MIGA team meets MCB Bank chairman

LAHORE: A four-member delegation from the Multilateral Investment Guarantee Agency (MIGA) of the World Bank visited the Head Office of MCB Bank Ltd and met its Chairman Mian Mohammad Mansha to discuss areas of mutual interest and potential opportunities for foreign direct investment.

The delegation was led by Executive Vice President and Chief Executive Officer, MIGA Ms. Keiko Honda who was accompanied by Senior Country Officer IFC Karachi Mr. Moazzam Ahmed, Senior Underwriter Azmat Zuberi and Senior Underwriter Dilawar K. Bajauri.

During the meeting, the delegation discussed different topics of mutual interest, including the need for a robust regulatory framework for the business sector, the potential for cross-border trade with all regional neighbours, economic merits of the China–Pakistan Economic Corridor (CPEC) and mutually beneficial international trade and commerce.

The prevailing energy crisis was also discussed with the delegation appreciating Mr. Mansha’s suggestion of opening the sector to new entrants through additional licenses, which would encourage healthy competition and compel power distribution companies to improve their service delivery and quality, particularly transmission and distribution losses.