Govt focusing to provide business friendly environment for investors: Miftah

Govt focusing to provide business friendly environment for investors: Miftah

F.P. Report

WASHINGTON: Today, Minister for Finance and Revenue, Mr. Miftah Ismail, while speaking with the delegation of the U.S. Pakistan Business Council (USPBC) at the Embassy of Pakistan in Washington DC, said that the U.S. corporate sector had a very long and productive relationship with Pakistan.

The Finance Minister said attracting the U.S. foreign investments in all sectors of Pakistan’s economy was the government’s top priority. The government was focused on creating a business friendly environment and would welcome all the suggestions.

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 U.S. companies could enhance their investments in Pakistan.

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

Ms. Esperanza Jelalian, President 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 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.

Ambassador Masood Khan welcomed the participants at the Embassy.

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

Other participants from 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.

Meanwhile, Speaking at an event hosted by renowned US think tank Atlantic Council in Washington DC, Finance Minister Dr. Miftah Ismail highlighted the economic agenda and priorities of the newly formed government in Pakistan. He said the government’s aim is to bring about economic and fiscal stability leading to economic recovery and growth. While achieving this objective, the government will ensure that this growth is all inclusive by taking care of the poor segments of the society.

The Finance Minister reiterated the government’s commitment to attract US investment in all sectors of Pakistan’s economy by creating business friendly environment. He added that the government also recognizes the potential of Fintech and digital economy, and the sector will be facilitated further.

Finance Minister said that the government will take stepwise measures to ensure robust increase in exports of Pakistan to resolve balance of payment and current account deficit issues.

Mr. Frederik Kempe, President of Atlantic Council in his introductory remarks said that Pakistan and the US had a longstanding partnership based on shared values of democratic governance, regional security and economic growth. The Atlantic Council is particularly working to promote economic cooperation between the two countries. He appreciated the role of Pakistani American diaspora in this regard.

The Finance Minister also answered questions from the participants that included US government officials, economists, think tank experts and prominent Pakistani American entrepreneurs.

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