Pakistan’s rich love London, New York, and Dubai more than Karachi -- when it comes to investing and partying with their money, that is. That’s according to the former director of United Nations Development Programme (UNDP) for Pakistan, Marc-André Franche. “You cannot have an elite that takes advantage of very cheap and uneducated labour when it comes to making money, and when it is time to party it is found in London, and when it’s time to buy things it is in Dubai, and when it’s time to buy property it invests in Dubai or Europe or New York. The elite needs to decide do they want a country or not,” Franche stated in an interview last month with the Business Recorder. Franche’s comments come as Pakistan’s equity markets have been rallying, beating neighboring Indian and Chinese equity markets, as discussed in a previous piece here.
from Forbes - Leadership http://ift.tt/2cNajTs
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