ISLAMABAD: The current political turmoil has severely hampered the - TopicsExpress

ISLAMABAD: The current political turmoil has severely hampered the flow of foreign investment as foreign investors have adopted a wait and see policy. The twin sit-ins, now entering the 46th day, have also proven to be detrimental to the economy as political instability has resulted in the depreciation of Rupee, pushing the import bill up by Rs8 billion, which in turn has added Rs210 billion to the public debt. Political uncertainty, devastating floods, inflation and the balance of payments situation have emerged as serious challenges for the government, Finance Minister Ishaq Dar told the Senate committee here on Friday. “Foreign investment has tumbled by 20% during the first two months of the current fiscal year and the dwindling investment will put more pressure on external accounts, especially in the wake of widening trade gap due to falling exports,” said the minister.

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