COAS held discussion with Saudi Prince MBS on investment in Pakistan, confirms PM

COAS held discussion with Saudi Prince MBS on investment in Pakistan, confirms PM

Caretaker Prime Minister Anwaarul Haq Kakar expressed the Pakistani government's optimism regarding potential investments from Saudi Arabia. This positive outlook stems from discussions between Crown Prince Mohammad Bin Salman of Saudi Arabia and Pakistan's Chief of Army Staff.

During an interview with a private news channel, Caretaker PM Kakar disclosed that the government was actively planning a visit by the Saudi Crown Prince. The purpose of this visit would be to fully tap into the economic opportunities present in Pakistan.

Furthermore, the prime minister revealed that a task force, under the leadership of the finance minister, had been established to assess the sizes of both federal and provincial governments. This task force would also explore avenues to manage pension funds more effectively and seek ways to rationalize public expenditure while increasing revenue.

Caretaker PM Kakar stressed the importance of this effort, emphasizing the need to streamline expenditure and enhance government revenue to establish a more stable state and mitigate existential threats resulting from economic vulnerabilities.

In addition to fiscal reforms, the Special Investment Facilitation Council (SIFC) was actively working to improve governance and address historical issues of mismanagement.

The prime minister noted that civil institutions had previously been lax in their operations, but the organizational strength of the army leadership had instilled renewed confidence in the civil service, energizing them to implement policies and attain national objectives.

Lastly, Caretaker PM Kakar disclosed promising developments in the energy and mineral sectors. A Pakistani consortium of oil companies was engaged in negotiations with Saudi oil company Aramco to establish an oil refinery in Pakistan.

Furthermore, the United Arab Emirates had expressed a keen interest in exploring mineral resources within Pakistan's territory. These potential investments and collaborations could significantly contribute to Pakistan's economic growth and development