ISLAMABAD: Pakistan’s Finance Minister Senator Muhammad Aurangzeb has that foreign investment played a pivotal role in ‘Macro Economic Stability’ in Pakistan adding that the visit of Saudi investors to Pakistan is a link in this chain.
The Finance Minister said this while addressing to Pakistan-Saudi Arab Investment Conference, 2024 held here in Islamabad on Monday adding that short, medium and long-term strategies are being on board to move for Macro Economic Stability in the country which he said would further flourish economy of the country.
Muhammad Aurangzeb further said that the current government was working on structural economic reforms with a special focus on the ongoing energy reforms which would be crucial for the economic revival.
Finance Minister on Recent Economic Indicators
The minister apprised that most of the economic indicators were going positive adding that the agriculture sector was growing by 5 percent having bumper crops including wheat and rice this year.
The minister also mentioned the positive current account surplus adding that the Federal Board of Revenue has managed to collect the record federal revenue this year.
He informed that the inflation went down to 17 percent which was positive news for the economy.
The minister also highlighted the recent engagement of Prime Minister Shahbaz Sharif for the economic revival on the sideline of the World Economic Forum, and a successful visit of the Prime Minister to Saudi Arabia, which he said opened scores of avenues for economic cooperation between the two brotherly nations.
He said that the visit of a delegation of Saudi investors to Pakistan was another optimistic news for both sides particularly Pakistan.
Privatization and PIA
Talking about the expected privatization of Pakistan International Airline (PIA), the minister said that the government was moving in the right direction and the process would be finalized soon.
He said that export-led growth, Foreign Direct Investment (FDI) and excess capital are the priority of the government.
Saudi Minister on Pak-Saudi Ties
On this occasion, Saudi Assistant Minister of Investment Ibrahim Al Mubarak said that Saudi Arabia and Pakistan always helped each other in development adding that Saudi companies would always be ready to invest in Pakistan.
He remarked that fortunate Pakistan has a lot of resources and potential whereas investors from Saudi Arabia would leave no stone unturned to assist Pakistan in the process of development.
