PM Kakar urges investors to benefit from ‘improved’ economy
ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar has urged British businesspersons to take benefit of the improved economy and the government’s investment-friendly policies and invest in Pakistan.
Mr Kakar, who is on a trip to London, met prominent British-Pakistani investors on Monday and invited them to invest in the Special Economic Zones, according to a press release issued by the PM office.
He highlighted positive economic indicators resulting from “reforms undertaken by the caretaker government”, including a strengthening rupee, reduced inflation and ease in import restrictions.
He spoke about the investment-friendly policies and Special Investment Facilitation Council , which, he said, will streamline investment in key sectors through a single-window platform.
Meets UK-based businesspersons; asks them to invest in Pakistan
The council has been formed to enhance ease of doing business, remove bureaucratic hurdles and create a long-term investment roadmap, the statement added, while quoting Mr Kakar.
He also expressed his government’s resolve to privatise loss-making state-owned enterprises.
The British-Pakistani business leaders “expressed strong interest in expanding their business operations in Pakistan”.
In a separate meeting with British businessman Abdullah Kamani, the PM assured him of facilitating investment and establishing manufacturing facilities in Pakistan.
Mr Kamani, the co-founder and executive chairman of Boohoo Group, was invited to send a delegation to Pakistan for enhanced collaboration.
The fashion magnate expressed keen interest in establishing long-term buying linkages with Pakistan and creating a comprehensive supply chain.
They also hoped for improved Pakistan-UK air connectivity to facilitate imports from Pakistan.
A delegation of notable UK investment firms’ representatives also met the prime minister on Monday.
The PM apprised the delegation that recent government actions have resulted in external account improvement.
He said positive indicators, including inflows from the World Bank, Asian Development Bank and friendly nations, contributed to reduced inflation, stabilised reserves and revival of industrial growth.
The prime minister also spoke about the potential for foreign direct investment in Pakistan’s key sectors.
Published in Dawn, September 26th, 2023
