KARACHI

The Pak Banker - - COMPANIES/BOSS -

Bill Win­ters, Group Chief Ex­ec­u­tive, Stan­dard Char­tered Bank re­cently met Prime Min­is­ter Mian Muham­mad Nawaz Sharif and his del­e­ga­tion, at Davos. They dis­cussed the Bank's com­mit­ment to Pak­istan and its lead­ing role in the eco­nomic de­vel­op­ment of the coun­try. The Chief Ex­ec­u­tive of Stan­dard Char­tered Group said the Bank had an over­whelm­ingly pos­i­tive view of Pak­istan's econ­omy where in­vest­ment and cap­i­tal con­tin­ued to grow. He said Stan­dard Char­tered Pak­istan was one of the big­gest con­duits in the coun­try for over­seas cap­i­tal and that the Bank was look­ing to dou­ble its busi­ness in the coun­try.

The Prime Min­is­ter ac­knowl­edged the pri­vate sec­tor's con­tri­bu­tion to the growth of the na­tional econ­omy. He said for­eign ex­change re­serves were at their high­est level and were in­creas­ing at a fast pace. This he said was due to the con­fi­dence of in­vestors and the ro­bust econ­omy. The Prime Min­is­ter said China-Pak­istan Eco­nomic Cor­ri­dor (CPEC) would bring an eco­nomic rev­o­lu­tion to the en­tire re­gion.

Bill Win­ters hoped that CPEC would at­tract the bank­ing sec­tor. He said with the ini­ti­a­tion of the se­cond phase of the pro­ject a num­ber of in­dus­trial and eco­nomic zones would be es­tab­lished. They also dis­cussed Stan­dard Char­tered's con­tri­bu­tion to the coun­try in bring­ing in Con­sumer Fi­nance prod­ucts, mort­gage prod­ucts, man­power de­vel­op­ment, correspondent bank­ing and in­ter­na­tional trade.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.