Caretaker Prime Minister Anwaarul Haq Kakar on Monday highlighted the potential for foreign direct investment in Pakistan's key sectors and the positive impact of the Stand-by Arrangement (SBA) with the International Monetary Fund (IMF), stating that these were helping stabilise the economy and currency.
The PM was talking to a delegation of senior leaders of London’s Capital and Financial Market who met him at the Pakistan House in London.
Kakar informed the delegation about Pakistan's current economic landscape, highlighting government measures for external account improvement. He said that recent administrative actions strengthened the Pakistani rupee against the US dollar, fostering optimism for stability.
The prime minister said positive indicators, including inflows from the World Bank, Asian Development Bank, and friendly nations, contributed to reduced inflation, revival of industrial growth and stabilised reserves.
Kakar also highlighted economic improvements, such as reduced inflation, with expected sustained decline, and upcoming growth in the agriculture and industrial sectors. He also mentioned improved trade after the removal of restrictions on imports and fiscal measures for monetary support and medium-term inflation targets.
The PM also highlighted Pakistan's pro-investment efforts, introducing the Special Investment Facilitation Council (SIFC). “This initiative streamlines investment processes, attracts investments in key sectors, and fosters long-term growth by simplifying the business landscape,” he added.
The delegation consisted of representatives from notable investment firms, including the Fidelity International Limited (FIL), Wellington Management, Ashmore, Jefferies International, Redwheel Capital, Switex Industrial SA, Oxford Frontier Capital, Guarant Co, JP Morgan, Kalrock Capital and UBL UK.
The British investors expressed their keen interest in exploring promising investment opportunities in the financial and capital market of Pakistan, reflecting a growing mutual interest in expanding economic collaboration. They also enquired about the continuity of the IMF programme in Pakistan and reform efforts from short to medium term.
Prime Minister Kakar assured them that Pakistan had expressed its commitment to the IMF programme by undertaking reforms committed with the IMF.