Source: Daily Times
ISLAMABAD: The UK-based Innovative Investment Bank would initially invest $15 million which would increase further substantially in future. Its main areas of services would be financial services, wholesale distribution, retail activities, management and development of commercial as well as residential property.
This was informed to caretaker Prime Minister Mohammedmian Soomro here on Wednesday in a meeting with Syed Mehboob Hussain, CEO of Innovative Investment Bank.
Soomro said that the banking industry, which has been transformed into a vibrant private sector enterprise as a result of the market based reforms, is playing an important role in the economic growth of the country.
Pakistan with its growing market, strong economy and emerging middle class offers opportunities for business and investment, he said adding that due to the government policies of deregulation, privatisation and liberalisation, foreign banks are investing in Pakistan. Continuity and consistency in policies, coupled with an investment-friendly and hassle-free environment has made Pakistan a destination of choice for foreign investors, the Prime Minister said. staff report
E-mail this article to a friend
Tags: $15 million, Development, financial services, Innovative Investment Bank, management, retail activities, wholesale distribution
1 response so far ↓
1 oal // Jan 19, 2008 at 4:36 am
“Boosters”–that’s what we call economic development people–put a sunny spin on all they do and touch: would the wealth would spread more evenly, quietly, happily through all the social strata.
Development is a business issue, distribution a sociopolitical one, and it’s pretty clear what happens when gets way out of balance with the other. There’s got to be some programmatic opportunity to “deal in” those who feel less invited to the table.
Leave a Comment