Islamabad, 4 September 2024 (TDI): Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb on Wednesday received a delegation of international investors led by Amin Mohammad Khowaja, CEO of J.P. Morgan Pakistan.
The meeting focused on exploring fixed income investment opportunities within Pakistan’s evolving economy.
During the discussions, Senator Aurangzeb emphasized the considerable progress Pakistan has made in enhancing its macroeconomic indicators.
Notably, he highlighted a 14% increase in exports, a reduction in inflation to 9.6%—the lowest in 34 months—and a decrease in the Current Account deficit.
The Finance Minister also noted improvements in Pakistan’s sovereign credit ratings, which reflect a stable and optimistic economic outlook.
“Pakistan’s economic growth is supported by rigorous fiscal discipline, a favorable balance of payments and effective inflation management,” he stated.
Senator Aurangzeb elaborated on the government’s ambitious agenda for structural reforms, which includes broadening the tax base, rightsizing the public sector, advancing privatization, and implementing energy sector reforms.
These measures are intended to support overall macroeconomic stability.
The discussions centered on the interests of the institutional investors exploring fixed income investment opportunities in Pakistan’s economy. pic.twitter.com/QkjoNbwSna
— Ministry of Finance, Government of Pakistan (@Financegovpk) September 4, 2024
Reforms in Economy
The Finance Minister reaffirmed the government’s commitment to advancing these reforms to enhance the efficiency and governance of public institutions.
“These reforms are aimed at creating a more conducive environment for foreign investment and ensuring long-term economic stability,” he added.
The delegation praised the government’s efforts to foster a business-friendly environment and expressed optimism about the potential for increased investment flows into Pakistan.
The talks covered various potential investment areas, including renewable energy, information technology, infrastructure development, and the financial sector.
The investors showed strong interest in these sectors, acknowledging Pakistan as a market with significant potential and a strategic location as a gateway to regional markets.
The Finance Minister assured the delegation full support in facilitating their investment ventures.
He welcomed their interest in contributing to Pakistan’s economic growth and reiterated the country’s commitment to attracting foreign investments by maintaining a favorable business climate.
