Investment is not secured through government MoUs or by mantras. It is the private sector that creates opportunities and negotiates with foreign investors. Investment depends on political and economic stability, policy consistency, investment security, and global competitiveness of businesses. Despite the SIFC’s efforts, investment fell to a record low of 13pc of GDP in FY24, below the long-term average of around 15pc. Pakistan attracted just $1.9 billion in FDI, a mere $275 million increase from FY23, and below the $1.936bn in FY22.