PM invites overseas Pakistanis to take advantage of investment opportunities in Pakistan

UK-based Boohoo Group keen to establish long-term buying linkages with Pakistan


ISLAMABAD (APP): Caretaker Prime Minister Anwaar-ul-Haq Kakar on Monday invited the overseas Pakistanis to take advantage of the opportunities offered by the government for investment in Pakistan.

During a meeting with a delegation of prominent British Pakistani businessmen which called on him in London, the prime minister invited the diaspora businessmen to invest, especially in Special Economic Zones, to contribute to Pakistan’s economic recovery. The prime minister highlighted positive economic indicators resulting from reforms pursued by the interim government, including a strengthening Pak. Rupee, reduced inflation, and expected economic growth.

The removal of import restrictions and efforts to restore the business community’s confidence are expected to further boost external accounts, he added. PM Kakar spoke about Pakistan’s investment-friendly approach, mentioning incentives and ease-of-business reforms. He introduced the Special Investment Facilitation Council (SIFC) to streamline investment in key sectors through a single-window platform.

This initiative aims at enhancing ease of doing business, removing bureaucratic hurdles, and creating a long-term investment roadmap.

Moreover, Prime Minister Kakar also shared the government’s resolve and commitment to privatize loss-making state-owned enterprises. The British Pakistani business leaders expressed their appreciation for the prime minister’s outreach to the diaspora and conveyed their strong interest in expanding their business operations in Pakistan while actively seeking to increase their investments in the country.

They hoped that reforms undertaken by the government would continue in the long run and assured the prime minister of their support for putting Pakistan back on the growth trajectory.

Meanwhile, UK-based Boohoo Group has expressed keen interest in establishing long-term buying linkages with Pakistan and the ambition to create a comprehensive supply chain in the country, encompassing organic cotton to apparel production.

The interest was shown by the leading British businessman and Chairman of Boohoo Group Abdullah Kamani, who called on Caretaker Prime Minister Anwaar-ul-Haq Kakar in London today.

They also hoped for improved Pakistan-UK air connectivity to facilitate increased imports from Pakistan.

The Prime Minister conveyed Pakistan’s commitment to facilitating investment and offered support in establishing manufacturing facilities within the country, particularly within Special Economic Zones (SEZs). Furthermore, he urged Boohoo Group to consider opening buying houses in Pakistan, emphasizing the advantages of doing so. He also extended an invitation to Boohoo Group to send a buying delegation to Pakistan for enhanced collaboration.

The meeting marked a significant step towards enhancing economic cooperation and trade between Pakistan and the Boohoo Group.

It is pertinent to mention that Boohoo Group is a prominent British online fashion retailer with annual sales exceeding one billion pounds, with a wide range of popular brands including boohooMAN, Pretty Little Thing, Miss Pap, Karen Millen, Coast, Oasis, and Debenhams.

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