Hafeez Shaikh meets top business leaders in New York

NEW YORK: Finance Minister Dr Abdul Hafeez Shaikh met with top American corporate leaders and investors and invited them to avail tremendous business opportunities that a host of economic sectors offer in Pakistan.Shaikh, who traveled to New York at the conclusion of his talks with IMF,World Bank at semi-annual meetings and held economic dialogue with U.S. officials in Washington, interacted with a number of business leaders and financial management experts.He informed business leaders of the state of Pakistani economy and the measures the government is taking to achieve macro-economic stability and reform in some key sectors.The finance minister spoke about the privatization programme and fiscal policies and said the government has put in place an investment regime which facilitates doing business in the country. He especially listed energy, oil and gas exploration, hydro projects, infrastructure and telecommunication as sectors offering vast business promise.

Shaikh met with leaders of Bank of America and financial management and advisory company Merrill Lynch including its president, managing director and chief executive officer. Separately, he addressed a group of investors belonging to Invesco, Goldma Sachs and TIA-CREF and apprised them of business opportunities in Pakistan.Hafeez Shaikh also met with top managers of Alliance Bernstein, J.P.Investment Management and held out Isalamabad’s commitment to providing busines facilities in the country.The U.S. business leaders expressed interest in exploring investment opportunities in Pakistan and wanted to know when Pakistan is coming back to capital market.They also showed interest in forthcoming issuance of exchangeable bonds of Oil and Gas Development Company Limited. Pakistan currently is in the rocess of getting expressions of interest in connection with issuance of $ 500 million bonds of the company. – APP