Prime Minister Shehbaz encourages US Banks to invest in key sectors
Prime Minister Shehbaz Sharif has invited American banks to invest in
Pakistan’s vital sectors, including infrastructure, energy, technology, and
agriculture, assuring them of the government’s commitment to a stable
macroeconomic environment that supports foreign investment.
During a meeting with a delegation of prominent Pakistani American bankers
at the 79th UN General Assembly, the Prime Minister outlined key government
initiatives aimed at stabilizing the economy and attracting foreign capital.
The delegation included representatives from notable banks such as JP Morgan,
Goldman Sachs, and Lazard.
Sharif highlighted efforts to broaden the tax base, enhance the ease of
doing business, and implement reforms in state-owned enterprises, which have
contributed to improved economic indicators and upgrades in Pakistan’s credit
rating from agencies like Fitch and Moody’s.
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banks asked to enhance lending to SMEs
He also introduced a Sustainable Finance Framework that will enable the
government to issue green and sustainability bonds in international capital
markets.
The bankers expressed gratitude for the opportunity to engage with the Prime
Minister and praised the government’s policies that have fostered macroeconomic
stability. They showed strong interest in collaborating to develop the
manufacturing sector, particularly focusing on small and medium enterprises
(SMEs) and boosting exports.
In a separate meeting with the US-Pakistan Business Council at the UN
General Assembly, PM Sharif emphasized the importance of enhancing trade and
investment relations between Pakistan and the United States. He reaffirmed his
government’s priority to attract US foreign investment across various sectors.
The Prime Minister introduced the Special Investment Facilitation Council
(SIFC), a high-level agency designed to boost investor confidence and expedite
project implementation. The SIFC aims to provide tailored support in critical
sectors such as agriculture, IT, energy, and mining.
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directed to collaborate with banks and exporters on trade mechanism with Russia
He pointed out several areas where US companies could benefit from
government policies, including agriculture, technology (notably fintech),
pharmaceuticals, oil and gas, and mining.
Esperanza Jelalian, President of the US-Pakistan Business Council, remarked
on Pakistan’s potential as a favored destination for US investments. She
announced plans for a delegation from the Council to visit Pakistan later this
year to explore further investment opportunities.
The session concluded with an engaging discussion, where the Prime Minister
addressed various questions from representatives of US enterprises.
Source: Express Tribune