Attracting US investments ‘top priority’ of Pakistani govt: Miftah

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The new Pakistan government’s top priority is to attract United States’ foreign investments in all sectors of the Pakistani economy, Finance Minister Miftah Ismail has said, noting the American corporate sector’s “long and productive relationship” with the country.

Speaking to a delegation of the US-Pakistan Business Council (USPBC) at the Pakistani Embassy in Washington DC.,

he said the government was focused on creating a business-friendly environment and would welcome all the suggestions.

Finance Minister Ismail arrived in this capital city on Thursday evening to attend the spring meetings of the World Bank and International Monetary Fund (IMF).

During his 4-day visit here, he will also discuss the continuation of the stalled IMF programme for Pakistan.

In his remarks, the finance minister identified various areas in Pakistan’s economy, particularly agriculture, the technology sector, including financial technology, pharmaceutical and health sectors, as well as digital banking where the US companies could enhance their investments in Pakistan.

The meeting was attended by senior representatives of the top 12 US investors in Pakistan, including Abbott, PepsiCo, Coca-Cola, Procter & Gamble, the Resource Group, TRG, Visa, Cargill, and North Shore Medical Labs and Excelerate Energy L.P., according to an embassy press release.

Ms. Esperanza Jelalian, USPBC’s president, congratulated the finance minister and the minister of state on assuming office.

She said that a USPBC delegation would be visiting Pakistan soon to explore further opportunities for investment.

Ms. Jelalian assured that USPBC will continue to engage with the government of Pakistan to seek mutually beneficial ways of enhancing cooperation.

In their introductory remarks, the USPBC members briefed the meeting on their businesses in Pakistan and plans to enhance their presence in the Pakistani market.

Pakistan’s Ambassador to the US, Masood Khan, welcomed the participants at the Embassy.

The introductory remarks were followed by an interactive session during which the finance minister answered queries from the USPBC delegation.

Other participants from the Pakistan side, included Ms Aisha Ghaus Pasha, minister for state for finance, Dr Reza Baqir, Governor State Bank of Pakistan, Secretary Finance, Deputy Governor State Bank, Additional Secretary, Finance, and senior Embassy officials.—APP

 

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