ISLAMABAD: The global professional services firm Alvarez & Marsal here on Wednesday expressed strong commitment to investing in Pakistan, highlighting the firm’s long-term strategy in the region’s expanding markets.
The commitment was expressed by company’s delegation that called on Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, according to press release issued by the finance ministry.
The delegation was led by Peter Briggs, Division Executive at Alvarez & Marsal, along with Abdalla ElEbiary, Managing Director, and Reza Baqir, Global Head of Sovereign Advisory.
On the occasion, Peter Briggs mentioned that the firm was considering opening an office in Pakistan as part of its broader commitment to assist the government in its privatization efforts and to attract potential global investors to the country. He said, Pakistan’s growing market offers significant opportunities for investment and long-term growth.
According to the statement, the meeting was part of ongoing discussions regarding the firm’s potential involvement in Pakistan’s privatization processes and the establishment of a sovereign wealth fund.
Speaking on the occasion, Muhammad Aurangzeb welcomed the interest shown by Alvarez & Marsal, recognizing the firm’s expertise in privatization and sovereign advisory.
He expressed the government’s appreciation for their potential contribution to Pakistan’s efforts to unlock investment opportunities, particularly in the privatization of power distribution companies.
He highlighted that the government was committed to accelerating the privatization process, with 24 state-owned entities already added to the privatization pipeline.
Furthermore, Senator Aurangzeb discussed the macroeconomic progress made over the last 14 months, noting the stabilization of Pakistan’s economy, which has rejuvenated the market and created new growth avenues.
He also referenced recent announcements by prominent business groups, such as global shipping giant AP Moller Maersk, which has committed to a large investment in the maritime sector.
Along with this, local investors and entrepreneurs are also stepping forward with renewed enthusiasm to seize the growth opportunities in the country. This, the minister stated, was a clear indication of the economic progress and a promising sign for Pakistan’s development.
The minister reiterated that the government’s vision, aligned with the objectives of Prime Minister Shehbaz Sharif, is to bolster trade, investment, and tourism in Pakistan, tapping into the region’s growing economic corridor. He expressed hope that the partnership with Alvarez & Marsal would pave the way for a prosperous future for Pakistan and its economy.
