Pak’s intensive efforts have boosted national economy: Pakistani diplomat

BusinessPak's intensive efforts have boosted national economy: Pakistani diplomat

CHICAGO, Pakistan: Pakistan offers one of the world’s best investment regimes with equal opportunities for local and foreign investors covering all sectors, Consul General Faisal Tirmizi has said.

Briefing a gathering of students, faculty and general public about “Economic Opportunities in Pakistan” at the Center for Global Studies at Purdue University, he said Pakistan government’s intensive efforts had led to a robust economic growth in a short span of time.

With a thriving middle class of 50 million, a per capita income of nearly US$ 5,000 in terms of purchasing power and workforce of under 30 years age bracket, Pakistan is the ideal investment magnetized gateway to Asia, Tirmizi told the gathering.

The Consul General further said that leading international publications, funds managers and rating agencies had acknowledged Pakistan’s outstanding economic turnaround.

Bloomberg had described Pakistan as the best undiscovered frontier market; Morgan Stanley’s Vice President predicted that the rise of Pakistan was only a matter of time, on account of its strategic location and demographic dividends; Moody’s had upgraded Pakistan from CAA 1 to B-, while Standard and Poor’s have improved our outlook to positive.

On the other hand, Fitch has given a rating of B to Pakistan.All these positive assessments repressent what actually lay in store in Pakistan, the Consul General said.

Speaking about Pakistan-US relations, Tirmizi said that following the successful visit of Prime Minister Muhammad Nawaz Sharif to Washington, the Pakistan-US Relations are on a upward trajectory, and the two countries had reiterated their long-standing strategic partnership in the region and beyond.

Purdue University is one of the leading Universities in US and known for its specialty in the business and economics programme.

Thomas Keon, Chancellor of Purdue University, who also attended the presentation, expressed his desire to establish linkages with Pakistani educational institutions.

Source: APP

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