Sardar Masood Khan says the economy of Pakistan is expanding & growing
WASHINGTON, Feb 13 (SABAH): “The economy of Pakistan is expanding and growing. Scale up your investments and reap huge dividends of a growing economy with investment friendly regime in the country,” said Pakistan’s Ambassador to the United States Sardar Muhammad Masood Khan.
“We have established Special Investment Facilitation Council to fast track approvals, eliminate red-tapism and provide all possible facilitation to potential investors,” he said. “We have prioritized IT, agriculture, energy and extractive industry as preferred areas for investments but that does not limit foreign investors to explore other sectors of economy and enjoy same privileges and incentive package which is available in our priority areas,” he continued.
Ambassador Masood Khan made these remarks during his virtual meeting with the leadership of Pakistan American Association of Greater Houston, the Pakistan American Association of Texas, and Pakistan American Community of Atlanta.
Highlighting comparative advantage available to US investors, Masood Khan pointed out presence of around one million expatriates in the US who were the real bridge-builders between the two countries; the existing profitable business ventures of around 80 US companies in Pakistan—mostly Fortune 500 companies; the existing investment portfolios of Pak-US citizens and the excess capacity which was available to be invested back in Pakistan for undertaking profitable business ventures.
The Ambassador emphasized that Special Investment Facilitation Council was effectively addressing issues which were faced by the investors in past. He urged the participants to create awareness about SIFC among Pak-US business community enabling them to take advantage of the facility.
“Pakistani American investors have proven success stories in various areas including hospitality, healthcare, diagnostics, and pharmaceuticals. We encourage you to scale up your investments in Pakistan,” said the ambassador.
Masood Khan said that the Embassy of Pakistan and the four Consulates were creating synergies and connecting Pak-US business community for greater economic activity.
“We are trying to connect all chambers of commerce under one umbrella to augment their efforts for the promotion of trade and investment in the country,” he said.
The Ambassador also said that a virtual summit of all chambers of commerce and business organizations would be held soon to be followed by an in-person investment seminar.
He underscored the importance of an up-to-date database of Pak-US business community to be shared with SIFC for better outreach and facilitation.
Discussing sister-state arrangements with various US states and metropolises, Masood Khan observed that better university linkages would also be instrumental in promoting bilateral cooperation in agriculture sector.
The participants briefed the Ambassador about their respective organizations and presented various suggestions to streamline and strengthen business activities and investment.
Ambassador Masood Khan appreciated the contributions being made by the participants towards enhancing economic activities between Pakistan and the United States.