ISLAMABAD: Minister for Finance and Revenue Senator Muhammad Aurangzeb on Friday met a group of leading United Arab Emirates (UAE) investors and businessmen and highlighted the country’s economic reforms and investment opportunities.
The delegation was led by Mohamed Baradei, Group CIO of EIX, an Abu Dhabi-based global company specializing in investment and strategic advisory services, said a news release.
Welcoming the delegation, the minister expressed appreciation for their visit to Pakistan and hoped that their interactions with government leaders, private sector representatives, and local investors had provided them with valuable insights into the country’s investment potential.
Aurangzeb briefed the delegation on the state of Pakistan’s economy and the structural reforms undertaken over the past one and a half years, emphasizing that progress across all macroeconomic indicators was moving in a positive direction.
He highlighted the achievement of a primary surplus after many years, the return of inflation to single digits, currency stability, robust foreign exchange reserves, and improved assessments of Pakistan’s economy by leading international rating agencies.
Exports and remittances were described as healthy, while the Karachi Stock Exchange has seen record activity, with more than 70,000 new investors entering the market, reflecting growing confidence among domestic and foreign investors.
He underscored the government’s commitment to addressing investor concerns, noting that taxation reforms, tariff rationalization, privatization of state-owned enterprises, and other structural measures were aimed at fundamentally transforming the economy.
Aurangzeb informed the investors about opportunities in the mining sector, especially the Reko Diq project, expected to strengthen Pakistan’s external sector through sustainable foreign inflows.
He also shared updates on the upcoming Industrial Policy, which will provide a roadmap for improving the investment climate, and highlighted initiatives such as tariff reforms, digital policy, and export promotion policy as signals of future reforms.
The minister spoke about efforts to broaden the tax base by bringing services, wholesale, retail, and agriculture into the net, while working to reduce energy and financing costs for businesses.
He pointed to ongoing privatization efforts, including major transactions such as Pakistan International Airlines (PIA) and other state assets, which are expected to proceed in the coming weeks and months.
Aurangzeb noted that Pakistan was preparing to tap international capital markets through its first-ever Panda bond, while also planning issuances in Euro and USD markets to strengthen reserves.
Highlighting Pakistan’s vulnerability to climate change, the minister stressed the need for climate adaptation projects and noted that financing from institutions such as the International Monetary Fund (IMF), World Bank, and Asian Development Bank (ADB) was available but required bankable projects.
He said Pakistan’s future growth depended on investment and exports, with foreign investors such as those from the UAE playing a central role alongside domestic businesses. He assured the delegation of full government support in facilitating their investments.
The UAE delegation expressed gratitude for the hospitality and appreciation for their interactions with government and business circles. They praised Pakistan’s economic trajectory, structural reforms, and resilience across key sectors.
They expressed confidence in Pakistan’s potential, citing its infrastructure, demographic advantage, and opportunities for strategic long-term investments. They noted they bring not only capital but also strategic expertise, showing strong interest in being early movers in Pakistan’s reform journey.
The delegation also emphasized that increasing capital and human flows between Pakistan and the UAE would deepen economic ties, noting that both countries were well positioned for mutually beneficial partnerships.
Aurangzeb reaffirmed that Pakistan attaches the highest importance to its economic and investment partnership with the UAE and stands committed to extending full facilitation to UAE investors. He expressed confidence that the momentum generated by this engagement would translate into concrete investments and joint ventures, strengthening economic bonds between the two nations.
