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Dar briefs US tech leaders on Pakistan’s economic turnaround

NEW YORK: Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar held a high-level engagement in New York with senior executives from top-tier global investment, banking, and technology firms, including Morgan Stanley, Bank of America, BNP Paribas, JP Morgan, and Goldman Sachs.

He highlighted Pakistan’s improving macroeconomic indicators, including the first current account surplus in 14 years, diminishing inflation, and upgrades in sovereign credit ratings by global agencies.

He also shed light on strategic initiatives including the Special Investment Facilitation Council (SIFC), established to streamline investment processes across priority sectors including agriculture, IT, minerals, energy, and tourism.

Underscoring the role of the finance, banking and IT sectors in catalyzing economic growth, the DPM/FM emphasised Pakistan’s potential in fintech, infrastructure, sustainable finance, digitization and tokenization of assets, and digital banking. He also pointed to ongoing reforms, rapid digitalization, and enhanced compliance with global AML/CFT standards, all of which are contributing to stronger investor confidence.

Participants, affiliated with institutions such as Morgan Stanley, Bank of America, BNP Paribas, JP Morgan, and Goldman Sachs, engaged in a candid discussion on Pakistan’s investment landscape. They shared valuable perspectives and expressed interest in exploring private sector-led initiatives that could contribute to Pakistan’s growth and complement broader efforts to strengthen economic ties between Pakistan and the United States.

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