Prime Minister Shaukat Aziz on Friday said increasing investment in the country is a testimony of the confidence of local and foreign investors in its economic policies and potential. He said this during a meeting with Essa Abdulfatta Kazim, Chairman Dubai Financial Market, UAE, who called on him along with a delegation of investors.
The Prime Minister said the capital market reforms have improved the functioning of stock exchanges in the country and Karachi Stock Exchange is among the best performing stock markets of the region. Shaukat Aziz said Karachi Stock Exchange is in the process of de-mutualisation and conversion from a guarantee limited company to a public limited company.
He said as a result of the multi-pronged strategy adopted by the government to facilitate investments and growth of businesses, for the first time in the country's history the rate of investments has reached 20 percent of GDP. Last year record foreign investment of $3.8 billion was received and this year the amount is expected to be over $5 billion, he added.
He said the comparative advantage enjoyed by Pakistan due to the availability of skilled manpower, low manufacturing cost, availability of infrastructure and raw material enables the industrial sector to undertake contract manufacturing. Essa Abdulfatta Kazim said Dubai Financial Market is keen to be a strategic investor in Karachi Stock Exchange.
He said the economic stability achieved by Pakistan and the successful implementation of reforms particularly in the financial sector have enhanced its investment potential and his company is planning to invest in Pakistan in the financial sector, capital market and real estate business.
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