NEW YORK: Prime Minister Shehbaz Sharif on Friday invited American banks to invest in Pakistan’s key areas of energy, infrastructure, technology, and agriculture, while assuring the government’s commitment to maintain a stable macro-economic environment to facilitate foreign investors.
The prime minister made the remarks during a meeting with a delegation of prominent Pakistani American bankers on the sidelines of the 79th UN General Assembly.
The delegation comprised high-ranking representatives from banks including JP Morgan, Sumitomo Mitsui Banking Corp, Natixis Corps & Investments, Citizens Bank, Goldman Sachs, Lazard, and Audax Group.
The Prime Minister briefed the delegation about the key initiatives taken by the government of Pakistan to stabilize the economy and attract foreign investment to the country, including broadening the tax base, ongoing reforms in the state-owned companies and enhancing the ease of doing business.
These steps have resulted in improved economic indicators and the upgradation of Pakistan’s credit rating by global rating agencies, including Fitch and Moody’s. He also briefed the delegation about the establishment of a Sustainable Finance Framework, which will allow the government to hold a green/sustainability bond issuance in the international capital markets.
The delegation praised the government’s policies that have been instrumental in achieving macroeconomic stability in Pakistan. The delegation also showed a deep interest in cooperating with the government for the development of the manufacturing sector, especially SMEs to help bolster the exports.
