former cabinet member emphasized the importance of political stability for any investment to take place and claimed that Finance Minister Ishaq Dar had resorted to seeking assistance from foreign diplomats.

Sheikh Rashid also commented on the difficulties faced by Nawaz Sharif, the PML-N supremo, in returning to Pakistan, suggesting that his return was unlikely due to the challenges associated with his travel abroad.

پاکستانی سرمایہ کاری کےلیےتیارنہیں توغیرملکی خاک آئیں گےسیاسی استحکام کےبغیرکوئی سرمایہ کاری نہیں آسکتی وزیرخزانہ سفارت کاروں کی منت سماجت پرآگئےہیں وزیراعظم کا80ارب روپےکاصوابدیدی فنڈاورچیرمین سینٹ کی مراعات میں اضافہ شرم ناک ہےعوام کی سیاست اوربےساکھیوں کی سیاست میں فرق ہوتا ہے

— Sheikh Rashid Ahmed (@ShkhRasheed) June 21, 2023

Regarding the economic revival plan, Sheikh Rashid highlighted that neither economic issues had been resolved nor had political stability been achieved. He noted the lack of attention from the IMF and the absence of assistance from friendly countries. Sheikh Rashid urged the government to repatriate assets held in London and Dubai back to the country as a priority.

Furthermore, Sheikh Rashid predicted the looming threat of default, as the IMF deal was set to expire by the end of June, with no expected disbursements until December. He also raised concerns about the potential issues surrounding LNG.

Sheikh Rashid expressed skepticism about the upcoming elections, suggesting that the PML-N and the PPP were engaging in a friendly match and warning of unprecedented rigging. He quipped that the PPP was taking full advantage of the situation while the PML-N was likely to face defeat.