PM Shehbaz urges US banks to invest in key sectors

PM invites investment in infrastructure, energy, technology, agriculture, assuring stable macro-economic environment.

Prime Minister Shehbaz Sharif on Friday invited American banks to invest in Pakistan’s key sectors of infrastructure, energy, technology, and agriculture and assured them of the government’s commitment to maintaining a stable macro-economic environment to facilitate foreign investors.

The prime minister said this while talking to a delegation of prominent Pakistani American bankers on the sidelines of the 79th UN General Assembly.

The delegation comprised high-ranking representatives from prestigious banks including JP Morgan, Natixis Corps & Investments, Sumitomo Mitsui Banking Corp, Goldman Sachs, Citizens Bank, Lazard, Audax Group.

He informed the delegation about the key initiatives taken by the government to stabilize the economy and attract foreign investment to Pakistan, including broadening the tax base, enhancing the ease of doing business, and ongoing reforms in the state-owned enterprises.

These steps have resulted in improved economic indicators and upgradation of Pakistan’s credit rating by international rating agencies, including Fitch and Moody’s.

He also briefed the delegation on the establishment of a Sustainable Finance Framework, which will allow the Government to issue green/sustainability bonds in international capital markets.

Thanking the prime minister for the opportunity to interact with him, the delegation lauded the government’s policies that have been instrumental in achieving the macroeconomic stability in Pakistan.

The delegation also expressed a deep interest in cooperating with the government to develop the manufacturing sector, especially SMEs, and to help bolster exports.

Prime Minister Shehbaz Sharif has underscored the importance of enhancing trade and investment relations between Pakistan and the United States.

He made these remarks during a meeting with a delegation from the US-Pakistan Business Council at the 79th Session of the United Nations General Assembly in New York.

The delegation included the council's president, senior officials, and corporate leaders from prominent US companies.The Prime Minister stated that attracting US foreign investment across all sectors of Pakistan's economy is a top priority for his government.

He emphasized the administration's commitment to improving the ease of doing business in Pakistan and highlighted the importance of input from the business community.

The Prime Minister introduced the Special Investment Facilitation Council (SIFC) to the attendees. The SIFC aims to enhance investor confidence and accelerate project implementation through tailored solutions and demand-oriented support.

He emphasized that the SIFC is a high-level, single-window agency designed to assist foreign investors in planning and executing their projects in four critical sectors: agriculture, IT, energy, and mining.

Shehbaz Sharif highlighted several areas within Pakistan's economy—particularly agriculture, the technology sector (including fintech), pharmaceuticals, oil and gas, and mining—where US companies could leverage government policies to undertake mutually beneficial projects.

In her remarks, Esperanza Jelalian, President of the US-Pakistan Business Council, noted that Pakistan is a favoured destination for US investments and holds considerable promise.

She announced that a delegation from the Council is being organized this year to explore further investment opportunities in Pakistan.

The session concluded with an interactive discussion in which the prime minister addressed various inquiries from representatives of US enterprises.