Financial stability: KSA minister briefed about caretakers efforts

ISLAMABAD: Caretaker Finance Minister Dr Shamshad Akhtar had a virtual meeting with Khalid Al- Falih, the Investment Minister of the Kingdom of Saudi Arabia and discussed matters of mutual interest and cooperation.

Shamshad Akhtar highlighting the steps taken by caretaker government in bringing the financial stability said, that Pakistan has achieved macro-economic stability and reversed the negativity, by building the confidence of bilateral and multilateral donors in International market.

Finance Minister appreciated the efforts of SIFC which has played a positive role in ease of doing business and made implementation of projects a success.

While gratifying the efforts of Saudi Sovereign wealth fund which has brought financial boom in Saudi Arabia, emphasized that Pakistan wanted to learn from its best practices for developing Pakistan Sovereign Wealth Fund, which had been tasked with privatization of government assets in financial difficulty. Lauding the efforts of Caretaker government in bringing Pakistan on financial stability Khalid Al- Falih stressed, that existence of SIFC is critical to ensure continuity of projects during the transition of government. He further emphasized that both the countries were closely knit in religious ties and had strong cooperation which will be further enhanced in future. He promised to create a linkage between the sovereign Funds of both the countries. At the end, Finance Minister appreciated the continuous support of the Kingdom of Saudi Arabia to Pakistan. The meeting ended with a vote of thanks.

Copyright Business Recorder, 2024