Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has said that the incumbent government is committed to enhance investments in the country for which it is taking all possible measures to provide a stable and conducive business environment to investors. This was stated by the finance minister in a virtual meeting with President and Group Chief Executive Officer (GCEO) Mashreq Bank, Ahmed Abdelaal held here on Monday to discuss the economic outlook and explore investment opportunities in Pakistan. Minister of State, Ali Parvez Malik, and senior officers from the Finance Division and State Bank of Pakistan (SBP) also attended the meeting. Senator Muhammad Aurangzeb underscored the significant potential of Pakistan’s IT and Agriculture sectors, calling for increased investment from both local and international stakeholders to drive economic growth.

He highly admired the interest of Mashreq Bank in Pakistan’s financial landscape and expressed keen interest of the government to re-engage with Mashreq Bank. Providing an overview of the economic outlook of the country, the minister mentioned the recent improvements in the macroeconomic indicators and stability of the currency and financial markets. Senator Aurangzeb also mentioned the economic policies and initiatives of the government, emphasizing the ongoing efforts to stabilize the macroeconomic environment and enhance investor’s confidence through key initiatives of the government such as broadening the tax base, improving the ease of doing business, digitalization within the Federal Board of Revenue (FBR), the privatization agenda of the government, and SOEs reforms. Speaking on the occasion, Ahmed Abdelaal appreciated the policies and initiatives of the government towards improving the investors’ confidence and creating a business-friendly environment in the country.

He expressed Mashreq Bank’s interest in deepening its engagement in Pakistan’s financial sector and contributing to the country’s economic development, adding Pakistan was amongst one of the most strategic markets for investment opportunities. The GCEO Mashreq Bank also discussed the potential areas for investment in Pakistan such as infrastructure, energy, technology, agriculture, and SMEs in order to enhance collaboration between Pakistan and the United Arab Emirates (UAE) for remittances, trade, finance, and Islamic banking. According to the statement the strong partnership between Pakistan and Mashreq Bank in promoting sustainable economic development was also highlighted in the meeting. The dialogue reflected Pakistan’s commitment to prudent fiscal management, investor-friendly policies, and inclusive growth, marking a positive step forward in enhancing economic collaboration.

Credit: Independent News Pakistan