PM Shehbaz invites American banks to invest in Pakistan

NEW YORK: Prime Minister Shehbaz Sharif has extended an invitation to American banks to invest in Pakistan across vital sectors such as infrastructure, energy, technology, and agriculture.

He made these remarks while engaging with a group of prominent Pakistani-American bankers during the 79th session of the UN General Assembly in New York.

The Prime Minister reassured the delegation of the government’s dedication to ensuring a stable macroeconomic environment to attract foreign investors.

He updated the delegation on key initiatives undertaken by the government to stabilize the economy and draw foreign investment to Pakistan, which include expanding the tax base, improving the ease of doing business, and ongoing reforms in state-owned enterprises.

These measures have led to enhanced economic indicators and an upgrade in Pakistan’s credit rating by international agencies like Fitch and Moody’s. He also informed the delegation about the creation of a Sustainable Finance Framework, which will enable the government to issue green and sustainability bonds in the international capital markets.

Expressing gratitude for the opportunity to meet with the Prime Minister, the delegation praised the government’s policies that have significantly contributed to achieving macroeconomic stability in Pakistan. They also showed a strong interest in collaborating with the government to develop the manufacturing sector, particularly Small and Medium Enterprises, to strengthen exports.

The delegation included senior representatives from esteemed banks such as JP Morgan, Natixis Corps & Investments, Sumitomo Mitsui Banking Corp, Goldman Sachs, Citizens Bank, Lazard, and Audax Group.