DUBAI: The U.S. Agency for International Development (USAID) has announced special plan for private investment in Pakistan for supporting economic growth.
The announcement was made at the end of the first day of a United States government-sponsored investment conference on Pakistan in Dubai.
Under the plan two new private equity funds of forty-eight (48) million dollars will be launched‚ focused solely on fast growing small- and medium-sized businesses in Pakistan.
Speaking on the occasion‚ Finance Minister Mohammad Ishaq Dar said the government had adopted an economic policy assigning a leading role to the private sector in the country’s economic development.
Ishaq Dar said Pakistan had a fairly strong regulatory system for business and finance‚ comprising State Bank‚ Securities and Exchange Commission and Competition Commission of Pakistan.
The Finance Minister appreciated the initiative and efforts of USAID in promoting private sector development in Pakistan within its larger goal of supporting economic growth.