ISLAMABAD: Pakistan’s Petroleum Minister Musadik Malik on Monday urged Pakistani and Saudi Arabian private sectors to collaborate on economic diversification and value addition.
Addressing a Two-Day Pakistan-Saudi Arabia Investment Conference, Malik emphasized the importance of building critical infrastructure to unlock the wealth potential of both nations.
Malik highlighted the issue of food wastage in Pakistan, particularly the 35% of perishable food products lost annually. He proposed leveraging Pakistan’s agricultural assets to meet the food security needs of the Gulf Cooperation Council (GCC), aligning with Saudi Arabia’s aim to become a food corridor for the region.
Malik stressed private sector engagement, especially in food and agriculture, urging investments in downstream activities like food processing and value-added industries such as fruit, juice, cheese, and meat production for global markets.
The conference, Malik said, presented an opportunity for investors to establish relationships and explore collaborations, with Pakistan keen on participating in religious and family tourism. He invited joint ventures for integrated tourism experiences, including luxury hotels and ski resorts in northern Pakistan.
Highlighting the shared economic visions of Pakistan and Saudi Arabia, Malik commended Saudi Arabia’s transformation efforts and aligned them with Prime Minister Shahbaz Sharif’s economic vision. He reiterated Pakistan’s commitment to stability, infrastructure development, and economic diversification, inviting Saudi Arabian private sector investment to foster collaboration and downstream value addition.
