Pakistan’s economy has potential to grow by 7%, says Standard Chartered group CEO

KARACHI: Standard Chartered Group Chief Executive Bill Winters said on Thursday that Pakistan has become an ideal choice for foreign investors because of developments in the last three years.

In a meeting with journalists, Winters said that the country has seen notable development in the energy sector and that the security situation has also significantly improved.

He also that foreign investors’ interest in the country will increase on the successful holding of elections in Pakistan. While most international finance institutions expect Pakistan’s economy to grow by 5% going forward, Winters think it has the potential to grow by 7%.

Standard Chartered CEO Shazad Dada also expressed optimism about the country’s economic environment, saying that democracy gaining ground in the country is a positive sign. He said that the China-Pakistan Economic Corridor has brought hope to the country. Dada said that a uniform economic agenda is important to attract further foreign investment.