FOREIGN investment is amongst the various remedies mentioned for addressing Pakistan’s chronic economic problems. However, perhaps the biggest obstacle standing in the way of foreign friends putting their money in Pakistan is the precarious security situation that plagues the land. The issue was recently highlighted during Prime Minister Shehbaz Sharif’s visit to China, as even our long-time ally was reportedly concerned about lack of security for its nationals in Pakistan. The Foreign Office has said this country accords the highest priority to providing security to Chinese personnel and projects. During the PM’s Beijing visit, President Xi Jinping reportedly expressed “great concern” over the safety of Chinese nationals in Pakistan, and hoped for a “reliable and safe environment” for his compatriots in this country. A number of deadly terrorist attacks, including one targeting Chinese tutors in Karachi University in April, and last year’s attack on Chinese workers in Dasu, have fuelled a trust deficit, affecting CPEC and lowering the pace of economic cooperation.

Whether it is Chinese investments or any other overseas projects, the state must provide foolproof security to foreign investors if it expects them to put their money in Pakistan. No foreign government will be willing to allow investments in Pakistan if their citizens are not safe in this country. Along with the elimination of terrorist threats by the state, it is also imperative that foreign investments benefit local communities. If locals fail to get jobs or training, these foreign ventures will be viewed negatively; already this discontentment is being exploited by violent separatists as well as hostile states. Foreign investment is a much better and more constructive option than asking overseas partners for aid and loans. There is no shortage of land and manpower in Pakistan, and if the right security environment is provided, and economic benefits trickle down to local communities, such ventures can play a major role in stabilising Pakistan’s teetering economy. This is something the government, the opposition and the establishment need to have a consensus on.

Published in Dawn, November 9th, 2022