Pakistan to engage international consulting firms in effort to expand foreign investments 

ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif said on Friday his government would consult internationally renowned consulting firms in order to expand foreign investments as the South Asian nation navigates numerous challenges to shore up an uneven economic recovery.
The Sharif-led government has been making a concerted push in recent months to seek foreign investments, with a flurry of visits, including to Saudi Arabia, UAE and China. Last week, Pakistan signed dozens of memorandum of understanding with China during a visit by Sharif. 
“Investment agreements with friendly countries of the country should be completed in consultation with internationally renowned firms,” Sharif said at a meeting with a delegation led by Dr. Reza Baqir, a former governor of the Pakistan central bank, who is currently managing director and practice leader of sovereign advisory services at Alvarez & Marsal.
Alvarez & Marsal is a global professional services firm notable for its work in turnaround management and performance improvement of a number of large, high-profile businesses both in the US and abroad such as Lehman Brothers, HealthSouth, Tribune Company, Warnaco, Interstate Bakeries, Target, Darden Restaurants and Arthur Andersen.
A statement released by Sharif’s office said the delegation led by Dr. Baqir presented suggestions regarding the expansion of international investment in Pakistan.
“In order to reduce the size of the government and make the government system effective, consult with world-renowned firms,” Sharif was quoted as saying in the statement. “Private sector has a key role in the development of national economy.”
Last month, Pakistan signed an agreement with global consulting giant McKinsey and Company for the digitalization of its tax system as the South Asian nation strives to deliver reforms amid talks with the International Monetary Fund for a new bailout loan.