Federal Minister for Finance and Revenue Muhammad Aurangzeb, in his meetings with officials of Saudi Arabia and United Kingdom (UK), pitched Pakistan as a viable investment destination.
As per a press statement released by the Ministry of Finance, Aurangzeb, currently in Washington attending World Bank-IMF Spring meetings being held from April 15 to 20, met with Sultan Abdulrahman Al-Marshad, the CEO for Saudi Fund for Development (SFD).
The finance minister briefed Al-Marshad about his recent visit to Saudi Arabia and that of the Saudi delegation to Pakistan during this week.
“Expressed satisfaction with the progress of ongoing projects. Discussed the funding of Diamir Bhasha dam and N-25 from Karachi to Chaman,” read the statement.
As per the Ministry of Finance, Aurangzeb informed that Pakistan would pitch bankable and investable projects to Saudi investors.
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In a separate meeting, with Andrew Mitchell, UK’s Minister of State for Development and Africa, Aurangzeb acknowledged a long-term partnership between Pakistan and UK in the areas of education, health, and financial sector.
The finance minister briefed the UK’s official on the favourable economic indicators of Pakistan and priority areas of taxation, energy sector, and reforms in state-owned enterprises.
He emphasised the need to work closely with provinces on the issues of taxation and primary surplus.
Aurangzeb invited British International Investment (BII) to invest in bankable projects in Pakistan and thanked the UK Minister for planning a visit to Pakistan in August 2024.
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Moreover, Aurangzeb met with Citibank officials, briefing them on the positive economic indicators including “rising stock market, renewed interest of foreign buyers and institutional flows on the back of Stand-by Arrangement (SBA) signed with International Monetary Fund (IMF)”.
Aurangzeb told Citibank officials that Pakistan had successfully repaid the Eurobond on time. He shared that the government had initiated discussion with IMF on a larger and extended programme.
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