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This blog is for students, managers and those lay people who are interested to contribute to, comment on or simply share their workplace problems and are keen to learn about issues relating to public finance, corporate finance and macro-economic management affecting their lives.

Wednesday, June 16, 2010

Woo domestic investors first...

The other day, Pakistani PM has invited foreign investors to make investment in Pakistan, saying the country is being made a regional hub for trade and energy deals. Our top political leader are wasting their precious time and efforts in wooing the “foreign” investor to make investments in Pakistan. In their speeches couched in flowery language, of course drafted by babus, these leader make appeals to foreign investors educating them on what an investment heaven this country has become under their dynamic leadership. Instead of foreigners, why don’t these leaders woo Pakistani investors who know fully well, and more than anybody else, what will it mean to invest their money in Pakistan.
Fact of the matter is that nobody has to woo an investor; capital has its way of finding its safe heavens. It will fly from unsafe locations to safe heavens just as the migratory birds change their destinations with the change in weather. Capital and investors have a sort of ESP specially gifted to them.
But the questions are why foreign investors should come to Pakistan when Pakistani capital is itself in search of safe heavens, when the leaders making meaningless appeals put their “hard-earned” money in foreign banks and are ready to risk solidarity and integrity of the country to save those millions stashed abroad, when corruption is the order of the day, when mega public enterprises are sacrificed to benefit cronies, when there is no rule of law. The list is endless. Please stop making fun of yourselves. Lead by personal example. Invest in your money in your country if you have an iota of confidence in your leadership ability or in that of those around you.

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