PM Shehbaz Sharif briefed US business leaders on Pakistan’s economic reforms and investment opportunities in technology, agriculture, mining, ports and privatization.
NEW YORK: Prime Minister Shehbaz Sharif met delegations from the Business Council for International Understanding (BCIU) and the US-Pakistan Business Council (USPBC) in New York on Sept. 25, highlighting Pakistan’s economic reforms, investment opportunities and business-friendly policies.
Business representatives from information technology, artificial intelligence, finance, beverages, manufacturing, pharmaceuticals, organic products and other sectors attended the meeting, according to the Prime Minister’s Office.
Welcoming the delegations, Shehbaz briefed participants on the government’s business- and investment-friendly policies and initiatives aimed at promoting development across various sectors.
“The Pakistan-U.S. Business Council and the Business Council for International Understanding are excellent bridges between Islamabad and Washington,” the prime minister said.
He said Pakistan-U.S. relations had improved significantly over the past year and maintained that Pakistan’s economy was now stable and moving toward growth.
Referring to regional developments, Shehbaz said the Gulf crisis had come at a difficult time for Pakistan. He said the country was playing its full role in promoting peace in the region and expressed hope that cooperation among friendly and brotherly countries would help achieve long-term peace.
The prime minister emphasized that long-term regional peace was important for business and investment. He also highlighted structural and policy-level reforms being undertaken in Pakistan.
Shehbaz said the government was working rapidly on digitizing the economy, technology and e-governance. He identified agriculture as another sector with significant investment potential, saying the use of artificial intelligence, modern technology and machinery could increase per-acre productivity.
He added that modern agricultural equipment could help reduce costs and improve efficiency.
Mining and minerals were also identified as important areas for investment. The prime minister said Pakistan had been blessed with abundant mineral resources.
Shehbaz described the country’s youth as a valuable asset and said the government was providing them with professional training and skills to help create employment opportunities and promote economic self-reliance.
He said initiatives related to IT and artificial intelligence were among the government’s priorities. He also highlighted investment potential in ports and shipping.
Privatization was another area discussed during the meeting. Shehbaz said the privatization of Pakistan International Airlines had been completed and expressed hope that its new Pakistani owners would improve the airline. He added that the government was also moving toward privatizing power distribution companies.
“The government’s job is to facilitate the private sector in business and investment and provide a conducive environment,” the prime minister said.
Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Defence Minister Khawaja Muhammad Asif, Finance Minister Muhammad Aurangzeb, Special Assistants Tariq Fatemi and Bilal Bin Saqib, Pakistan’s Permanent Representative to the United Nations Asim Iftikhar and Pakistan’s Ambassador to the United States Rizwan Ahmed Sheikh also attended the meeting.
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