Islamabad, April 17, 2014 (PPI-OT): A delegation of Consortium comprising of UBS, Dubai Islamic Bank and Nomura International called on the Finance Minister, Senator Ishaq Dar at the Finance Ministry today. Finance Minister briefed the delegation on the upward trend of the economic indicators and the clear roadmap which the government has put in place for economic development of the country.
He said that the performance of Pakistan’s Eurobond reflects the confidence of the international investors in our financial market. He added that the stock market is also a clear indicator of our economic health.
The Finance Minister informed the delegation that the Privatization Commission is following timeline for the divestment of Public Sector Entities already approved by the Cabinet Committee on Privatization. He said that we are committed to our reform agenda and to take the economy to the path of its potential growth rate.
Mr. Diego Pignatelli Group MD/Chairman of EMEA investment Banking UBS briefed the Finance Minister on their interest in Pakistan which provides an opportunity to international investors. He said that Pakistan’s financial and economic improvements are visible and its story is very good for potential investors.
He expressed the hope and commitment of the Consortium to participate in the government’s divestment plan. He added that we want to do business with Pakistan on a fast track and our focus is to make successful investment in the country.
Mr. Anwar Belgaumi Head of International Division and Advisory Dubai Islamic Bank briefed the Finance Minister on their interest in launching Islamic products. He said that after witnessing lot of appetite for Islamic bond in the market, the Bank is working on initiating Sukkuk bond.
He also informed that the Dubai Islamic Bank has an interest in launching Foreign Remittances bond too which can 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, Mr. Shahid Mahmood also attended the meeting.
For more information, Contact:
Director General (Media)
Ministry of Finance
Government of Pakistan
Room # 514, Block-’Q’, Finance Division,
Pak. Sectt. Islamabad
Phone: 92 51 9206382, 9211707