PM Shehbaz Sharif Pushes for US Investment in Pakistan at UN Assembly

NEW YORK: During his visit to New York for the 79th UN General Assembly, Prime Minister Shehbaz Sharif addressed the delegation of the US-Pakistan Business Council (USPBC), which included the President and other senior officials along with corporate leaders from prominent US companies.

Highlighting his commitment to enhancing trade and investment relations between Pakistan and the US, the Prime Minister stated that attracting US foreign investments across all sectors of Pakistan’s economy is a top priority for his government. He emphasized the importance of improving the ease of doing business in Pakistan and welcomed suggestions from the corporate sector.

In introducing the Special Investment Facilitation Council (SIFC), the Prime Minister noted that it serves as a high-level, one-window agency designed to assist foreign investors in planning and executing their projects in four crucial sectors: agriculture, IT, energy, and mining. He mentioned that the SIFC aims to strengthen investor confidence and accelerate project implementation through tailored solutions and demand-driven facilitation.

The Prime Minister outlined several sectors in Pakistan’s economy, including agriculture, technology (especially fintech), pharmaceuticals, oil and gas, and mining, where US companies could take advantage of government policies and pursue mutually beneficial projects.

The meeting featured senior representatives from US investors in Pakistan, including John Murphy, Senior Vice President and Head of International US Chamber of Commerce; Esperanza Jelalian, President of the US-Pakistan Business Council; Steven Kobos, President and CEO of Excelerate Energy; and representatives from PepsiCo, TRG Pakistan, Mastercard, Procter & Gamble, Illumina, and Abbott.

In her remarks, Ms. Esperanza Jelalian, President of USPBC, expressed that Pakistan is a favored destination for US investments, holding significant potential. She also mentioned that a USPBC delegation is being planned for this year to explore further investment opportunities in Pakistan.

The meeting concluded with an interactive discussion where the Prime Minister addressed various queries from representatives of US enterprises.