Islamabad (Commerce Desk): Finance Minister Muhammad Aurangzeb has said that measures are being taken to increase foreign investment in Pakistan, and several US companies are interested in investing in the country.
Addressing an event in Karachi, Muhammad Aurangzeb said the government’s responsibility is to provide a favorable business environment, while it is the private sector’s job to take business activities forward. According to him, the private sector is being encouraged to achieve sustainable economic stability, and the privatization process will also continue.
The finance minister said that when he visited Karachi in March 2024, the stock market index was at the level of 67,000. He said that Rs60 billion has so far been disbursed under the “Apna Ghar” scheme, while banks have approved loans worth Rs340 billion.
Muhammad Aurangzeb said the Council for the Development of Capital Markets is preparing its recommendations. According to him, when it comes to foreign investment, the question is often asked about where the investment is, but completing the investment process takes time.
The finance minister emphasized the need to maintain economic stability on a sustained basis, saying that news about the failure to meet the tax collection target receives significant attention, but attention should also be given when tax collection exceeds the set target.
He said the government is trying to introduce “New Economy 2.0” for the country and is also working to increase ordinary investors’ access to the bond market.