Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, apprised his Saudi counterpart of the ongoing privatisation process of Pakistan International Airlines (PIA) and key airports, underscoring the government’s resolve to attract strategic investments through transparency and efficiency, according to a statement issued by the Ministry of Finance.
He called on the Finance Minister of the Kingdom of Saudi Arabia, Mohammed Al-Jadaan, on the sidelines of the IMF–World Bank Annual Meetings in Washington, D.C. During the meeting, both sides reviewed the growing trade and investment relations between Pakistan and Saudi Arabia.
Pakistan’s finance minister reaffirmed that Pakistan remains steadfast in pursuing economic reforms under the IMF programme to ensure long-term macroeconomic stability.
The two ministers agreed that institutions such as the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) could play a vital role in mobilising private sector investments in Pakistan.
Senator Aurangzeb also sought Saudi support for infrastructure development projects, emphasising Pakistan’s commitment to fostering a deeper economic partnership with the Kingdom.
Finance Minister Aurangzeb also held a key meeting with Azerbaijan’s First Deputy Finance Minister, Anar Karimov, reaffirming strong economic and strategic ties between the two countries.
He congratulated Azerbaijan on successfully hosting COP29 and highlighted the Pakistan-Azerbaijan Preferential Trade Agreement (January 2025) and Transit Trade Agreement (December 2024) as key platforms to diversify bilateral trade beyond oil and rice into textiles, pharmaceuticals, chemicals, machinery, and agricultural products.
