Pakistan tries to attract American private sector

“We are implementing reforms and policies; we mean business, and Pakistan will be a good host,” Dar told the gathering of prominent business leaders. DESIGN: CREATIVE COMMON

WASHINGTON: 

Finance Minister Ishaq Dar Friday invited American entrepreneurs to make use of lucrative investment opportunities existing in Pakistan, as he assured businessmen of Islamabad’s commitment to good governance and transparency to facilitate business and economic activity, while visiting the United States (US).

The finance minister is trying to meet with as many world leaders as possible, to attract investment for Pakistan.

Speaking to members of the US-Pakistan Business Council, Senator Dar expounded the vast investment potential the country offers in the fields of energy, gas and oil exploration.

“Transparency, merit, due process, good governance are going to be hallmarks of the government,” he stated.

“We are implementing reforms and policies; we mean business, and Pakistan will be a good host,” he told the gathering of prominent business leaders.

The new government, he said, is focused on addressing three inter-related problems including energy, economy and extremism.

On steps towards meeting Pakistan’s exponential energy requirements, the minister spoke of the Dasu and Diamer-Bhasha dams and that completion of these projects would help ensure smooth flow of energy.

He informed the business and corporate leaders of the reforms and measures the government had taken to check inflation, curb fiscal deficit, attract foreign investment, bolster revenues, step up tax collection.

As a result of the new government’s steps, the international business and financial institutions’ confidence in the country’s economic development potential had increased tremendously, said Dar.

The minister, who is heading a Pakistani delegation to annual IMF-World Bank meetings, is accompanied by Finance Secretary Dr Waqar Masood Khan, Governor State Bank Yaseen Anwar and Secretary Economic Affairs Division and Nargis Sethi.

Earlier, Esperanza Jelalian, Executive Director of the Council, welcomed the Minister.

In her opening remarks, Carolyn L Brehm, Vice President of the US Pakistan Business Council, spoke of the great economic potential of Pakistan and its advantageous geographic location.

“Our members see value in Pakistan’s geographical proximity — it has a talented workforce,” she said, noting that a number of companies are running profitable businesses in the country.