The Saudi minister describes Pakistan as a

The Saudi minister describes Pakistan as a "favorable" destination for investments.

Finance Minister Aurangzeb reaffirms the government's determination to support traders and investors as the Pakistan-Saudi investment conference kicks off in Islamabad. The conference, initiated following discussions between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad Bin Salman to enhance bilateral trade and investment, aims to bolster the country's economy amid ongoing financial challenges.

Saudi Arabia's Deputy Investment Minister Ibrahim Almubarak, leading a 50-member high-level delegation, described Pakistan as a "suitable country for investments" during the event. He emphasized Saudi companies' recognition of Pakistan's investment potential and highlighted the delegation's visit as an opportunity to strengthen trade relations between the two nations.

Minister Aurangzeb, in his address, reiterated the government's commitment to facilitate the private sector in driving export-led growth. He emphasized the focus on attracting foreign direct investment to uplift various sectors, stressing that the government's role is to provide a conducive policy framework while the private sector takes the lead.

Providing an overview of the country's economic situation, Aurangzeb expressed optimism about positive growth trajectories, citing a 5% increase in agriculture GDP and a stable local currency. He projected a reduction in the current account deficit and highlighted increased foreign exchange reserves and foreign investment in the Pakistan Stock Market.

Aurangzeb also discussed Pakistan's engagement with the IMF for macroeconomic stability and structural reforms, indicating ongoing discussions for a new program. He assured acceleration of the privatization process and reiterated the government's commitment to economic stability policies.

Minister for Petroleum Musadik Masood Malik emphasized collaboration between the private sectors of Pakistan and Saudi Arabia for economic diversification and value addition. He highlighted opportunities for cooperation in sectors such as mines and minerals, tourism, agriculture, and infrastructure development, aiming for mutual prosperity.

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