Poland Urges Pakistan to Safeguard Foreign Investment

Poland’s Ambassador to Pakistan, Maciej Pisarkski, has urged Pakistan to address pressing issues faced by foreign investors operating in the country. The ambassador highlighted concerns regarding payment delays and difficulties in maintaining machinery, emphasising the need for immediate action to alleviate these challenges and create a favourable environment for foreign investment.

Foreign investors in Pakistan are grappling with delays in receiving payments for services rendered, along with obstacles in procuring spare parts for their machinery. Ambassador Pisarkski pointed out that these issues have significantly impacted the operations of foreign companies, including PGNiG, a leading Polish company engaged in gas exploration in Pakistan. Despite facing numerous challenges, PGNiG remains committed to reinvesting in Pakistan, but the lack of settlement of previous dues has hindered its efforts.

Additionally, the ambassador underscored the importance of addressing operational challenges faced by foreign investors, particularly amid Pakistan’s economic constraints and thin foreign currency reserves. Despite recent injections of funds from the International Monetary Fund (IMF), Pakistan’s gross foreign exchange reserves remain relatively low, posing challenges for foreign investors and lenders alike.

Ambassador Pisarkski revealed that the Polish embassy has consistently raised these issues with successive governments in Pakistan, as well as with the Special Investment Facilitation Council (SIFC). While acknowledging Pakistan’s potential as an investment destination, he emphasised the need to improve the country’s image abroad and address existing challenges to attract foreign investment effectively.

Despite the challenges, the Polish embassy is actively facilitating business ties between Poland and Pakistan. A visit by nine Polish firms working across various sectors is being arranged, signalling Poland’s commitment to expanding its presence and business interests in Pakistan.

Bilateral trade between Poland and Pakistan has been gradually increasing, with efforts aimed at bridging the trade deficit and promoting exports from Poland to Pakistan. Ambassador Pisarkski reiterated the embassy’s commitment to fostering economic and business ties between the two countries, emphasising the importance of supporting and retaining foreign companies invested in Pakistan’s economy.

In line with these efforts, the embassy is organising a business mission through the GreenEvo programme, led by the Polish Ministry of Climate and Environment, aimed at further enhancing bilateral economic cooperation and promoting sustainable development initiatives.