LAHORE MIRROR — A delegation of prominent British Pakistani businessmen called on the Caretaker Prime Minister Anwaar-ul-Haq Kakar at the Pakistan House in London today.
The Prime Minister highlighted positive economic indicators resulting from reforms pursued by the interim government, including a strengthening Pak. Rupee, reduced inflation, and expected economic growth. The removal of import restrictions and efforts to restore the business community’s confidence were expected to further boost external accounts, he added.
The Prime Minister spoke about Pakistan’s investment-friendly approach, mentioning incentives and ease-of-business reforms. He introduced the Special Investment Facilitation Council (SIFC), chaired by himself, to streamline investment in key sectors through a single-window platform. This initiative aims to enhance ease of doing business, remove bureaucratic hurdles, and create a long-term investment roadmap.
Moreover, Prime Minister Kakar also shared the Government’s resolve and commitment to privatize loss-making state-owned enterprises. He therefore urged overseas Pakistanis to take advantage of the opportunities for investment in Pakistan.
He also invited diaspora businessmen to invest, especially in Special Economic Zones, to contribute to Pakistan’s economic recovery.
The British Pakistani business leaders expressed their appreciation for the Prime Minister’s outreach to the diaspora and conveyed their strong interest in expanding their business operations in Pakistan while actively seeking to increase their investments in the country.
They hoped that reforms undertaken by the government would continue in the long run and assured the Prime Minister of their support for putting Pakistan back on the growth trajectory.
Senior leaders of London’s capital & financial market call on Kakar
Senior leaders of London’s capital and financial market called on the Caretaker Prime Minister Anwaar-ul-Haq Kakar at the Pakistan House in London today. The notable investment firms represented at this gathering included Fidelity International Limited (FIL), Wellington Management, Ashmore, Jefferies International, Redwheel Capital, Switex Industrial SA, Oxford Frontier Capital, GuarantCo, JP Morgan, Kalrock Capital, and UBL UK.
Prime Minister Kakar informed the delegation about Pakistan’s current economic landscape, highlighting government measures for external account improvement. He said that recent administrative actions strengthened the Pakistani rupee against the US dollar, fostering optimism for stability. He said positive indicators, including inflows from the World Bank, Asian Development Bank, and friendly nations, contributed to reduced inflation, stabilized reserves, and revival of industrial growth.
The Prime Minister spoke about the potential for foreign direct investment in Pakistan’s key sectors and the positive impact of the Stand-By Arrangement (SBA) with the IMF, exceeding expectations and stabilizing the economy and currency.
Prime Minister Kakar also highlighted economic improvements such as reduced inflation with expected sustained decline, and upcoming growth in agriculture and industry. He mentioned improved trade after removal of restrictions on imports and fiscal measures for monetary support and medium-term inflation targets.
Furthermore, the Prime Minister highlighted Pakistan’s pro-investment efforts, introducing the Special Investment Facilitation Council (SIFC). This initiative, led by the Prime Minister himself, streamlines investment processes, attracts investments in key sectors, and fosters long-term growth by simplifying the business landscape.
The British investors enquired about the continuity of the IMF program in Pakistan and reform efforts from short to medium term. The Prime Minister assured them that Pakistan had expressed its commitment to the IMF program by undertaking reforms committed with the IMF. The investors expressed their keen interest in exploring promising investment opportunities in the financial and capital market of Pakistan, reflecting a growing mutual interest in expanding economic collaboration.
