Despite being a nation of 250 million people, Pakistan attracted only USD 1.9 billion in foreign direct investment (FDI) in 2024. This disappointing figure highlights a broader issue: the country’s negative reputation in the international investment community. Factors contributing to this reputation include political instability, inconsistent policies, incompetence, and, notably, disruptive judicial interventions.
The lawyers’ movement significantly empowered Pakistan’s judiciary, but this power has not always been used to the benefit of the average citizen. Instead, some Chief Justices, particularly Justice Saqib Nisar and Justice Iftikhar Chaudhry, have employed their authority in ways that have deterred investors and adversely affected investment.
Judicial interference in major projects such as Pakistan Steel, the Karkey Rental Power Plant, Reko Diq, and LNG has left deep scars on the investment landscape. The country, with its limited financial resources, has been forced to spend millions defending Supreme Court decisions in international courts, often without success.
Even internationally renowned figures like fashion designer Mehmood Bhatti have faced the consequences of such judicial activism. These interventions have severely damaged Pakistan’s reputation among global investors, resulting in a significant deterrent to much-needed foreign investment.
To address this issue, it is imperative that the State of Pakistan takes decisive action. Holding both former Chief Justices accountable for their role in these detrimental interventions is essential for restoring investor confidence and unlocking Pakistan’s full potential.
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