UK investors express keen interest in exploring Pakistan's capital market
LONDON (92 News) - Senior leaders of London’s capital and financial market called on the Caretaker Prime Minister Anwaarul Haq Kakar at the Pakistan House in London on Monday.
The notable investment firms represented at this gathering included Fidelity International Limited (FIL), Wellington Management, Ashmore, Jefferies International, Redwheel Capital, Switex Industrial SA, Oxford Frontier Capital, GuarantCo, JP Morgan, Kalrock Capital, and UBL UK.
Prime Minister 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. He said positive indicators, including inflows from the World Bank, Asian Development Bank, and friendly nations, contributed to reduced inflation, stabilized reserves, and revival of industrial growth.
The prime minister spoke about the potential for foreign direct investment in Pakistan's key sectors and the positive impact of the Stand-By Arrangement (SBA) with the IMF, exceeding expectations and stabilizing the economy and currency.
He also highlighted economic improvements such as reduced inflation with expected sustained decline, and upcoming growth in agriculture and industry. He mentioned improved trade after removal of restrictions on imports and fiscal measures for monetary support and medium-term inflation targets.
The prime minister highlighted Pakistan's pro-investment efforts, introducing the Special Investment Facilitation Council (SIFC). This initiative, led by the prime minister himself, streamlines investment processes, attracts investments in key sectors, and fosters long-term growth by simplifying the business landscape.
The British investors enquired about the continuity of the IMF program in Pakistan and reform efforts from short to medium term. The prime minister assured them that Pakistan had expressed its commitment to the IMF program by undertaking reforms committed with the IMF.
The 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.
Meanwhile, Abdullah Kamani, a leading British businessman and the co-founder and executive Chairman of Boohoo Group, called on Caretaker Prime Minister Anwaarul Haq Kakar at the Pakistan House in London.
Prime Minister Kakar conveyed Pakistan's commitment to facilitating investment and offered support in establishing manufacturing facilities within the country, particularly within Special Economic Zones (SEZs).
He also urged Boohoo Group to consider opening buying houses in Pakistan, emphasizing the advantages of doing so.
