Finance Minister foresees insurance-driven economic boost in Pakistan

December 14, 2023 (MLN): The insurance industry can stimulate the development of capital markets and encourage the construction of sustainable and climate-resilient infrastructure in Pakistan if liquidity from the sector is effectively deployed, caretaker finance minister Dr Shamshad Akhtar highlighted during a meeting on Thursday.

According to a press release issued today, the Finance Minister made these remarks to Hela Cheikhrouhou, Regional Vice President of the International Finance Corporation (IFC) for the Middle East, Central Asia, Turkey, Pakistan, and Afghanistan at the Finance Division.

Welcoming Hela Cheikhrouhou, Finance Minister stated that the government is paying attention to improve capital market, insurance industry, Investment Finance, export oriented growth and establishment of special economic zones to boost exports.

She further highlighted the current economic situation of Pakistan and said that the government is committed to introduce reform in various sectors to address the long outstanding structural issues.

Moreover, reform agenda and economic reforms of the interim government were shared highlighting the measures that have brought economic and fiscal stability to the country.

The Finance Minister encouraged IFC to concentrate its private sector operations in insurance sector, export oriented business and export processing zones.

Hela Cheikhrouhou appreciated the steps taken by the government in economic and financial sectors for improvement in the economy of Pakistan.

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