ISLAMABAD: Federal Finance and Revenue Minister, Senator Muhammad Aurangzeb, on Monday affirmed the government’s dedication to enhancing investments in Pakistan by fostering a stable and conducive business environment for investors.
During a virtual meeting with President and Group Chief Executive Officer of Mashreq Bank Ahmed Abdelaal, the Minister discussed the economic outlook and potential investment opportunities in Pakistan. The meeting, which took place on Monday, also included Minister of State Ali Parvez Malik and senior officials from the Finance Division and the State Bank of Pakistan (SBP).
Senator Aurangzeb highlighted the significant potential within Pakistan’s IT and agriculture sectors, advocating for increased investment from both local and international stakeholders to spur economic growth. He praised Mashreq Bank’s interest in Pakistan’s financial landscape and expressed the government’s eagerness to re-engage with the bank.
The Minister provided an overview of the country’s economic conditions, noting recent improvements in macroeconomic indicators and the stabilization of currency and financial markets. He detailed the government’s economic policies and initiatives aimed at stabilizing the macroeconomic environment and boosting investor confidence. These include broadening the tax base, enhancing the ease of doing business, digitizing processes within the Federal Board of Revenue (FBR), advancing the government’s privatization agenda, and reforming State-Owned Enterprises (SOEs).
On his part, Abdelaal lauded the government’s efforts to bolster investor confidence and foster a business-friendly atmosphere in Pakistan. He expressed Mashreq Bank’s intent to deepen its involvement in Pakistan’s financial sector and contribute to the country’s economic growth, highlighting Pakistan as one of the most strategic markets for investment.
The GCEO of Mashreq Bank also outlined potential areas for investment, such as infrastructure, energy, technology, agriculture, and SMEs, which could enhance collaboration between Pakistan and the United Arab Emirates (UAE) in remittances, trade, finance, and Islamic banking.
The meeting underscored the robust partnership between Pakistan and Mashreq Bank, which aims to promote sustainable economic development and reflects Pakistan’s commitment to prudent fiscal management, investor-friendly policies, and inclusive growth.
