Pakistan Discusses Economic Growth, Investment With Saudi Finance Minister at WEF
SWITZERLAND: Pakistan’s Finance Minister Mohammad Aurangzeb on Monday held a key meeting with his Saudi counterpart, Mohammed Al-Jadaan, on the sidelines of the World Economic Forum, focusing on strengthening economic partnership and investment opportunities between the two countries.
During the discussion, both ministers emphasized the importance of enhancing bilateral economic cooperation, particularly in sectors such as minerals, agriculture, and manufacturing. The Saudi minister expressed satisfaction with Pakistan’s recent economic improvements, while Aurangzeb highlighted that the country is on a path of stability and growth.
Minister Aurangzeb noted that Pakistan’s foreign exchange reserves have improved, providing a three-month coverage for imports, and that investor confidence is returning, with 16 initial public offerings currently under consideration. Over 120,000 new investors have entered the capital market, he added.
The finance minister also shared that Pakistan’s economic growth reached 3.7 percent in the first quarter of the current fiscal year, with remittances expected to surpass $41 billion. The meeting underscored ongoing privatization efforts, including work on airports and electricity companies, and Aurangzeb stressed the importance of leveraging Saudi Arabia’s expertise in privatization processes.
The discussions reinforced the commitment of both countries to deepening economic collaboration and exploring further investment opportunities to support sustainable growth in Pakistan.
