PM Shehbaz invites American banks to invest in Pakistan

Prime Minister Shehbaz Sharif has invited American banks to invest in Pakistan in key sectors of infrastructure, energy, technology and agriculture, reported 24NewsHD TV channel on Friday.

Shehbaz Sharif said this while talking to a delegation of prominent Pakistani American bankers on the sidelines of the 79th UN General Assembly in New York.

The Prime Minister assured the delegation of government's commitment to maintaining a stable macro-economic environment to facilitate foreign investors.

The Prime Minister informed the delegation about the key initiatives taken by the Government to stabilize the economy and attract foreign investment to Pakistan, including broadening the tax base, enhancing the ease of doing business, and ongoing reforms in the state-owned enterprises. These steps have resulted in improved economic indicators and up-gradation of Pakistan's credit rating by international rating agencies, including, Fitch and Moodys. He also briefed the delegation on the establishment of a Sustainable Finance Framework, which will allow the Government to carry out a green and sustainability bond issuance in the international capital markets.

Thanking the Prime Minister for the opportunity to interact with him, the delegation lauded the government's policies that have been instrumental in achieving the macroeconomic stability in Pakistan. The delegation also expressed a deep interest in cooperating with the government for the development of manufacturing sector, especially Small and Medium Enterprises to help bolster the exports.

The delegation comprised high-ranking representatives from prestigious banks including JP Morgan, Natixis Corps & Investments, Sumitomo Mitsui Banking Corp, Goldman Sachs, Citizens Bank, Lazard, and Audax Group.