Key Takeaways
- Prime Minister Shehbaz Sharif met with Alvarez & Marsal Managing Director Peter Briggs.
- The government aims to improve state-owned enterprises and attract foreign investment.
- Pakistan is evaluating the economic viability of SOEs for potential privatisation.
Prime Minister Shehbaz Sharif has expressed Pakistan’s intention to seek foreign expertise to advance economic reforms, improve state-owned enterprises (SOEs) and attract foreign direct investment (FDI).
During a meeting with Alvarez & Marsal Managing Director Peter Briggs in Islamabad, Sharif welcomed Briggs and highlighted the government’s commitment to opening its economy to international markets and consulting with globally recognized economic experts.
The prime minister stated that after achieving economic and fiscal stability, the government is now focusing on deep-rooted structural and economic reforms to foster export-led growth and a productive economy.
Sharif emphasized the importance of having a team of experts and a qualified workforce to enhance the economic growth engine, and expressed willingness to form a productive partnership with international consulting firms.
Peter Briggs appreciated the government’s commitment to FDI and expressed eagerness for positive coordination and cooperation with Pakistan to strengthen the business ecosystem and promote a productive economy.
The government is also giving special attention to the domestic manufacturing sector, evaluating the economic viability of SOEs, and considering privatisation as a means to uplift the national economy and growth.
Federal Minister for Finance Muhammad Aurangzeb, Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Power Sardar Awais Ahmed Khan Leghari, and Special Assistant to the Prime Minister Syed Tariq Fatemi were among those who attended the meeting.
The prime minister highlighted the government’s strategy to privatise unviable SOEs, which he believes will contribute to the overall economic growth of the country.
Briggs conveyed the firm’s readiness to work with Pakistan to ensure impact and accountability in the economic reforms process.
