State Bank of Pakistan Governor Dr Shamshad Akhtar has said that the influx of foreign direct investment (FDI) is likely to touch $7 billion by the end of the current fiscal year. Addressing a seminar, titled 'Economic Profile of Pakistan', at Karachi Expo Centre.
She said that foreign investors were taking interest in various sectors, particularly the banking and energy. She said that acquisitions of local banks by foreign banks, and GDRs would take the inflow of FDI to $7 billion by the end of this fiscal year and added that Samba group had recently remitted $100 million in connection with the acquisition of Crescent Commercial Bank.
She said that Pakistan was situated at a strategic geographical location in the region, and coupled with structured reforms and macro economic stability the country provided lucrative opportunities to investors. The country provides conducive and friendly environment for both local and foreign investors, she remarked.
The Governor of the central bank also mentioned the facilities and incentives the country is offering to exporters and foreign investors. Dr Shamshad in her keynote speech discussed several facets of Pakistan in its stride towards attracting more FDI. She said that that the government was implementing friendly and open policies to facilitate foreign trade and investment.
Commerce Minister Humayun Akhtar said that "having been only three years since it was implemented the first time, Expo Pakistan has become the leading brand of Pakistan's exports".
He said that he had instructed the newly formed TDAP to register the 'Expo Pakistan' name as a trademark. The conference was also addressed by Salim Raza, CEO of Pakistan Business Council. He spoke on 'Evaluation of Sectoral growth & Investment Opportunities in Pakistan with special reference to export promotion'.
Dr A.R Kemal, Consultant to SBP Governor (Academia Perspective) spoke at length on the potential of FDI in export-oriented manufacturing industries. The gathering was lso addressed by Nasir Vohra, Convenor Banking, APTMA (Business Community Perspective).
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