KARACHI: InfraZamin Pakistan Limited, first-of-its-kind facility providing local currency guarantee solutions for infrastructure finance in Pakistan, marked commencement of its operations in Pakistan at an event held here at a local hotel.
The event was hosted by Mr Allard Nooy, Chairman InfraZamin and CEO InfraCo Asia; Dr Shamshad Akhtar, Chairperson Karandaaz Pakistan; and Ms. Maheen Rahman, CEO InfraZamin.
The event was graced by Chief Guest Mr Shaukat Tarin, Federal Minister for Finance and Revenue, who addressed the gathering virtually. Included in the Guests of Honour were Mr Aamir Khan, Chairman Securities and Exchange Commission of Pakistan (SECP); Mr Mike Nithavrianakis, British Deputy High Commissioner Karachi and Trade Director Pakistan; Mr Farrukh Sabzwari and Ms Sadia Khan, SECP Commissioners; and Ms Sima Kamil, Deputy Governor State Bank of Pakistan. The event was well attended by key stakeholders in Pakistan’s infrastructure financing sector including government dignitaries, finance, and corporate leaders.
Speaking at the event, the Federal Minister for Finance and Revenue Shaukat Tarin said, “I’m thankful to the Private infrastructure Group and Karandaaz for sponsoring InfraZamin, which is first of its kind credit enhancement facility for infrastructure related instruments in Pakistan. Pakistan debt market is improving in terms of depth, breadth and liquidity.
The innovation that InfraZamin is bringing will play a crucial role in facilitating the credit markets in Pakistan.”
Aamir Khan, Chairman SECP, congratulated InfraZamin Pakistan on formal launch of its operations and stated that “SECP expects to address 3 specific objectives i.e. increasing the contribution of local players towards funding infrastructure projects and deepening of institutional investor base; developing local debt capital market; and supporting infrastructure developments through PPP structures.”
Maheen Rahman, CEO InfraZamin said “We are convinced of Pakistan’s viability as an infrastructure development destination. InfraZamin is not a magic pill which aims to fix infrastructure related issues. It is founded on the firm principles that market failures need to be addressed via market-based solutions that make commercial and economic sense for all stakeholders.”
