LONDON: Prime Minister Shehbaz Sharif marked a significant moment at the London Stock Exchange by attending the Market Open Ceremony and underscoring the structural reforms driving Pakistan’s economic recovery. The event also celebrated the listing of Pakistan’s three-billion-dollar dual-tranche Eurobonds.
According to Radio Pakistan, Prime Minister Sharif emphasized that the latest Eurobond listing demonstrates the government’s commitment to fortifying the economy. He articulated that Pakistan is poised to attract foreign investment, offering opportunities for mutually beneficial and secure investments. The Prime Minister credited deep-rooted structural reforms and the digitization of the economy as pivotal in steering the economy back on course.
Prime Minister Sharif acknowledged the guidance sought from international financial markets to enhance Pakistan’s economic landscape through investment rather than relying on sovereign debt alone. He also noted the ongoing privatization efforts, highlighting the successful transfer of Pakistan International Airlines and First Women Bank to the private sector, with more state-owned enterprises lined up for privatization.
Addressing the challenges posed by the Gulf crisis, Sharif affirmed Pakistan’s role in mediating between the United States and Iran, expressing hope for continued efforts towards a safer regional situation. Additionally, he invited David Schwimmer, CEO of the London Stock Exchange Group, to visit Pakistan, assuring a warm welcome.
In a historic note, Shehbaz Sharif became the first Pakistani Prime Minister to open trading at the London Stock Exchange, symbolizing strengthening financial ties between Pakistan and London’s financial institutions. His participation in the ceremony at Paternoster Square marked an important step in enhancing these connections.
Upon arrival, Prime Minister Sharif was received by David Schwimmer and senior officials of the London Stock Exchange Group, signifying the importance of the visit in fostering international economic relations.