Turkey Requests Opening of Banks in Islamabad, Karachi, Lahore
Islamabad : Special Assistant to the Prime Minister on Industries & Production, Haroon Akhtar Khan, held an important meeting with a high-level Turkish business delegation. The meeting was attended by the CEO Pakistan Industrial Development Corporation (PIDC), CEO SMEDA, CEO Engineering Development Board (EDB), along with senior public and private-sector representatives.
The agenda focused on Pakistan–Turkey joint ventures, investment opportunities, and facilitation measures for Turkish investors in key industrial sectors.
SAPM Haroon Akhtar Khan highlighted Prime Minister Shehbaz Sharif’s vision of strengthening ties with brotherly nations, noting that the current Pakistan–Turkiye trade volume stands at USD 1 billion, with the potential to reach USD 5 billion.
The Turkish delegation expressed strong interest in expanding their business footprint in Pakistan, stating that leading Turkish textile brands, including LC Waikiki, are looking to enter the Pakistani market.
The delegation also requested support for opening Turkish banks in Islamabad, Karachi, and Lahore to facilitate smoother bilateral trade and investment flows.
Assuring full cooperation, Haroon Akhtar Khan said that the Government of Pakistan will ensure banking facilitation, including letters of credit (LCs) and other financial channels, to support Turkish investors. He added that Pakistan is introducing regulatory reforms aimed at improving the ease of doing business and creating an investor-friendly environment.
The Turkish delegation also conveyed interest in accelerating efforts to operationalize the Istanbul–Tehran–Islamabad (ITI) trade corridor, which is expected to significantly boost regional connectivity.
SAPM Haroon Akhtar Khan briefed the participants on Pakistan’s Land Lease Policy, explaining that it provides substantial support to investors looking to set up industries. He further noted that the National Industrial Policy, prepared under the directives of Prime Minister Shehbaz Sharif, includes comprehensive facilitation measures for both local and foreign investors.
To support Turkish investment, the Government has also established a special facilitation committee, he added.
Both sides agreed on enhancing cooperation across multiple sectors and working on joint projects to strengthen economic relations between Pakistan and Turkey.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
