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Today, the country's non-oil sector accounts for about 74 per cent of the total GDP
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Abraaj and BMA launch $300m investment fund
ISLAMABAD — Abraaj Capital, one of the leading private equity firms in the Middle East,
North Africa and South Asian regions and BMA Capital, one of the prominent investment firms in Pakistan's financial markets, have launched the $300 million Abraaj-BMA Buyout Fund L P.
Prime Minister Shaukat Aziz launched the fund hoping that it would facilitate investment of up to $1 billion in Pakistan across a range of industries over the next four years.
Addressing media persons, the prime minister described the launching as a historic occasion while pointing out that this is the largest fund Pakistan will have through private investors. He said the Abraaj-BMA Fund would be raised from investors all over the Middle East. It is a private sector venture where the government has nothing to do except providing an enabling environment to attract investment.
Shaukat Aziz said this is the beginning of a long journey where many other investors will come to Pakistan. He expressed satisfaction that every major name in the Middle East business circles is coming to Pakistan voluntarily. He was confident that the increasing investment would further boost growth, create more job opportunities and contribute towards a stronger and prosperous Pakistan.
The prime minister said Pakistan is an economy of $120 billion and 160 million people. It is growing at 6 to 8 per cent and the government is pursuing second-generation reforms to sustain this rate.
He said this year the economic growth is likely to be 6.6pc and per capita income has substantially increased to $846. He held out an assurance that the government would continue to pursue the policy of liberalisation, deregulation, good governance, transparency and privatisation.
The prime minister said there is great potential for investors to invest in projects including those relating to manufacturing, engineering, infrastructure and others.
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