Pakistan's Prime Minister Shehbaz Sharif says economy has stabilized — Dawn
Pakistan's Prime Minister Shehbaz Sharif said in New York that the country's economy has stabilized and is moving toward growth. During a meeting with a delegation from the U.S.-Pakistan Business Council on the sidelines of the 81st session of the UN General Assembly, he urged Pakistani entrepreneurs from the United States to consider investment opportunities in Pakistan.
As Dawn reports, Sharif said that the government had carried out major structural reforms, including the digitalization of the economy, the tax authority, and e-governance. According to him, Pakistan's economy is now stable and moving toward growth.
Investment areas
Among the promising areas for cooperation, the prime minister named agriculture, mining, information technology, artificial intelligence-based initiatives, energy security, as well as investment, imports, and freight transportation.
According to Sharif, Pakistan's agricultural sector could benefit from modern equipment, including combine harvesters, which would help increase efficiency, boost production, and reduce costs. He also emphasized the country's potential in the mining industry and opportunities for the development of IT and artificial intelligence given Pakistan's young population.
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The prime minister added that the government seeks to expand professional and skills training for young people in order to involve them in productive employment. He also said that regional peace is an important condition for discussing business and investment.
Privatization of state assets
Shehbaz Sharif called privatization another important area for investors. According to him, Pakistan International Airlines is in the process of privatization, and new Pakistani owners would, in his view, be able to improve the airline's situation.
He also said that the government has already privatized a bank, while energy distribution companies in various provinces are undergoing privatization. Sharif stressed that the government's role is to facilitate and support the private sector, rather than replace it.
Meeting with the UN secretary-general
Separately, Sharif met with UN Secretary-General António Guterres. According to the Pakistani government, they discussed key regional and international developments, including the situation in the Middle East and Afghanistan. The prime minister also reaffirmed Pakistan's support for the Palestinian people's right to self-determination and statehood.
