FM discusses investment opportunities with FLSmidth’s global CEO

September 04, 2024 (MLN): To strengthen the economic ties between Pakistan and Denmark, particularly in the mining and cement industries, which hold significant potential for growth and development, federal minister for finance and revenue, senator Muhammad Aurangzeb held a meeting with the global CEO of FLSmidth.

FLSmidth is a leading global provider of engineering and equipment for the mining and cement industries.

During the meeting, the finance minister emphasized Pakistan's strategic shift towards an export-led growth model aimed at ensuring sustainable economic development across various sectors.

He also highlighted the government's ongoing efforts in the form of comprehensive reforms in the energy and power sectors, privatization of state-owned enterprises, and restructuring of the tax system and public expenditure.

Senator Aurangzeb underscored the government's commitment to facilitating private sector-led growth, with the state focusing on creating a business-friendly environment.

"We are determined to pursue our change agenda despite resistance from those favoring the status quo. The private sector must lead the way, and our role is to ensure maximum facilitation," he added.

Mikko Keto, the Global CEO of FLSmidth, expressed his appreciation for the support provided by the Government of Pakistan and shared insights into the company's growing presence in the country.

He highlighted FLSmidth’s increased investment in Pakistan’s mining sector, which has led to enhanced local value addition, increased taxation contributions, and the creation of employment opportunities for locals.

"We have a comprehensive understanding of the mining potential in Pakistan, and we are keen to explore further investment opportunities through local partnerships and collaborations," stated Keto.

The finance minister assured the delegation of Pakistan's dedication to providing a favorable and conducive investment climate for foreign investors.

The meeting concluded with both parties expressing a strong commitment to strengthening the economic ties between Pakistan and Denmark, particularly in the mining and cement industries, which hold significant potential for growth and development.

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