Investors from the United Kingdom’s capital and financial market recently met with Pakistan’s Caretaker Prime Minister Anwaar-ul-Haq Kakar in London to discuss potential investment opportunities in the country. The meeting included leaders from prominent investment firms such as Fidelity International Limited (FIL), Wellington Management, Ashmore, Jefferies International, and JP Morgan, among others.
During the meeting, Prime Minister Kakar provided the investors with an overview of Pakistan’s current economic landscape and highlighted the government’s efforts to improve the external account. He mentioned that recent administrative actions have strengthened the Pakistani rupee against the US dollar, which has created optimism for stability.
The prime minister also shared positive indicators, including inflows from international financial institutions such as the World Bank and the Asian Development Bank, as well as support from friendly nations. These factors have contributed to reduced inflation, stabilized reserves, and a revival of industrial growth in Pakistan.
Furthermore, Prime Minister Kakar discussed the potential for foreign direct investment in key sectors of the Pakistani economy and the positive impact of the Stand-By Arrangement (SBA) with the International Monetary Fund (IMF). He emphasized that the SBA has exceeded expectations and played a crucial role in stabilizing the country’s economy and currency.
The prime minister also highlighted other economic improvements, such as the sustained decline in inflation, anticipated growth in agriculture and industry, and improved trade after the removal of import restrictions. He mentioned fiscal measures for monetary support and medium-term inflation targets as additional steps taken to boost the economy.
In his discussions with the British investors, Prime Minister Kakar emphasized Pakistan’s commitment to the IMF program and the ongoing reform efforts. He assured the investors that the country is dedicated to implementing the reforms agreed upon with the IMF.
To further demonstrate Pakistan’s pro-investment stance, the prime minister highlighted the Special Investment Facilitation Council (SIFC). This initiative, led by Prime Minister Kakar himself, aims to simplify the investment process, attract investments in key sectors, and foster long-term growth by creating a more business-friendly environment.
The British investors expressed their interest in understanding the continuity of the IMF program in Pakistan and the country’s reform efforts in the short to medium term. Prime Minister Kakar reassured them that Pakistan remains committed to the IMF program and is actively working on implementing the necessary reforms.
Overall, the meeting between the UK investors and Prime Minister Kakar provided an opportunity to explore potential investment opportunities in Pakistan. The prime minister highlighted the positive developments in the Pakistani economy and the government’s commitment to further improving the business and investment climate in the country.
More detail via Associated Press Of Pakistan here… ( Image via Associated Press Of Pakistan )