PM Kakar meets British investors to discuss investment opportunities in Pakistan

Caretaker Prime Minister Anwaar-ul-Haq Kakar met with British investors in London on Monday to discuss investment opportunities in Pakistan's financial and capital markets, Radio Pakistan reported.

Fidelity International Limited, Wellington Management, Ashmore, Jefferies International, Redwheel Capital, Switex Industrial SA, Oxford Frontier Capital, GuarantCo, JP Morgan, Kalrock Capital, and UBL UK were among the renowned investment businesses present during the meeting with the premier.

The group was briefed by the prime minister on Pakistan's present economic situation, emphasising government initiatives to strengthen the country's external balance.

According to PM, recent administrative decisions made the Pakistani rupee stronger versus the US dollar, encouraging hope for stability.

He said that encouraging signs including inflows from friendly countries, the World Bank, the Asian Development Bank, and others helped to lower inflation, stabilize reserves, and revive industrial growth.

PM Kakar discussed the possibility of foreign direct investment in Pakistan's important industries as well as the success of the Stand-By Arrangement with the IMF, which has exceeded expectations and stabilized the country's economy and currency.

The premier also highlighted economic improvements such as reduced inflation with expected sustained decline, and upcoming growth in agriculture and industry.

He mentioned improved trade after the removal of restrictions on imports and fiscal measures for monetary support and medium-term inflation targets.

PM Kakar also emphasized Pakistan's investment-friendly initiatives by forming the Special Investment Facilitation Council.

The premier informed the delegation that the initiative simplifies the business environment while streamlining investment procedures.

The British investors enquired about the continuity of the IMF programme in Pakistan and reform efforts from the short to medium term.

PM Kakar gave them the assurance that Pakistan has demonstrated its commitment to the IMF plan by implementing changes outlined in its agreement with the lender.

Last week, PM Kakar met with Jakob Stausholm, CEO of Rio Tinto Group, a major player in the mining and minerals industries globally and invited him to Pakistan to look into investment opportunities.

During his discussion with Jakob Stausholm in New York, the prime minister encouraged Rio Tinto Group to consider investing in Pakistan's mining and mineral sector.