Pakistan appreciates US support in FATF, COVID-19 & debt relief

May 21, 2020: Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh has said that Pakistan appreciates the support extended by the US in FATF, COVID-19 and debt relief from the G-20 countries.

He was speaking during a virtual discussion with the office-bearers and members of the US-Pakistan Business Council in Islamabad today.

The Adviser said we value our relationship with the US, particularly the business collaborations which have a great potential of growth given the opportunities for business and investment available in Pakistan. 

Dr Abdul Hafeez Shaikh said the business environment in Pakistan facilitated by a greater ease of doing business, improved regulations and huge market potential, was ideal for investment and joint ventures by the US businessmen.

The Adviser said the government had recently announced a 1.2 trillion rupees stimulus package that included direct cash transfers, payment of tax refunds, subsidized credits and payroll loans, to shore up the economy and boost businesses. Similarly, the upcoming budget was being designed in a way to provide maximum relief and incentives to the businesses and promote trade by reducing tariff on a large number of items of raw material. 

Speaking on the occasion, Esperanza Jelalian, President of the US-Pakistan Business Council and Steven Kobos, chairman of the US-Pakistan Business Council said the US government and the businessmen saw Pakistan as an important trade partner. They hoped the bilateral collaborations between the two countries would further grow in the coming times.

Radio Pakistan