ISLAMABAD: Federal Commerce Minister Jam Kamal Khan said that the government’s facilitation-only approach has successfully strengthened the confidence of investors and entrepreneurs in their commitment and ushered in a new era of economic growth and cooperation.
Addressing a press conference on the sidelines of the two-day Pakistan-Saudi Arabia Investment Conference, the minister said that unlike the previous government, the current government’s role in facilitating and developing efforts to build a strong economy is limited. very important in formulating foreign policy and honoring commitments.
Ministers include Information and Broadcasting Minister Attaullah Tarar and Federal Petroleum Minister Dr Musadiq Masood Malik.
This new approach has produced positive results, with Saudi investors expressing confidence in the government’s commitment.
The minister attributed this confidence to Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman Al Saud who have consistently fulfilled the promises made by the governments of the two countries’ ministerial meetings in the past two months.
The government’s efforts resulted in more than 100 foreign companies from various sectors including energy, food, construction and IT working with Pakistani entrepreneurs. This enthusiasm is even more evident in the current conference where business groups from the two countries gather to explore opportunities.
The minister appreciates the important role of the business community in improving the country’s economic performance and acknowledges the government’s duty to create an enabling environment for economic growth. The government has taken concrete steps to facilitate export-oriented companies and the ease of doing business, including tax, energy and tariff reforms.
This new approach marks a significant change from the past when Pakistani companies exited the country. Now they come back even considering joint ventures. The government’s goal is to promote economic development and business relations and employment, not loans, aid and grants.
International Finance Corporation (IFC) also recognized the positive portfolio in Pakistan and increased investor confidence.
He explained that today’s conference is the first stage of a multi-phase process, after which the commitments made here will be strictly implemented. Ultimately, this will lead to fruitful results from developing businesses, services, employment opportunities and most importantly, improving the overall quality of life of the people.
