Private capital expenditure has been anaemic for a few years now, a state of affairs that has only been exacerbated by the pandemic and the war in Ukraine. Business hates ambiguity and in the last three years, ambiguity alone has ruled our personal and professional lives. As we seek leave behind the pandemic impact and head into another Budget season, it’s time to review private sector investment levels in the country and the effect of the Production-linked Incentive scheme in bringing in investments.

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