Putrajaya (TDI): Prime Minister Shehbaz Sharif on Monday underscored the crucial role of the private sector in strengthening economic ties between Pakistan and Malaysia, urging business leaders to capitalize on new avenues of trade and investment.
Speaking at the Pakistan–Malaysia Business and Investment Conference alongside Malaysian Prime Minister Anwar Ibrahim, Shehbaz said that governments could only lay the groundwork for growth, while the real driving force must come from private enterprises.
“It is the private sector that must drive the engine of growth,” he said. “Governments can create frameworks and provide support, but businesses should be led by entrepreneurs, experts, and enterprises, not by the state.”
The event brought together leading entrepreneurs from both countries to explore potential joint ventures and deepen commercial cooperation.
Shehbaz Sharif expressed optimism that enhanced collaboration between Pakistani and Malaysian businesses could help Pakistan reduce its dependence on external financial support. Praising Malaysia’s economic success under Anwar Ibrahim’s leadership, he described it as “nothing short of a miracle.”
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The prime minister said that with similar commitment and teamwork, Pakistan could also achieve sustainable growth and financial independence.
“We are currently under an IMF program that has helped stabilize our economy. This program will conclude in two years. But if the business communities of Pakistan and Malaysia join hands and form long-term partnerships, I believe we can bid farewell to the IMF forever,” he remarked.
Prime Minister Anwar Ibrahim, in his address, called for greater cooperation under the ASEAN framework, noting that expanding the bloc’s economic outreach would bring shared prosperity to the region. He assured Pakistani investors that Malaysia would facilitate smoother business processes and regulatory coordination.
Anwar also delighted the audience by speaking a few sentences in Urdu, drawing warm applause and reflecting the closeness between the two nations.
Highlighting Pakistan’s agricultural potential, Shehbaz Sharif said the country ranked among the top global producers of cotton, milk, and mangoes.
“Our mangoes are among the best in taste worldwide,” he said. “With Malaysia’s experience, we can set up SME-based processing units for off-season packaging, value addition, and exports.”
He confirmed that Pakistan would export $200 million worth of Halal meat to Malaysia, assuring that the country would compete on quality, price, and timely delivery.
The prime minister also pointed to Pakistan’s vast mineral wealth, citing the Reko Diq copper and gold project in Balochistan as a key opportunity for joint investment, especially amid the global shift toward clean energy.
Touching on tourism, Shehbaz said Pakistan’s northern regions, including Gilgit-Baltistan, Hunza, Nanga Parbat, and K2, offered world-class scenic attractions. With Malaysia’s tourism expertise, he added, these destinations could be developed into international hotspots.
He further proposed that Pakistan’s young and skilled workforce could support Malaysian industries struggling with rising labor costs. Joint ventures, he said, could help both countries establish production units serving Gulf, Central Asian, and other markets.
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On the economic front, the premier noted signs of steady improvement, stating that inflation had dropped from 36 percent to single digits and interest rates had declined from 22.5 percent to 11 percent.
Concluding his address, PM Shehbaz said that close cooperation between the two nations’ public and private sectors could unlock “new horizons” of partnership in trade, investment, and industry.
