Finance Minister Muhammad Aurangzeb announced new policy measures on Thursday aimed at strengthening Pakistan’s investment environment and attracting foreign investors, according to Radio Pakistan.
The finance minister chaired a review meeting in Islamabad with representatives from consortium investment companies including Pak-Brunei Investment Company Limited and Saudi-Pak Industrial and Agricultural Investment Company.
The discussion focused on strengthening a supportive environment for private sector investment and highlighted the important role these ventures play in promoting economic growth.
Aurangzeb emphasized the government’s commitment to improve the investment climate in Pakistan. This comes as the South Asian nation seeks to secure a $7 billion bailout from the International Monetary Fund (IMF) and faces ongoing security issues.
During the meeting, the Managing Director of Pak-Brunei Investment Company Limited presented an overview of the company’s contributions in enhancing economic cooperation between Pakistan and Brunei, particularly in the industrial and agricultural sectors.
The CEO of Saudi-Pak Industrial and Agricultural Investment Company also outlined the company’s development initiatives, which focus on Islamic finance, food security, digital finance and agriculture.
The discussion covered various operational aspects of these companies, including investment strategies, performance metrics and challenges they face.
Both companies shared their successes and obstacles, seeking policy support to address barriers to growth and exploring future investment opportunities through government-to-government partnerships.
Aurangzeb praised Saudi Arabia’s strategic implementation of Vision 2030 and expressed Pakistan’s interest in adopting similar strategies to achieve its economic goals.
He actively engages with foreign banks and companies, including recent meetings with Dubai Islamic Bank and Mashreq Bank, to explore investment opportunities and discuss the country’s economic outlook.
The government is also negotiating with Saudi Arabia, the United Arab Emirates and China to meet its financial needs under the IMF program.
While previous support from these allies and IMF funding helped address external financing requirements, the IMF’s recent tough conditions, such as increased agricultural taxes and higher electricity prices, have raised concerns about their impact on poor and middle class of Pakistan.
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