Islamabad, Aug 4: J.P. Morgan Pakistan CEO Amin Mohammad Khowaja led a delegation of foreign investors in a meeting with Federal Minister for Finance and Revenue Muhammad Aurangzeb. According to a statement from the Finance Division, the focus of the high-level talks was the institutional investors’ interests in learning more about fixed-income investment opportunities in Pakistan’s economy.
The statement said, “The talks covered a range of potential investment areas, including information technology, infrastructure development, renewable energy, and the financial sector.”As a result of “recognizing Pakistan as a market with immense potential and a strategic location as a gateway to regional markets where foreign investors are eager to explore opportunities for investment in various sectors,” the Finance Division reported that the investors showed a significant interest in these areas.
The team was greeted by the Finance Minister with an assurance that their investment endeavors would receive full support from the government, and he expressed gratitude for their desire to contribute to the economic prosperity of Pakistan. In the course of the discussion, Aurangzeb brought up several economic developments, including as the 14% rise in exports, the drop in CPI inflation to 9.6% in August 2024, and the general reduction in the current account deficit.
The Finance Minister also mentioned Pakistan’s sovereign credit ratings improving, indicating a steady and optimistic economic future. Aurangzeb informed the group that “strong fiscal discipline, inflation management, and a favorable balance of payments are the cornerstones of the nation’s economic growth. “He also spoke into detail about the government’s goal for structural changes, which includes reforms in the energy sector, rightsizing the public sector, pushing for privatization, and expanding the tax base in order to promote macroeconomic stability.
Aurangzeb reiterated during the meeting the government’s commitment to advancing the agenda of comprehensive reforms aimed at improving the effectiveness and governance of public institutions. He stated, “These reforms are intended to guarantee the long-term stability of the economy and to create a more favorable environment for foreign investment.” The investor delegation, meanwhile, praised Pakistan’s government for its efforts to foster a business-friendly climate and voiced optimism about the likelihood of further investment flows into the country, according to a statement released by the Finance Division.
