Pakistan has started regaining its economic strength: Sardar Masood Khan
WASHINGTON, August 15 (SABAH): “Pakistan has started regaining its economic strength. Our GDP should climb up to 3.5 percent this fiscal year. We are expecting heavy inflows of foreign investment,” said Pakistan’s Ambassador to the United States Sardar Muhammad Masood Khan. “The Morgan Stanley Capital International (MSCI) has announced the inclusion of 15 Pakistani companies in its Frontier Market Indexes. This will increase the total number of Pakistani companies in this index to 17,” he said. “The MSCI is listing 41 companies of Pakistan Stock Exchange (PSX) in its MSCI Frontier Markets Small Cap Indexes. These decisions should open new doors for investment in Pakistan,” he continued.
Ambassador Masood Khan made these remarks while addressing a special ceremony to commemorate 76th Independence Day of Pakistan at Embassy of Pakistan Washington DC. The Ambassador said that the Gulf States – Saudi Arabia, UAE, Qatar and Bahrain – were entering into Pakistani markets in a big way by investing in mining, refineries, ports, airports and agriculture. This should expand space for American investments, he added.
Addressing Pakistani-American community, the Ambassador thanked them for their valuable contributions towards socio-economic development of Pakistan. “You are the power house behind the Roshan Digital Account. In the last fiscal year, the cumulative foreign currency inflows through Rohan Digital Accounts (RDAs) by Pakistani diaspora have surpassed $6.5 billion. We know that Pakistani Americans have a major share in this upswing. Congratulations and thanks!” said the Ambassador.
He pointed out that last year Pakistani Americans had send nearly $2.5 billion remittances, the same as the previous year. Masood Khan said that Pakistani American have become more prosperous and they were becoming politically savvy. “Ten amongst you have become members of States Assemblies or Senates; and your representation in the Administration is growing. You make us proud,” he said. “Today,” said the Ambassador, “we also celebrate successes of Pakistani-Americans.”
Highlighting the importance of the day, the Ambassador said that Pakistan was a dream for hundreds of millions of Muslims of South Asia. “Pakistan has an ideology, a vision and a destiny. Our state gives us identity. We have a compass to reach our destination, our North – and the real North is a politically stable, economically prosperous Pakistan anchored in eternal values of liberty, equality and justice.”
“We will continue to work for a peaceful neighborhood where all can live in harmony,” he said. “While we shape a bright future for our people, we are aware of the threats to our nation. We would eliminate them and prevail, as always. The dream of Pakistan is incomplete without the realization of the right of self-determination of the people of Jammu and Kashmir,” he said.
The Ambassador, on the occasion, also paid glowing tribute to Shuhudas and ghazis who have been giving their ultimate sacrifices for making the homeland secure.
Talking about Pak-US relations, Masood Khan said the two countries were celebrating yet another year of growing diplomatic ties and economic partnerships. He thanked Secretary Blinken for his message of solidarity and friendship on the Independence Day. The Ambassador thanked the US Government, Congress and the American people for their support for stronger bilateral relations and for standing by the people of Pakistan during last year’s devastating floods.
Masood Khan said that Pakistan-US trade was on track. The IT sector, especially tech startups, were being supported by Venture Capital Funds, he pointed out. “These are good trend lines. Let’s build on them,” he said. Ambassador Khan further said that the Independence Day was a day “to count our blessings, celebrate our successes, reaffirm our aspirations and resolve to scale new heights in our journey.” “There is plenty to be optimistic about and the sky is the limit for what we can.” He said that it was our shared responsibility to reject merchants of despair and devalue the currency of fake fables. If we have to move forward, there is no room for despondency and dejection, doom and gloom, he continued. Reaffirming strong commitment to democracy, he predicted that the forthcoming electoral processes would usher in an era of political resilience and economic viability. “Have faith in Pakistan. Our unshakeable belief in the state of Pakistan will take us to the places we aspire.
Earlier during the flag hoisting ceremony, the Ambassador unfurled national flag in the backdrop of national anthem. A large number of Pakistani-Americans, US officials and other attended the ceremony.
On this occasion the Ambassador decorated the prestigious GRAMMY award winner Pakistani vocalist Ms. Arooj Aftab’s with President’s Pride of Performance award. Aftab is the first Pakistani woman to win a GRAMMY. Later accompanied by the participants, the Ambassador cut the cake to celebrate 77th Independence Day of Pakistan.