PM invites global consulting firms to support Pakistan’s economic reforms

ISLAMABAD: Prime Minister Shehbaz Sharif has invited international consulting firms to partner with Pakistan in strengthening economic growth, improving the performance of domestic industries and attracting foreign direct investment (FDI), as the government pursues structural reforms and the privatisation of state-owned enterprises (SOEs).

During a meeting with Peter Briggs, managing director of North American operations at international consulting firm Alvarez & Marsal (A&M), the prime minister said Pakistan was committed to export-led growth, digitalisation of the economy and greater efficiency in the manufacturing sector.

Earlier, World Bank said Pakistan’s per capita income could triple by 2050 if the country accelerates structural reforms to encourage private investment, strengthen institutions and improve productivity

Shehbaz said that after achieving economic and fiscal stability, the government was taking measures to implement deep-rooted structural reforms and build a productive economy.

He said Pakistan was open to promising international markets and willing to consult globally recognised economic experts to support its reform agenda.

The prime minister said the government was evaluating the economic viability of SOEs and pursuing privatisation where appropriate to support national economic growth.

Emphasising the importance of professional expertise, Shehbaz said the government wanted to work with qualified professionals and international consulting firms to strengthen the economy while ensuring accountability and measurable results.

Briggs thanked the prime minister for the meeting and appreciated the government’s commitment to attracting FDI and engaging with international economic experts. He expressed his firm’s interest in cooperating with Pakistan to promote a productive economy and a conducive business environment.

Finance Minister Muhammad Aurangzeb, Economic Affairs Minister Ahad Cheema, Power Minister Awais Ahmed Leghari, Special Assistant to the Prime Minister Syed Tariq Fatemi and government officials also attended the meeting.