KARACHI: Leaders of United Business Group Pakistan (UBGP) Chief Petron SM Munir and President Zubair Tufail called upon government and opposition to shun their differences and immediately sit together to devise strategies to meet challenges of poor economy and looming poverty and inflation before it is too late.

Entire nation is passing through worst situation which has been further aggravated by devastating flood while all political parties seem to be non-serious in resolving present critical economic situation, they added.

They lamented Pakistan has failed to attract a significant amount of FDI for more than a decade and recent political turmoil has further damaged country's image abroad.  Significant fall in FDI reflecting poor performance of economy on external front as well.

They said data released by State Bank of Pakistan regarding significant decline in outflow of profits and dividends of foreign investment is because of lackluster economic activities in country.  Latest data of SBP reveals that repatriation of profits and dividends nosedived to $ 28.2 million in July- August against $ 396.4 million during same period of last year.

Published in The Daily National Courier, October, 08 2022

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