Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, expressed his gratitude towards the Kingdom of Saudi Arabia for its ongoing economic support and discussed future collaborations during a meeting with the Saudi Ambassador, His Excellency Nawaf Bin Said Al-Malki. The Minister underscored the importance of structural reforms for sustainable economic growth and stability in Pakistan.
According to Press Information Department, during the meeting at the Finance Division, Senator Aurangzeb highlighted the progress of Pakistan’s economic reform agenda, which emphasizes comprehensive institutional changes across major sectors. He acknowledged the significant role that Saudi Arabia has played in supporting Pakistan’s economic endeavors. The minister appreciated the recent interests from Saudi investors in joint ventures and business partnerships with the Pakistani private sector.
Senator Aurangzeb recalled his recent discussions with key Saudi economic figures, including Finance Minister Mohammad Al-Jadaan and Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, during a trip to Washington in April. He also noted the successful visit of a high-level Saudi business delegation to Pakistan in May, which focused on investment opportunities and strengthening bilateral ties.
The Senator provided an overview of Pakistan’s current economic indicators, such as currency stabilization, decreased inflation, increased remittances, effective management of the current account deficit, and maintaining foreign exchange reserves that cover two months’ worth of imports. These indicators, he mentioned, demonstrate Pakistan’s positive economic trajectory.
His Excellency Nawaf Bin Said Al-Malki praised the Pakistani government’s commitment to its reform agenda and reaffirmed Saudi Arabia’s dedication to assisting Pakistan’s economic growth. The Ambassador also spoke of the potential for further investment and business exchanges between the two nations, revealing that another Saudi business delegation is expected to visit Pakistan soon to explore additional collaborative ventures.