WASHINGTON – Federal Finance Minister Senator Muhammad Aurangzeb has briefed his Saudi counterpart on the progress of Pakistan’s privatization initiative, particularly concerning the Pakistan International Airlines (PIA) and major airports.
Aurangzeb held a key meeting with Saudi Finance Minister Mohammed Al-Jadaan during his recent visit to the United States. The meeting focused on expanding bilateral economic ties, boosting investment, and ongoing privatization efforts in Pakistan.
During the discussion, the Pakistani minister emphasized the government’s commitment to opening up the economy and encouraging private sector investment.
The two officials also discussed the vital role of international financial institutions, particularly the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), in facilitating foreign investments in Pakistan.
Aurangzeb expressed a strong desire for Saudi financial cooperation in infrastructure development projects across Pakistan.
In response, the Saudi finance minister gave a positive assurance regarding future support.
The Pakistani finance minister reaffirmed the government’s commitment to the ongoing IMF-backed economic reform agenda, stressing that serious steps are being taken to ensure macroeconomic stability and long-term sustainability.
Both sides agreed that Pakistan-Saudi relations go beyond traditional friendship, identifying strategic economic partnership as a key area for expansion in the coming years.
