PM directs early roadmap for Private Equity Fund to boost investment

ISLAMABAD, Aug 3 (APP): Prime Minister Muhammad Shehbaz Sharif, Monday, directed the relevant authorities to finalize, at the earliest, a roadmap for establishing a Private Equity Fund, aimed at promoting investment in Pakistan and supporting small and medium-sized businesses.

Chairing a meeting on promoting private investment and sustainable economic growth, the prime minister also called for a comprehensive roadmap to develop the country’s public equity market and private equity funds to ensure greater availability of investment capital and facilitate foreign investment.

He stressed promoting private investment, saying ‘it is essential for the country’s economic development.’

He also opined that private equity funds could serve as an effective catalyst for investment, business expansion and job creation.

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Minister of State for Finance Bilal Azhar Kayani, Special Assistant to the PM Haroon Akhtar and senior officials of relevant institutions attended the meeting, PM Office Media Wing said in a press release.

The prime minister identified minerals, agriculture, livestock, energy, information technology and other sectors as having significant potential to become key drivers of Pakistan’s economic growth.

He further observed that the public equity market could provide an important avenue for investment in these sectors.

Noting that investment by the banking sector remained limited, the prime minister stressed the need to promote alternative sources of financing and investment.

He said the government was prioritizing measures to strengthen Pakistan’s economy on sustainable foundations by promoting private-sector-led investment, industrial development and exports.