ISLAMABAD, Pakistan: The Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has reaffirmed Pakistan’s commitment to a homegrown economic agenda centered on comprehensive institutional reforms across key sectors of the economy.
In a meeting with the Ambassador of the Kingdom of Saudi Arabia His Excellency Nawaf Bin Said Al-Malki who called on him at the Finance Division in Islamabad on Wednesday, the finance minister emphasized that structural reforms are pivotal for ensuring sustainable economic growth and stability, forming a cornerstone of the government’s policy agenda.
Senator Aurangzeb expressed deep appreciation for the Kingdom of Saudi Arabia’s consistent economic support to Pakistan, while highlighting the renewed interest shown by Saudi investors in pursuing joint ventures and business collaborations with Pakistan’s private sector.
The finance minister also recalled his productive meetings with the Finance Minister of Saudi Arabia His Excellency Mohammad Al-Jadaan CEO of the Saudi Fund for Development (SFD) and Sultan Abdulrahman Al-Marshad during his visit to Washington in April 2024.
The minister further noted the significant outcomes of the high-level business delegation’s visit from Saudi Arabia to Pakistan in May, aimed at exploring investment opportunities, expanding bilateral cooperation, and scaling up partnerships across diverse sectors.
During the discussion, Senator Aurangzeb outlined Pakistan’s positive economic trajectory, citing key indicators such as currency stabilization, reduced inflation, a surge in remittances, prudent management of the current account deficit, and foreign exchange reserves sufficient to cover two months of imports.
His Excellency Nawaf Bin Said Al-Malki commended the government of Pakistan’s efforts in implementing structural and institutional reforms and reiterated the Kingdom’s unwavering commitment to contributing to Pakistan’s economic growth.
The Saudi ambassador also acknowledged the immense potential for investment and business opportunities between the two countries.
The envoy indicated that a Saudi business delegation is expected to visit Pakistan in the coming months to further explore areas for joint ventures and collaborative investments.
