Pakistan is fast improving ease of doing business in the country, this was stated by Senator Mohammad Ishaq Dar while addressing the members of US Pakistan Business Council (USPBC) at US Chamber of Commerce in Washington DC today.
Finance Minister Dar said that after having achieved the macroeconomic stability, the Govt was making concrete efforts to achieve sustainable and inclusive higher growth. The present Government is committed to ensuring transparency in all sectors of the economy and for this purpose, we are working closely with international organizations like OECD etc. For the Govt, bringing good governance through transparency and fighting against corruption & tax evasion is a serious business.
Mr. Ishaq Dar apprised the audience that international rating of Pakistan has improved significantly from negative to positive during the span of last four years. Our Stock Market has emerged as 5th best performer in the world which clearly indicates that Pakistan has huge potential for investment. Pakistan has so far introduced 24 laws to make the environment business friendly where as ten more such laws are in the making.
While stating that Pakistan and the US have long history of strong bilateral relations particularly in the arena of trade, business & social development, Minister Dar urged the US investors to take advantage of the tremendous investment opportunities opening up in Pakistan. He informed the participants that international Companies must consider relocating their manufacturing operations to Pakistan as the country had abundant supply of cheap labour and provides convenient access to very large regional market.
Presently, Pakistan is offering low interest rate and is in the process of setting up Pakistan Infrastructure Bank led by IFC to provide capital for infrastructural development to the private sector. Finance Minister Ishaq Dar added that financial & digital inclusion of Pakistani population was among top priorities of the Govt.
The event was attended by the representatives of large US Multinationals including GE, Boeing, LockHeed Martin, Proctor & Gamble, Monsanto, ExxonMobil, Motorola, Uber, Cocacola and others who greatly appreciated the robust improvement in economic & business environment in Pakistan.
April 24, 2017