PM Shehbaz invites US banks to invest in Pakistan

Prime Minister Shehbaz Sharif reaffirmed the government’s commitment to preserving a stable macroeconomic environment to attract international investors, urging American banks to engage in Pakistan’s vital industries, including infrastructure, energy, technology, and agriculture.

The prime minister expressed these views during a meeting with a group of Pakistani-American bankers on the sidelines of the 79th United Nations General Assembly (UNGA) session.

Prominent bank representatives from JP Morgan, Natixis Corps & Investments, Sumitomo Mitsui Banking Corp, Goldman Sachs, Citizens Bank, Lazard, and Audax Group were among the delegation’s members.

He briefed the team on the main steps the government has made to keep the economy stable and draw in foreign investment to Pakistan.

These steps include expanding the tax base, improving the business environment, and continuing to restructure the state-owned firms.

As a consequence of these actions, Fitch and Moody’s, two international rating organizations, have upgraded Pakistan’s credit rating and improved its economic statistics.

He also gave the group an update on the creation of the Sustainable Finance Framework, which will enable the government to issue sustainability and green bonds on global financial markets.

With gratitude for the chance to speak with the prime minister, the group praised the government’s policies for being crucial in bringing macroeconomic stability to Pakistan.

In order to support exports, the delegation also conveyed a strong desire to work with the government to boost the manufacturing sector, particularly SMEs.