Aurangzeb, representatives of JV investment cos hold talks

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Thursday chaired a review meeting with representatives from Joint Venture Investment Companies, including Pak-Brunei Investment Company Limited (PBICL) and Saudi-Pak Industrial and Agricultural Investment Company (SPI&AIC).

The meeting centred on evaluating the progress, challenges, and future directions of these companies, said a press release issued here on Monday. The meeting was attended by senior leadership from both companies, including Dk Noor ul Hayati Binti Pg Julaihi, Chairman PBICL, Sultan M. Hassan Abdulrauf, Chairman SPI&AIC, and senior officers from the Finance Division.

CEO Pak-Brunei Investment Company Limited (PBICL) gave a brief overview of the portfolio of the company and its major initiatives in Pakistan.

He apprised the Minister about the role played by PBCIL in promoting economic cooperation between Pakistan and Brunei by facilitating investments in Industry and Agricultural sectors, through financial services, real estate, and SME’s support, and how it has contributed to significant advancements in these areas, fostering bilateral trade and economic stability.

Similarly, the CEO of Saudi-Pak Industrial and Agricultural Investment Company (SPI&AIC), also gave a presentation about the major development initiatives of the company in the country for promoting Islamic finance, food security, digital finance, trade, and agriculture and livestock.

The meeting also discussed various aspects of the operations of these companies, including investment strategies, performance metrics, and key impediments affecting their growth. Both companies presented their achievements and challenges, highlighting areas that require policy support to overcome obstacles in their operational landscape.

The discussion also focused on potential areas for future investments and collaborations through more Government-to-Government initiatives in order to support priority sectors.

The Finance Minister appreciated both companies and specifically applauded the implementation strategies of KSA’s Vision 2030 for achieving their targets within a few years, and stressed that Pakistan is keen on learning those strategies.