Daily Times

The Executive delegation of the American Business Council of Pakistan (ABC) led by Mr. Jamshed Safdar President ABC (CEO, ULS / UPS), Mr. Amin Mohammad Khowaja (Member Executive Committee and CEO, J.P. Morgan), Mr. S.M. Wajeeh (Member Executive Committee and Country Manager, Pfizer Pakistan), Mr. Sami Wahid (Managing Director, Mondelez Pakistan), Mr. Asif Ahmed (Country General Manager, IBM), Mr. Adnan Shaffi (CEO, PriceOye), Mr. Haseeb Aslam (Managing Director, FMC) and Ms. Aisha Sarwari (Director Public Affairs & Communications, Coca-Cola) met with Senior Government Officials to discuss ways to enhance engagement, encourage foreign direct investment (FDI), and boost economic growth.

The meetings were held with Mr. Syed Naveed Qamar, Minister for Commerce; Mr. Tariq Mahmood Pasha, Minister of State on Revenue; Mr. Tariq Bajwa, Special Assistant to the Prime Minister on Finance & Revenue; and Mr. Akif Saeed, Chairman, Securities & Exchange Commission of Pakistan (SECP). During the meetings, the delegation discussed the ease of doing business, standardization of taxation and revenue policy, and protection international investors and their local interests, to ensure continued economic growth. This leading coalition multinationals of American companies is a substantive development partner for the government – employing 75,000 directly and millions along its chain whilst also providing globally relevant technological advancements across sectors. This strong network’s capital investment in the last three years is standing at PKR 57 billion with a contribution to the National Exchequer in 2022 at PKR 159 billion. The delegation emphasized the importance of better engagement with the government to achieve mutual goals and interests. The delegation urged to standardize revenue policy to ensure a uniform business landscape. “We are committed to working with Pakistan to enhance economic growth and promote foreign investment.”

“We are confident that our partnership will continue to bear fruit in the future.” said Mr. Jamshed Safdar, President ABC. The American companies also presented several sector-specific recommendations to the government leaders on how to create economic resilience in a post-floods economy in partnership. The delegation also emphasised the scale of ESG-centric activities carried out by these companies. These companies have spent PKR 1.6 billion in 2022 alone with projects cumulatively supporting 8.7 million patients and distributing 12.5 million meals to those in need, among other initiatives. The meeting between the ABC and Pakistani government officials was found to be a positive step towards creating a stronger partnership between the public and private sectors. The ABC seeks continued collaboration with the government to create a more vibrant and prosperous economy for all Pakistanis.