US companies invited to enhance investments in Pakistan

Kakar says Special Investment Facilitation Council facilitating foreign investors.

NEW YORK: Faced with rising inflation, unemployment and resultant public outcry, especially over electricity bills jacked up under the IMF conditions, the caretaker government of Pakistan is trying to attract foreign investors to boost business activities. 

In this connection, the government team led by caretaker prime minister Anwaarul Haq Kakar has been engaged in negotiations with heads of multinational companies on the sidelines of the UNGA annual session in New York.

During these interactions, Mr Kakar called upon the US corporate sector to invest in Pakistan, especially in the mineral, health, IT and education sectors.

Talking to US-Pakistan Business Council (USPBC), he said attracting foreign investments was Pakistan’s top priority. To facilitate the foreign investors, a new organization has been established and issuance of visa also expedited.

He said the Special Investment Facilitation Council was aimed at facilitating foreign investors, bolster their confidence and expedite project implementation in priority areas of agriculture, IT, energy and minerals and mining.

He said the US companies could enhance their investment in agriculture, technology sector including fintech, pharmaceuticals and health, and digital banking sectors.

Speaking on the occasion, US-Pakistan Business Council Esperanza Jelalian assured Mr Kakar that the council will continue to engage with the government of Pakistan to seek mutually beneficial ways of enhancing cooperation.

The Business Council members briefed the caretaker PM on their businesses in Pakistan and plans to enhance their presence in the Pakistani market.

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