Caretaker PM Kakar looks to attract US investment on sidelines of UNGA

Caretaker Prime Minister Anwaar-Ul-Haq Kakar has said the US corporate sector should look into ways to further enhance its relationship with Pakistan.

The remarks were made while addressing a delegation of the US Pakistan Business Council (USPBC) on the sidelines of the annual session of the United Nations General Assembly (UNGA) in New York on Thursday, according to a statement by the Prime Minister’s Office (PMO).

The caretaker Prime Minister identified agriculture, tech sector including fintech, pharmaceuticals and health, and digital banking sectors where US companies could enhance their investments in Pakistan.

Kakar said attracting foreign investments in all sectors of Pakistan’s economy remains the government’s top priority, adding that the government was focused on creating a business-friendly environment and welcomes all suggestions.

Kakar emphasised that the government believed in a “no-holds-barred foreign investment regime”, and had constituted the Special Investment Facilitation Council (SIFC) to facilitate foreign investors, bolster confidence and expedite project implementation in priority areas of agriculture, IT, energy and minerals & mining.

SIFC officials hold talks with Sindh businessmen

SIFC is a government initiative which focuses on defense production; agriculture; mines and minerals, energy sector, and IT industry; with a target of $100 billion in FDI within a span of three years.

Esperanza Jelalian, President USPBC, said the council will continue to engage with Pakistan to seek mutually beneficial ways of increasing cooperation.

In their remarks, the USPBC members briefed Kakar on their businesses in Pakistan and plans to enhance their presence in the Pakistani market.