Political stability, investment protection in place for robust growth: Jilani

ISLAMABAD: Ambassador of Pakistan to the United States Jalil Abbas Jilani has said that political stability, security and protection of investments are in place as a result of reform agenda of the Government of Pakistan.

Jilani was chairing the proceedings of a seminar arranged by the Embassy of Pakistan at Washington DC to gather views of Pakistani-American community on promoting private sector investments in Pakistan, said a message received here.

Highlighting the salient features of Pakistan’s investment framework, the Ambassador said the government had achieved sound stabilization of economy, economic growth was picking up while inflation had massively declined.

Forex reserves were continuing to build up and interest rates had touched the lowest level in decades, he added.       Jilani also referred to the continued confidence of International Financial Institutions (IFIs) on Pakistan’s economic policies.

A number of the representatives of leading Pakistani community organizations participated in the seminar. The meeting deliberated on the amended draft Incentive Package for Overseas and Non-Resident Pakistanis to Invest in Pakistan, being formulated by the Board of Investment (BOI) in consultation with stakeholders.

The draft package proposed a whole range of incentives to overseas Pakistanis for making investments in Pakistan.  The comprehensive document would plug gaps in the previous policies and raise the level of trust and confidence of investors.

Senior officials of USAID also briefed the participants on USAID’s Pakistan Private Investment Initiative (PPII), that was launched by USAID in 2014.

By investing in Pakistani private businesses, the United States was supporting private sector growth and job creation and Pakistan’s role as a robust and fast-growing economic partner among its neighbours and within the global economy. It was highlighted by the speakers that Pakistan offered equal opportunities to foreign and local investors.  As an emerging economy, Pakistan offered great opportunities, which could be tapped by overseas Pakistanis desirous of making safe and profitable investments in their home country.

The Embassy’s initiative was widely appreciated by the Pakistan-community organizations. The participants observed that an inclusive decision-making approach by the government would create a broad-based ownership by the community of the policy under preparation. APP