Govt moving to deep institutional reforms after economic stability, PM tells A&M delegation

ISLAMABAD: Prime Minister Shehbaz Sharif has said that after achieving the difficult goal of economic and financial stability, the government is taking effective steps for deep and fundamental institutional reforms. He was speaking during a meeting with a delegation of the international advisory firm Alvarez & Marsal (A&M).

The delegation was led by Peter Briggs, Managing Director of the firm’s North America operations. The prime minister said the aim of the reforms was to usher in a new era of export-led growth and a productive economy.

He said Pakistan was striving for progress through institutional reforms, digitalisation of the economy and the promotion of merit and transparency. The government is also focusing on improving the performance and capacity of national industry and production, and on attracting foreign direct investment.

According to the prime minister, the government is following an active strategy of reviewing the economic viability and sustainability of state-owned enterprises, under which these entities are being privatised.

He said Pakistan was ready to open up the economy further to international markets and to form productive partnerships with effective international advisory firms.

Peter Briggs thanked the prime minister for the opportunity to meet him and appreciated the government’s commitment to promoting foreign investment and engaging with global experts. He expressed his firm’s interest in cooperating in the creation of a business-friendly environment and a productive economy in Pakistan.

Federal Finance Minister Muhammad Aurangzeb, Minister for Economic Affairs Ahad Khan Cheema, Energy Minister Sardar Awais Ahmad Khan Leghari, Special Assistant Syed Tariq Fatemi, Adviser on Privatisation Muhammad Ali and other senior officials attended the meeting. The delegation also included Dr Reza Baqir from Dubai, Tariq Hameed from London and Onur Okutur from Istanbul.