ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday confirmed thatSaudi Arabia’s commitment to invest up to $10 billion in Pakistan remainsfirm and unaffected by recent regional developments.
Speaking to reporters after a high-level meeting, he said both countrieswere deliberately shifting from short-term crisis lending to sustainabletrade and investment-led cooperation.
The assurance comes after the signing of the Pakistan-Saudi ArabiaStrategic Defense Pact in September and the Economic Cooperation Frameworkagreed last month during the Saudi crown prince’s expected visit.
Aurangzeb noted that Riyadh, which traditionally extended central bankdeposits and deferred oil payment facilities during Pakistan’sbalance-of-payments crises, now preferred equity stakes in commerciallyviable projects.
He attributed the renewed Saudi confidence to Pakistan’s markedly improvedmacroeconomic indicators over the past eighteen months.
Inflation has fallen sharply from a peak of 38 per cent in May 2023 tosingle digits, the Pakistani rupee has stabilised, and foreign exchangereserves have risen to comfortable levels.
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International rating agencies Fitch and Moody’s have upgraded Pakistan’scredit outlook, citing enhanced external liquidity and greater policydiscipline under the IMF programme.
The finance minister said several Saudi delegations were already conductingdue diligence on refinery upgrades, mining, renewable energy, andagriculture projects.
He expressed hope that concrete investment announcements would materialiseduring the next joint ministerial commission meeting scheduled for early2026.
Source: www.dawn.com/news/1995284″>https://www.dawn.com/news/1995284Source: www.thenews.com.pk/latest/1245837″>https://www.thenews.com.pk/latest/1245837
