LONDON: London Stock Exchange (LSE) Chief Executive Officer Xavier Rolet has stated that the LSE is always looking to maximise partnership opportunities with Pakistan’s corporate sector.
In a meeting with Finance Minister Ishaq Dar, Rolet congratulated him on the success of Pakistan’s Eurobond issue in the international market.
He appreciated the positive steps taken by the government in Pakistan to put the economy back on track.
According to him, British companies see enormous potential in Pakistan as a profitable investment market. “Pakistan’s economic success is gaining momentum. The ongoing collaborative efforts between the London and Karachi Stock Exchanges will yield results,” he said.
Dar briefed the investors present in the meeting about the country’s macroeconomic indicators that had shown a steady improvement as a result of stabilisation measures and structural reforms undertaken by the government.
“Forex reserves had increased to $12 billion and would reach $15 billion by September this year,” he said.
In addition to this, he said, the capital market had grown by over 40% since the government took over in June last year. “The country is open to business and offers attractive investment opportunities with high returns.”
Dar pointed out that with the launch of Eurobond, Pakistan had returned to the international market after seven years, adding the response of investors showed a strong demand for the paper.
He announced that Pakistan would issue an Islamic bond denominated in dollars for Islamic banking institutions and funds as after initiating economic reforms with successful implementation, the country’s status in international markets had improved considerably.
About energy crisis, the minister said the government was launching various projects and taking necessary steps to add around 10,000 megawatts of electricity to the national grid, which would eliminate energy shortfall in the next four years.
“We have already managed to clear circular debt of Rs500 billion within 45 days of forming the new government.”
He said the World Bank had approved two concessionary loans for Pakistan after a gap of five years and would provide $1 billion for energy and development reforms.
Efforts to secure financing for Diamer Bhasha Dam were going on and the government had already started land acquisition from its own resources, Dar said.
He also highlighted the opportunities in the telecommunications sector and apprised the investors of the recent auction of 3G and 4G licences, which fetched about $1.1 billion.
No comments:
Post a Comment
thank you for your precious time and feedback.