Prime Minister Shehbaz Sharif held meetings with senior officials of major global financial institutions in London, including Barclays, JPMorgan, Citi, BlackRock and Rothschild & Co., as part of efforts to attract foreign investment and strengthen Pakistan’s engagement with international financial markets.
Earlier, Shehbaz became the first Pakistani prime minister to open the trading session at the London Stock Exchange (LSE), according to the Prime Minister’s Office (PMO).
The PMO said the meetings reflected growing interest from international financial institutions in Pakistan’s economic reforms and improving investment environment.
During a meeting with a JPMorgan delegation led by its co-CEO for Europe, Middle East and Africa, Matthieu Wiltz, the prime minister invited the bank to expand its operations in Pakistan. Discussions focused on strengthening cooperation in capital markets, trade finance and investment banking.
According to the PMO, JPMorgan reaffirmed its interest in Pakistan’s sovereign debt capital markets and corporate banking opportunities.
Shehbaz also met Mohammad Kamal Syed, head of Private Bank and Wealth Management UK at Barclays, and briefed him on the government’s macroeconomic stabilisation measures. He encouraged Barclays to explore opportunities in Pakistan’s financial sector.
In a meeting with Rothschild & Co., represented by Chair of Geostrategic Advisory Lord Mark Sedwill and Head of UK Investment Banking Majid Ishaq, discussions focused on Pakistan’s geo-economic priorities and potential cooperation in capital markets and investment strategy.
The prime minister also met senior Citi officials led by Chief Client Officer David Livingstone and called for an expansion of the bank’s corporate and institutional banking services in Pakistan. He also acknowledged Citi’s longstanding presence in the country.
During his meeting with a BlackRock delegation, Shehbaz invited the global investment firm to increase allocations to Pakistani equities and fixed-income assets under its frontier markets strategy.
The delegation included the co-heads of Emerging Markets and Frontiers, Gordon Fraser and Sam Vecht, as well as Portfolio Manager and Research Analyst Emily Fletcher.
The PMO said executives from the financial institutions expressed confidence in Pakistan’s economic reform process and reaffirmed their commitment to expanding engagement with the country’s financial sector.
Finance Minister Muhammad Aurangzeb and Adviser to the Prime Minister on Privatisation Muhammad Ali, who also heads the Privatisation Commission, attended the meetings.
Earlier, Shehbaz formally opened the London Stock Exchange trading session at its headquarters in Paternoster Square, becoming the first Pakistani prime minister to perform the ceremony.
He also formally inaugurated Pakistan’s $3 billion dual-tranche sovereign Eurobond, which was issued earlier this month.
London Stock Exchange Group Chief Executive Officer David Schwimmer and senior officials welcomed the prime minister at the ceremony. Finance Minister Muhammad Aurangzeb, Muhammad Ali, Pakistan High Commissioner Tipu Usman, members of the Pakistani delegation and relevant British officials also attended.
Addressing the gathering, Shehbaz said Pakistan had worked to strengthen its economy in recent years and described improvements in macroeconomic indicators as encouraging for the country’s future.
He praised Finance Minister Aurangzeb and his team for arranging the Eurobond transaction, saying the development demonstrated the government’s efforts to improve Pakistan’s access to international financial markets.
The prime minister also discussed the impact of regional instability on investment decisions and highlighted Pakistan’s role in diplomatic efforts concerning the conflict between the United States and Iran.
Shehbaz said changing regional conditions had created a need to reassess investment opportunities and argued that Pakistan could offer opportunities for foreign investors.
He welcomed the opportunity to open the LSE trading session, describing it as a step towards strengthening Pakistan’s relationship with the exchange.
The prime minister also sought guidance from LSEG leadership on expanding Pakistan’s engagement with international financial markets, including sovereign debt and private investment opportunities.
Separately, Finance Minister Muhammad Aurangzeb met Standard Chartered Bank CEO Bill Winters in London, according to the finance ministry.
Aurangzeb appreciated the bank’s continued support for Pakistan and cooperation in financing and capital-market transactions.
The two sides discussed Pakistan’s ongoing structural reforms, recent macroeconomic developments and potential areas of future cooperation, including tokenisation, international Sukuk and other financing opportunities.
The finance ministry said Standard Chartered’s investor network across Europe, the Middle East and Asia could support Pakistan’s efforts to engage international investors and improve market visibility.
The meeting also covered potential capital-market transactions linked to the government’s privatisation programme, including opportunities on both the buy-side and sell-side.
Adviser to the Prime Minister on Privatisation Muhammad Ali and Adviser to the Finance Minister Omer Khan also attended the meeting.
