UK investors show keen interest in Pakistan

Interim PM Kakar apprises them of FDI potential in key sectors

LONDON:

The investors of the United Kingdom’s capital and financial market in a meeting with Caretaker Prime Minister Anwaarul Haq Kakar on Monday expressed their keen interest in exploring investment opportunities in Pakistan.

The leaders of the notable investment firms who met the prime minister in London 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 the 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, stabilised reserves, and revival of industrial growth.

The prime minister spoke about the foreign direct investment potential in Pakistan’s key sectors and the positive impact of the Stand-By Arrangement (SBA) with the International Monetary Fund (IMF), exceeding expectations and stabilising the economy and currency.

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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.

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 programme in Pakistan and reform efforts from short- to medium-term.

The prime minister assured them that Pakistan had expressed its commitment to the IMF programme by undertaking reforms committed with the IMF.