Pakistan seeks foreign expertise to advance economic reforms

Pakistan is seeking expertise from international consulting firms to advance structural reforms, improve state-owned enterprises (SOEs) and attract foreign investment, Prime Minister Shehbaz Sharif said during a meeting with Alvarez & Marsal (A&M) Managing Director Peter Briggs in Islamabad on Friday.

According to a statement, the PM welcomed the managing director while reiterating Pakistan’s willingness to open its economy to promising international markets and to consult globally acknowledged economic experts.

The premier stated that after successfully achieving the goal of economic and fiscal stability, the government is taking effective measures to undertake deep-rooted structural and economic reforms to usher in an era of export-led growth and a productive economy.

PM also highlighted that the government is giving special attention to enhance the performance and efficiency of the domestic manufacturing sector while equally focusing on measures to invite foreign direct investment (FDI).

The prime minister told the visiting delegation that the government is following a vibrant strategy to evaluate the economic viability of SOEs and subsequently to tread a path of privatisation for uplift of the national economy and growth.

The prime minister especially emphasised that the government is cognizant of the vital importance of having a team of experts and a professionally qualified workforce to improve the economic growth engine.

He further said that in the same context, Pakistan is ready to have a productive and meaningful partnership with the international consulting firms to strengthen economic growth, while ensuring impact and accountability at their end.

Peter Briggs expressed his appreciation for the government’s commitment to invite foreign direct investment (FDI) and to positively engage with international economic experts.

Briggs also conveyed the eagerness of the firm to have positive coordination and cooperation with Pakistan for a progressive business ecosystem and productive economy.

Federal Minister for Finance, Muhammad Aurangzeb; Federal Minister for Economic Affairs, Ahad Khan Cheema; Federal Minister for Power, Sardar Awais Ahmed Khan Leghari; Special Assistant to the Prime Minister (SAPM) Syed Tariq Fatemi; and senior government officials attended the meeting.