ISLAMABAD: Caretaker Foreign Minister Jalil Abbas Jilani asked American business leaders on Saturday to explore investment opportunities in Pakistan after the government took several steps to streamline the process of bringing foreign companies into the country.
The minister visited the Business Council for International Understanding, a non-profit membership organization facilitating dialogue between political leaders and corporate entities, to highlight the resilience of Pakistani markets despite recent economic challenges to the country.
He particularly mentioned the country’s Special Investment Facilitation Council (SIFC), a hybrid civil-military body, saying it was established to provide single-window operation to international businesses and attract investment in minerals, agriculture and other sectors.
“FM [Jalil Abbas Jilani] interacted with US business leaders at Business Council for International Understanding in New York,” the foreign office said in a brief social media message. “[He] invited US businesses to take advantage of investment opportunities in Pakistan, especially under the umbrella of SIFC.”
According to the state-owned Associated Press of Pakistan news agency, the minister underscored the stabilizing measures taken by the government to steer the country toward economic recovery and growth.
He maintained that Pakistan’s ongoing economic transformation offered unique opportunities to businesses interested in making investments across various sectors.
Pakistan has grappled with tough economic circumstances in recent years and avoided sovereign debt default in July after securing a $3 billion bailout from the International Monetary Fund (IMF).
However, the international lender has specified a number of stringent reforms to put the country’s economy back on track.
The government is currently striving to increase Pakistan’s exports from nearly $27 billion to $100 billion within the next five years.
It is also seeking more foreign investment to strengthen the fundamentals of the national economy.
