US firm discusses investment avenues

Federal Minister for Finance and Revenue Muhammad Aurangzeb on Monday met a delegation of TPG Capital, led by Partner Jide Olanrewaju, to explore investment opportunities, strengthen ties and boost Pakistan's economic growth.

The minister highlighted the positive trajectory of Pakistan's economic indicators and pointed to a notable decline in the current account deficit, which reflected improved economic stability, said a press release.

He emphasised the government's commitment to boosting exports through diversification strategies, adding that recent efforts resulted in a marked increase in export performance.

Furthermore, he mentioned that inflation had dropped to single digit, a testament to effective economic management.

In line with the vision of sustainable economic growth, the minister discussed the ongoing structural reforms aimed at improving market conditions and creating a conducive environment for both domestic and foreign investment.

These reforms are pivotal for attracting capital and fostering investor confidence in Pakistan's economic landscape. The finance minister informed the delegation about the recently agreed 10-year partnership framework with the World Bank. This strategic partnership is aimed at facilitating various projects that are expected to significantly contribute to economic development.

Aurangzeb reiterated the government's openness to engaging with international investors and emphasised the vital role that partnerships with organisations like TPG Capital – a US private equity firm – would play in driving economic progress. Speaking at the meeting, Jide Olanrewaju expressed keen interest in enhancing investment in climate transition infrastructure. He underscored the importance of attracting more capital to support sustainable development initiatives in Pakistan.