Prime Minister Nawaz Sharif said that Pakistan is now on track for sustainable growth and is “ready to do business with the world” at a private dinner for business leaders hosted by the Abraaj Group in Davos on Wednesday.

The business leaders had gathered in Davos for the 47th Annual Meeting of the World Economic Forum.

“I invite you to take benefit of the economic revival of Pakistan and enjoy the first mover’s advantage,” PM Nawaz told his audience.

Nawaz Sharif said his government is working to ensure rule of law in the country while strengthening democratic institutions and making them more relevant in all aspects of governance.

He noted that attending the World Economic Forum is a great opportunity to meet global thinkers, policymakers and business leaders who shape the future of millions of people.

Commenting on the importance of peace and stability, PM Sharif remarked that development would remain an elusive dream and stressed the need for collaboration and cooperation to meet global challenges.

“Without inclusion and partnerships, we cannot make any headway," PM Nawaz said.

"This is the approach I believe we need to take at the global, regional and national levels in order to not only solve our problems, but also to create an environment in which the world economy can rejuvenate and revive,” he added.

He recalled that since assuming office in 2013, his government had effectively tackled the challenges of severe energy shortages, inflationary pressures, exchange rate volatility and a precarious security environment.

“Today, our government has managed to stabilise the economy despite unfavourable global economic conditions. We first set out to improve the macro-economic outlook and sustained our efforts despite strong challenges,” he said.

The prime minister said economic conditions in Pakistan are improving continuously, and from 3 per cent growth in GDP before 2013, it is now projected to achieve 5.5pc GDP growth during the current year.

He said in the last three-and-a-half years, the government had initiated needed reforms aimed at ensuring sustainable economic growth and development.

He mentioned that the government's focus remains on technology, energy, modern infrastructure and a thriving investment climate besides reduction in bank interest rates and exemptions.

PM Sharif also said the government had launched the most successful counter-terrorism operation in the world and dismantled a large network of terrorists in two years.

“Pakistan is an inclusive, tolerant and forward looking society and is as safe as any other place in the world,” he told the businessmen.