UK Pakistan Business Council to Help Draw More Investment to Pakistan

The UK Pakistan Business Council will meet with investors in London in the last week of September to draw in more foreign investment to Pakistan.

The announcement was made by the Chairman of the council’s Pakistan chapter, Mian Kashif Ashfaq.

He said in a news release issued on Sunday that the UK is the fifth-largest economy in the world measured by nominal gross domestic products (GDP), comprising three percent of the global Gross Domestic Product (GDP). He added that the UK is the ninth-largest exporter and the fourth-largest importer in the world.

The council plans to explore avenues for investment in various sectors in Pakistan in the meeting, and promote a set of incentives that Prime Minister Imran Khan has announced for foreign investors.

Ashfaq said Pakistan’s exports to the UK increased by 33 percent growth year-over-year (YoY) to $2.03 billion in FY 2021. This growth was mainly driven by a boost in the export of textile products due to the market diversification drive by the UK companies in the aftermath of the pandemic-induced crisis.

UK companies have realized their vulnerability due to an over-reliance on Bangladesh, India, and China.

Ashfaq has set up a special facilitation center at his office in Lahore to help, guide, and assist all the UK investors, and they will be provided the facilities to visit the proposed sites for investments, including free transportation.