Miftah Ismail says attracting US investments is govt’s top priority

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Miftah Ismail

Washington: Minister for Finance and Revenue Miftah Ismail, while speaking with the delegation of the United States Pakistan Business Council (USPBC) at the Embassy of Pakistan in Washington DC, reiterated the current government’s resolve to attract US investments in all sectors of Pakistan’s economy.

“The government is focused on creating a business-friendly environment and will welcome all the suggestions,” the newly-appointed finance minister said, who is in the US to negotiate a deal with the IMF for the resumption of the IMF’s $6 billion Extended Fund Facility (EFF) for Pakistan.

Read: Upcoming budget will be in deficit: Miftah

Referring to the longstanding relations between Pakistan and the United States’ corporate sector, Miftah Ismail said that the US corporate sector had a very long and productive relationship with Pakistan.

The finance minister identified various areas in Pakistan’s economy, particularly agriculture, tech sector, including fintech, pharmaceutical and health sectors, and digital banking, where the US companies could enhance their investments in Pakistan.

The meeting was attended by senior representatives of the top 12 U.S. 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.

Ms Esperanza Jelalian, President of the USPBC, 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 investment opportunities.

Ms Jelalian assured that USPBC would 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 their plans to enhance their presence in the Pakistani market.
Ambassador Masood Khan welcomed the participants at the Embassy.

The introductory remarks were followed by an interactive session during which the Finance Minister answered the USPBC delegation’s various queries.

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.

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