Pakistan has started regaining its economic strength, says Ambassador Masood Khan

Pakistan’s forthcoming electoral process will usher in an era of political resilience, economic viability

WASHINGTON DC  -  Pakistan’s Ambassador to the Unit­ed States Masood Khan has reaf­firmed resolve to continue work to­wards crafting a bright future and destiny of the people of Pakistan. Addressing the flag-hoisting cere­mony at the Embassy of Pakistan in Washington DC to mark Paki­stan’s 76th Independence Day, he said Pakistan is aware of the exter­nal threats being faced by the coun­try and will eliminate them. 

He said that Pakistan is a dream for hundreds of millions of Muslims of South Asia. He said Founder of Pa­kistan Quaid-e-Azam Muhammad Ali Jinnah, gave the country concrete form and substance. He paid trib­ute to Father of the Nation, his com­rades and followers for making this dream, this miracle a reality. He said Pakistan has an ideology, a vision and a destiny and gives us identity.

The Ambassador said that today is a day to count our blessings, cel­ebrate our successes, reaffirm our aspirations and resolve to scale new heights in our journey. He said there is plenty to be optimistic about and the sky is the limit for what we can.

Masood Khan said it is our shared responsibility to reject merchants of despair and devalue the cur­rency of fake fables. If we have to move forward, there is no room for despondency and dejection, doom and gloom. He said our commit­ment to democracy is strong and unwavering.

About political landscape of Pa­kistan, the ambassador said that Pakistan’s forthcoming electoral processes would usher in an era of political resilience and econom­ic viability.

Masood Khan expressed also gratitude to the US Government, Congress and the American people for their support for stronger bilat­eral relations and for standing by Islamabad during last year’s dev­astating floods. He was particularly grateful to Secretary Blinken for his message of solidarity and friend­ship on our Independence Day.

Talking about Pakistani-Ameri­cans, he said their numbers have grown and they have become more prosperous and politically savvy. He said Pakistan has started re­gaining its economic strength as its GDP should climb up to 3.5 percent this fiscal year. He said Pakistan is expecting heavy inflows of foreign investment.

Masood Khan said Morgan Stan­ley Capital International (MSCI) has announced the inclusion of 15 Pakistani companies in its Fron­tier Market Indexes, which will in­crease the total number of Paki­stani companies in this index to 17. He further said that MSCI is listing 41 companies of Pakistan Stock Ex­change (PSX) in its MSCI Frontier Markets Small Cap Indexes. These decisions should open new doors for investment in Pakistan.

He said the Gulf States, including Saudi Arabia, UAE, Qatar and Bah­rain, are entering into Pakistani markets by investing in mining, re­fineries, ports, airports and agricul­ture. This should expand space for American investments.

Talking about Roshan Digital Ac­count, he said during the last fiscal year, the cumulative foreign curren­cy inflows through Rohan Digital Ac­counts by Pakistani diaspora have surpassed $6.5 billion. We know that Pakistani Americans have a ma­jor share in this upswing.

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