USAID's Pakistan Private Investment Initiative Makes First Investment

USAID's Pakistan Private Investment Initiative makes first investment

KARACHI, Dec 9 (UrduPoint / Pakistan Point News - 09th Dec, 2016 ) : The Baltoro Growth Fund, one of three funds created under the United States Agency for International Development's Pakistan Private Investment Initiative (PPII), announced an investment in AGP Limited, a Pakistani pharmaceutical manufacturing company.

This investment is the first under PPII and will advance the program's goal of supporting access to capital for key sectors of Pakistan's economy, said a statement here Friday. Through Baltoro's investment, AGP Limited will have access to the financial and operating resources necessary to expand the company's growth, along with significant cost-saving opportunities that will enhance the accessibility, affordability, and sustainability of pharmaceuticals in Pakistan.

Investments in the pharmaceutical industry have the potential to spur significant development. The average annual pharmaceutical expenditure per capita in Pakistan is $36, well below the global average of $1,061.

As a consequence, investments in the industry are poised to produce promising financial returns for investors while also providing greater access to healthcare for ordinary Pakistanis. Baltoro's investment will also spur new job growth.

The pharmaceutical industry currently employs over 100,000 people in Pakistan. This investment in AGP Limited is expected to facilitate the creation of new jobs as the company expands.