Finance Minister Senator Ishaq Dar has said that the performance of Pakistan’s Eurobond reflects the confidence of the international investors in our financial market.
Senator Ishaq Dar said this during his meeting with a delegation of Consortium comprising of UBS, Dubai Islamic Bank and Nomura International at the finance ministry on Thursday.
The finance minister briefed the delegation on the upward trend of the economic indicators and the clear roadmap which the government had put in place for economic development of the country.
Dar added that the stock market was also a clear indicator of their economic health. The finance minister informed the delegation that the privatization commission was following timeline for the divestment of public sector entities already approved by the cabinet committee on privatization. He said that they were committed to their reform agenda and to take the economy to the path of its potential growth rate.
Diego Pignatelli Group MD/Chairman of EMEA investment Banking UBS briefed the finance minister on their interest in Pakistan which provided an opportunity to international investors. He said Pakistan’s financial and economic improvements were visible and its story was very good for potential investors.
He expressed the hope and commitment of the consortium to participate in the government’s divestment plan. He added they wanted to do business with Pakistan on a fast track and their focus was to make successful investment in the country.
Anwar Belgaumi, Head of International Division and Advisory Dubai Islamic Bank, briefed the finance minister on their interest in launching Islamic products.
He said after witnessing lot of appetite for Islamic bond in the market, the bank was working on initiating Sukkuk bond. He also informed that the Dubai Islamic Bank had an interest in launching foreign remittances bond too which could attract overseas Pakistanis to invest in their own country.
Finance Secretary, Dr Waqar Masood, Advisor to Finance Ministry, Rana Assad Amin and SA to FM, Shahid Mahmood, also attended the meeting.
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Thank you,
Mr.Joe Duane
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