Pakistan seeks to leverage London as a global financial hub

Pakistan plans to leverage London’s status as a global financial hub to expand access to international capital markets and attract foreign investment. The development came during a meeting between Pakistan’s newly appointed High Commissioner to the United Kingdom, Tipu Usman, and Finance Minister Muhammad Aurangzeb on Thursday, which was held to discuss matters of mutual economic interest and explore avenues for further strengthening Pakistan-UK economic and financial cooperation, read an official statement. The meeting reviewed opportunities to expand cooperation in trade, investment, banking, remittances, capital markets, and financial services. “Discussions also focused on strengthening Pakistan’s engagement with international investors and financial institutions, while leveraging London’s position as a leading global financial centre to support Pakistan’s financing and capital market objectives,” read the statement. The finance minister highlighted the government’s ongoing efforts to diversify financing sources, deepen Pakistan’s access to international capital markets, and strengthen the country’s financial architecture. The two sides also exchanged views on developments in digital finance, blockchain-based financial solutions, virtual assets, and emerging instruments such as tokenisation as part of Pakistan’s broader digital transformation agenda. The meeting also discussed avenues for enhancing cooperation in debt management and capital market development, including continued engagement with the United Kingdom Debt Management Office. The high commissioner briefed the finance minister on prospects for engaging institutional investors and facilitating future investment roadshows in coordination with leading financial institutions. Aurangzeb underscored the important role of the Pakistani diaspora in the United Kingdom in strengthening economic linkages between the two countries, particularly through remittances and the Roshan Digital Account, investment, and commercial engagements. He also emphasised the importance of continued collaboration with UK-based financial institutions and the private sector to further promote bilateral economic and financial ties. Aurangzeb reaffirmed the government’s commitment to maintaining macroeconomic stability, strengthening fiscal discipline, improving the ease of doing business, and creating an enabling environment for investment and private sector-led growth. Both sides agreed to remain closely engaged to advance areas of mutual interest and further strengthen Pakistan-UK economic cooperation.