Washington D.C.: “Pakistan is making efforts to building its economic heft by streamlining economy, improving trade and investment climate, plugging loopholes and becoming active part of intergovernmental trade organizations,” said Pakistan’s Ambassador to the United States.
“We are constructively engaged with IMF, World Bank and other international financial institutions but beyond band-aid solutions, we have to create economically resilient Pakistan,” he said.
“We are determined to galvanize the entire cast of decision makers and stakeholders to transform our economic situation,” he continued.
Ambassador Masood Khan made these remarks during his wide-ranging interview with Adrienne Ross during Ambassador Insider Series, organized jointly by Washington Diplomat and Embassy of Pakistan Washington D.C.
The conversation attended by over 80 attendees including foreign journalists, congressional staffers, members of diplomatic corps, US civil society and others covered a wide range of subjects. These included, among others, the forthcoming elections in Pakistan, growing role of women and youth in various walks of life, freedom of press, exponential growth of tech sector in the country, digitalization of economy, Special Investment Facilitation Council, US investments in Pakistan, Pak-US dialogues, the challenge of climate change, bilateral ties with United States and China, CPEC, the situation in neighboring Afghanistan and the issue of repatriation of illegal foreigners from the country.
On a questions regarding electoral process in Pakistan, the Ambassador said that elections were on track and the nation was geared towards electoral process. He predicted greater participation of youth and women in the elections keeping in view their proactive role and greater participation in the affairs of the country.
The Ambassador highlighted that women of Pakistan were excelling in all walks of life including education, professions and businesses and their presence was increasing in politics, civil services, judiciary, armed forces and other professional fields. Women in Pakistan have become a force to be reckoned with, he said.
Talking about freedom of press, Masood Khan noted the presence of a strong and vibrant media in the country and said that the role of government, as regulator, and role of responsible journalism was critical to keep citizenry informed for better decision making.
Masood Khan noted over 80 million vibrant and enterprising middle class of the country promised bright prospects for the country.
He highlighted successful business ventures of around 80 US companies and said that Pakistan was a huge market of 230 million people and was positioned to serve Central and West Asia, Middle East and North Africa.
The Ambassador also highlighted exponential growth in tech-startups which were being funded and supported by Silicon Valley and US Venture Capital funds.
He said that the country was diligently working to improve its trade and investment climate. The Special Investment Facilitation Council would provide one window solution to investors and business community and would streamline the regulatory processes of the country.
On investment opportunities in Pakistan, the Ambassador said that Pakistan has prioritized energy, IT, agriculture and extractive industry as major areas for foreign direct investment. Huge incentives were being offered in these areas. In this context, the Ambassador also highlighted investment being made by UAE, KSA, Qatar Kuwait, and other Gulf countries in oil and gas, agriculture and other priority areas.
Discussing economic situation of the country, the Ambassador said that Pakistan was a tale of two nations when it came to economy. We are, however, trying to reduce the gap between rich and the poor. He said that efforts were afoot to streamline taxation system of the country to generate sufficient resources for meeting our developmental needs.
While mentioning active and constructive engagement with IMF, World Bank and other International Financial institutions, the Ambassador noted that Pakistan had never defaulted in meeting its financial obligations and was focused on improving its macroeconomic indicators l.
Masood Khan noted that a vast network of 39,000 alumni, who had completed their studies in the United States under various programs, were not only contributing towards the development of the Pakistan but were also an abiding link between Pak-US relations.
Discussing the issue of Climate Change, Masood Khan mentioned huge devastation due to climate-induced biblical floods in Pakistan and the efforts of the country in establishing Loss and Damage Fund. He said that Pakistan, with the help of its friends, was striving to build resilient infrastructure and climate smart agriculture. We are investing in preparedness and response, he said.
He said that climate resilience and reconstruction would took years and the country needed US support for that.
In this context the Ambassador highlighted Pak-US dialogues in climate change, energy security and agriculture which he said were interconnected.
The Ambassador also dilated upon Pakistan’s relations with Taliban and how the scourge of terrorism continued to haunt the people of Pakistan.
“With the withdrawal of US forces from Afghanistan, the war on terror may have come to an end for the United States but the people of Pakistan are still fighting this war,” he observed. He expressed the hope that the United States would continue to remain engaged with the people of Afghanistan and would continue partner in the development of the country.
On a question, the Ambassador highlighted rich cultural diversity and geographical beauty of Pakistan that made the country an ideal destination for variety of tourism including adventure tourism, eco-tourism, religious tourism, mountaineering, paragliding and other life-long experience.
The Ambassador thanked Adrienne Ross, a prominent international global affairs consultant and communications expert and former Deputy Assistant Secretary for Strategic Communications, and Mr. Victor Shiblie, President and CEO of Washington Diplomat for the conversation.