Karachi: InfraZamin collaborated with Nutshell Group to jointly host Pakistan’s first ever Infrastructure Summit at a local hotel. Infrastructure development helps reduce unemployment and stimulates economic growth. Muhammad Azfar Ahsan founder CEO Nutshell Group and former Minister of State and Chairman, Board of Investment said, “For infrastructure, we need political stability for an empowered public sector funding and though there is huge potential for economic growth through foreign direct investment, we need to focus on local investors first and mobilize that money on priority.” Maheen Rehman CEO InfraZamin emphasized importance of infrastructure development. She said that as country of 220 million people, we should be spending 10 percent of our GDP for developing infrastructure on an annual basis, whereas our current spending is less than 2 percent. She highlighted need for rigorous development in areas of education, health and agriculture.

Layth Al-Falaki CEO GuarantCo said, “Development now is ‘climate resilience’ and Pakistan being frontline state for climate crisis needs to inbuild SDGs into its vision. Now is right time to invest in climate-resilient projects to rebuild infrastructure in country.” Corroborating on same, Jo Moir, Development Director Foreign Commonwealth and Development Office in British High Commission Islamabad, stated, “Due to Pakistan’s severe climate vulnerability, we believe in not only providing right infrastructure for climate resilience but also assisting in transition to decarbonisation.”

Governor State Bank Pakistan Jameel Ahmad said tangent of Green Economy by elaborating on sustainable initiatives of State Bank. “On behalf of SBP, I assure you that we will continue to promote sustainable infrastructure financing and facilitate the financial institutions.” Talking about disastrous floods in Pakistan, Ahmad highlighted that country needs $ 16 billion to overcome devastation. Besides post-flood rehabilitation and development, country also needs economic feasibility for health, food, water, and agriculture. He expounded that investment opportunities in Pakistan are very limited, whereas need for investment is much more. Measures to promote a climate-resilient economy will be game changers and he was happy to note that many banks had already initiated green banking guidelines.

Layth Al-Falaki, CEO GuarantCo, said, “At PIDG, we walk talk and that sets us apart because we start with risk appetite. We support private sector in fragile countries affected by crisis and conflict.”

Published in The Daily National Courier, March, 15 2023

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