Summary PM Shehbaz says Pakistan’s economy is stable and moving toward growth, highlights investment opportunities and reforms, and stresses dialogue and diplomacy for regional peace.
NEW YORK (Dunya News) – Prime Minister Shehbaz Sharif has said Pakistan’s economy has stabilised and is moving towards growth, while inviting US-based Pakistani business leaders to explore investment opportunities in the country and highlighting key sectors with potential for cooperation.
Speaking at a meeting with delegations from the US-Pakistan Business Council and the Business Council for International Understanding on the sidelines of the 81st session of the United Nations General Assembly, the prime minister said Pakistan had undertaken major structural reforms, including digitisation of the economy, the Federal Board of Revenue and e-governance.
Business representatives from information technology, artificial intelligence, finance, beverages, manufacturing, pharmaceuticals, organic products and other sectors attended the meeting. Prime Minister Shehbaz briefed the participants on the government’s business- and investment-friendly policies and measures aimed at developing different sectors.
He said Pakistan’s economy was now stable and had moved towards growth, while the Gulf crisis had emerged at an unfavourable time for the country. He said Pakistan was doing its best to facilitate peace efforts and expressed hope that, with the support of friendly and brotherly countries, long-term peace could be achieved in the region.
The prime minister said regional peace was important for business and investment and highlighted agriculture, mining, information technology, artificial intelligence, energy security, investment, imports and shipments as areas with significant potential for cooperation.
On agriculture, he said Pakistan could benefit from modern machinery and technology, including combine harvesters and other equipment, to improve efficiency, increase production and reduce costs. He described agriculture as an area with major potential for Pakistan.
Prime Minister Shehbaz also highlighted Pakistan’s mineral resources and said the country had considerable potential in the mining sector.
He said IT and AI-led initiatives offered significant opportunities, particularly because of Pakistan’s young population. The government was working to empower young people through vocational and skills training and provide them with productive employment opportunities.
The prime minister also highlighted Pakistan’s potential to provide security and safety for energy reserves, including petrol, oil and gas, while identifying investment, imports and shipments as other areas for discussion with the business delegation.
He said privatisation was another important area of interest for investors. Pakistan International Airlines was being privatised, and he expressed confidence that its new Pakistani owners would improve the airline.
The prime minister said the government had also privatised a bank and was processing the privatisation of power distribution companies in various provinces. He said many other areas of mutual interest were being offered to the private sector.
He said the government’s role was to facilitate and support the private sector and act as a catalyst rather than become part of the private sector.
The meeting was attended by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Defence Minister Khawaja Muhammad Asif, Finance Minister Muhammad Aurangzeb, Special Assistants Tariq Fatemi and Bilal Bin Saqib, Pakistan’s Permanent Representative to the United Nations Asim Iftikhar and Pakistan’s Ambassador to the United States Rizwan Ahmed Sheikh.
Separately, Prime Minister Shehbaz Sharif met United Nations Secretary-General António Guterres in New York, where the two discussed major regional and international developments, including the situation in the Middle East.
The prime minister stressed the importance of dialogue and diplomacy in resolving regional tensions and reiterated Pakistan’s commitment to promoting peace and stability. He also reaffirmed Pakistan’s commitment to multilateralism and the central role of the United Nations in promoting international peace and development.
The two leaders also discussed the situation in Afghanistan and what Pakistan described as a drastic increase in terrorism emanating from Afghan soil.
Prime Minister Shehbaz reiterated Pakistan’s attachment to the purposes and principles of the UN Charter and reaffirmed support for the Palestinian people’s right to self-determination and statehood.
He also raised concerns over the rising trend of Islamophobia, particularly in Pakistan’s immediate neighbourhood, and called for effective international action to address the issue.
Guterres commended Pakistan’s role and voice at the United Nations, its contribution to international peace and security, and its efforts for the peaceful resolution of conflicts and durable peace and stability in the region. He also appreciated Pakistan’s role and sacrifices in countering terrorism.
