KARACHI: The economic landscape of Sindh took a major positive stride as Sindh Chief Minister Syed Murad Ali Shah hosted Prince Mansour bin Mohammed Al Saud, Chairman of the Saudi-Pak Joint Business Council, and a 30-member distinguished business delegation at the CM House.
Two key memorandums of understanding (MoUs) were signed, marking significant progress in K-Electric’s ownership and future collaboration framework.
The first MoU was signed for the sale and purchase of shares in KES Power Ltd. The second MoU was signed between K-Electric Limited and Trident Energy Ltd to explore strategic cooperation and investment opportunities in Pakistan’s power sector.
IPO oversubscribed: KE concludes issuance of retail listed short-term Sukuk
These MoUs reflect growing international investor confidence in Pakistan’s energy market and a renewed commitment to enhancing power generation, transmission, and distribution infrastructure in the country.
The chief minister reaffirmed his government’s commitment to forging long-term economic cooperation, inviting Saudi investment across key growth sectors, including agriculture, livestock, minerals and mining, infrastructure, energy, and food security.
He highlighted Sindh’s position as the first province in Pakistan with a robust Public-Private Partnership (PPP) model, which has delivered several landmark infrastructure and social-sector projects.
Shah also emphasised both Government-to-Business (G2B) and Business-to-Business (B2B) collaborations as drivers of innovation, efficiency, and technology transfer between enterprises from both countries. Both sides agreed to form joint working groups in priority sectors to ensure targeted and sustainable progress toward mutual goals.
Prince Mansoor bin Mohammad Al Saud expressed appreciation for the hospitality extended by the Sindh government, acknowledging the promising business environment and vast opportunities available in Karachi and broader Sindh. He announced the establishment of sector-specific sub-committees to target investments, signalling a new era in Saudi-Pakistan economic ties.
Prince Mansoor bin Mohammad Al Saud stated, “Our business council is not a new one; we have a longstanding history of bilateral trade.” He added that regarding investment, the Prime Minister of Pakistan visited Saudi Arabia and, as part of that process, he brought his investor delegation.
The prince said that “we would work together to strengthen the economy. Pakistan serves as the gateway for trade across the entire region. Pakistan also holds significant importance from a tourism perspective.”
“We have brought investors from every sector with us, and they are committed to investing here. Pakistan is undertaking privatisation, and we see this as an opportunity for ourselves,” the prince said.
Prince Mansoor further reiterated the commitment to enhancing economic cooperation between the two countries, emphasising mutual benefit and the potential for new partnerships in a range of sectors, including energy, infrastructure, and tourism.
Showcasing Sindh’s Investment Potential: A detailed presentation regarding Sindh’s impressive portfolio of ongoing and future opportunities showcased to the Saudi delegation.
Home to nearly 60 million people, Sindh is a key driver of Pakistan’s GDP, industry, and tax revenue. Its strengths in energy-with vast coal, solar, wind, and gas resources-agriculture, processed foods, logistics, industrial zones, and eco-tourism were highlighted.
Successful PPP projects and proven partnerships with leading international firms, such as the World Bank, ADB, Shanghai Electric, Engro, and McKinsey, were cited as evidence of Sindh’s reliability and investment-friendly climate. Currently, Sindh’s investable portfolio exceeds USD 5 billion, covering sectors including technology, water management, infrastructure, and hospitality.
Important projects introduced include Sindh Engro Coal Mining Company – Pakistan’s first open-pit lignite mine, Sino Sindh Resources Limited-Thar Block-I coal mining project, Nabisar–Vajihar Water Supply Project, NED Technology Park and Tourism enterprises: Hawks Bay Beach Resort and Keenjhar Lake Resort.
The Chief Minister reaffirmed the government’s commitment to simplifying investment procedures, digitising land records, and providing end-to-end support to investors. Close coordination with federal institutions will ensure a business-friendly environment and smooth project execution.
This high-level engagement marks a pivotal step towards strengthening bilateral economic ties, boosting trade, and initiating new joint ventures between Sindh and Saudi Arabia.
The collaboration is set to open new avenues for prosperity, industrial growth, and technological advancement for both regions, aligning with Saudi Vision 2030 and Sindh’s vision for a dynamic, inclusive future.
The CM was accompanied by his cabinet members - Dr Azra Fazal Pechuho, Sharjeel Memon, Nasir Shah, Saeed Ghani, Makhdoom Mahboobzaman, Jam Khan Shoro, Jam Ikram Dharejo, and Mukesh Chawla.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.