Mashreq Bank urged to explore new opportunities in Pakistan
Federal Finance and Revenue Minister Senator Muhammad Aurangzeb reaffirmed
the government's commitment to boosting investments in Pakistan by creating a
stable and attractive business environment during a virtual meeting with Ahmed
Abdelaal, President and Group CEO of Mashreq Bank.
The meeting, held on Monday, also featured Minister of State Ali Parvez
Malik and senior officials from the Finance Division and the State Bank of
Pakistan (SBP). They discussed the country’s economic outlook and explored
potential investment avenues.
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Senator Aurangzeb emphasized the untapped potential within Pakistan’s IT and
agriculture sectors, encouraging both local and international investors to
seize opportunities for economic growth. He commended Mashreq Bank’s interest
in Pakistan and expressed the government’s eagerness to strengthen its
relationship with the bank.
The Finance Minister provided an update on recent improvements in Pakistan’s
economic indicators, including currency and financial market stabilization. He
outlined government initiatives aimed at enhancing investor confidence, such as
broadening the tax base, improving the ease of doing business, digitizing the
Federal Board of Revenue (FBR) processes, advancing the privatization agenda,
and reforming State-Owned Enterprises (SOEs).
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In response, Abdelaal praised the government’s efforts to create a more
investor-friendly environment and expressed Mashreq Bank’s interest in
deepening its engagement with Pakistan’s financial sector. He identified key
areas for investment, including infrastructure, energy, technology,
agriculture, and SMEs, and highlighted Pakistan’s strategic importance for
investment.
The discussion also explored potential collaborations between Pakistan and
the United Arab Emirates (UAE) in areas such as remittances, trade, finance,
and Islamic banking.
The meeting underscored the strong partnership between Pakistan and Mashreq
Bank, reflecting a mutual commitment to sustainable economic development and
prudent fiscal management.
Source: Pakistan Today