News Analysis |
One of Pakistan’s leading brokerage and investment banking company, JS Global Capital (JSGC), organized an investment conference in the United States of America. JS Global took part in the third Pakistan’s Investment Conference 2018 which was enacted from 25 June to 27 June 2018 in the United States.
Kamran Nasir ,the CEO JS Global Capital Ltd alongside other high officials such as Khalid Mansoor- Member Overseas Investors Chamber of Commerce (OICC), Ehsan Malik – CEO Pakistan Business Council, Richard Morin – CEO Pakistan Stock Exchange and Sulaiman Mehdi – Director Pakistan Stock Exchange comprised the high level delegation that took part in the Conference.
Overseas Investors Chamber of Commerce and Industry (OICCI) and Pakistan Business Council (PBC) were also among those that attended together with the delegation. Also included in the delegation were senior management of Corporate Institutions such as Engro Corporation (ENGRO), Hub Power Company (HUBC), United Bank Limited (UBL), MCB Bank Limited (MCB), Meezan Bank (MEBL), JS Bank (JSBL), DG Khan Cement (DGKC), Fauji Fertilizer Bin Qasim (FFBL), Fauji Foods, (FFL) and AGP Limited (AGP).
In addition to the other tasks, the planning includes the freezing of assets of groups and organisations such as Jamaatud Dawa, Falah-i-Insaniat, Lashkar-e-Taiba, Jaish-e-Muhammad, Haqqani network and Afghan Taliban.
Committed in promoting foreign investment in Pakistan, these corporate representatives met with representatives of leading international asset management firms and shared with them current performance and future strategy reports. There were also meetings with the US State Department in the US Chamber of Commerce and the Chief of the US-Pakistan Business Council.
The conference arrives at a delicate time, because the Financial Action Task Force FATF has officially decided to put Pakistan on a “grey” list. After joining the grey list, Pakistan’s economy which is already in the financial crisis can also enter a further point of deterioration which can increase its problems. The FATF decision may deter potential investors and FDI inflows, and Pakistan may probably struggle to reach international markets.
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The Foreign Office stated on Friday, that Pakistan intends to take appropriate measures in the future in order for the country to be removed from the name of the grey List. During a press briefing in Islamabad, FO spokesman Dr Mohammad Faisal said Pakistan needed to act on the FATF plan in order to be removed from the FATF gray list. While he acknowledged that the country could face economic crisis, he ruled out the chance that it could be placed on the FATF Black list.
Pakistan has apparently agreed to a 26-point action plan, which will be implemented over the next 15 months. In addition to the other tasks, the planning includes the freezing of assets of groups and organisations such as Jamaatud Dawa, Falah-i-Insaniat, Lashkar-e-Taiba, Jaish-e-Muhammad, Haqqani network and Afghan Taliban.