Islamabad: A delegation from the global professional services firm Alvarez and Marsal met with Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, to explore their involvement in the country’s privatization initiatives and the establishment of a sovereign wealth fund. The talks centered on the firm’s potential contribution to Pakistan’s economic development through strategic investment and advisory roles.

The meeting, held at the Finance Division, was led by Peter Briggs, Division Executive at Alvarez and Marsal. He was joined by Abdalla ElEbiary, Managing Director, and Reza Baqir, Global Head of Sovereign Advisory. Mr. Briggs highlighted the firm’s commitment to investing in Pakistan, indicating plans to open an office in the country as part of their long-term strategy in the region.

Alvarez and Marsal’s interest align with the Pakistani government’s objective to accelerate privatization, especially in power distribution companies. Minister Aurangzeb welcomed the firm’s expertise, noting the addition of 24 state-owned entities to the privatization pipeline as a step toward unlocking significant investment opportunities.

The finance minister also discussed Pakistan’s economic stabilization over the past 14 months, which he credited with rejuvenating market confidence and opening new growth avenues. Recent investment commitments from global entities like AP Moller Maersk, as well as local entrepreneurs, underscore the country’s evolving economic landscape.

Minister Aurangzeb reiterated the government’s commitment to enhancing trade, investment, and tourism, reflecting Prime Minister Shehbaz Sharif’s vision. He expressed optimism that collaboration with Alvarez and Marsal could support a prosperous future for Pakistan’s economy.