WASHINGTON( The COW News Digital) Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, has briefed his Saudi counterpart, Mohammed Abdullah Al-Jadaan, on the country’s ongoing privatization program — including the sale of Pakistan International Airlines (PIA) and several major airports — during a high-level meeting in Washington this week.
According to the Ministry of Finance, the two officials met on the sidelines of the International Monetary Fund (IMF) and World Bank annual meetings to discuss the growing scope of Pakistan–Saudi Arabia economic and investment cooperation.
During the discussion, Aurangzeb outlined Islamabad’s progress on key privatization projects, emphasizing that the government’s reform agenda aims to strengthen the private sector’s role in economic growth. He highlighted the structural reforms being implemented under Pakistan’s IMF-supported program and reaffirmed the government’s determination to stabilize the national economy on a sustainable basis.
The finance minister also underscored the potential for Saudi investment in Pakistan’s infrastructure and aviation sectors, inviting Saudi entities to participate in upcoming privatization tenders for PIA and airports in major cities such as Karachi, Lahore, and Islamabad.
He stressed that the privatization of state-owned enterprises is being carried out transparently and in accordance with international best practices. Aurangzeb further appreciated the contributions of the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) in supporting Pakistan’s investment climate and risk mitigation mechanisms.
In response, Minister Al-Jadaan welcomed Pakistan’s efforts to promote economic reforms and expressed the Kingdom of Saudi Arabia’s interest in deepening financial cooperation with Islamabad. He noted that Riyadh views Pakistan as a key strategic partner in South Asia, with mutual opportunities in trade, energy, and development financing.
Both sides agreed that Pakistan–Saudi relations extend far beyond traditional friendship and are evolving into a strategic economic partnership. The ministers reaffirmed their commitment to expanding cooperation in the fields of investment, infrastructure development, and technology transfer.
Aurangzeb also conveyed Pakistan’s gratitude for Saudi Arabia’s consistent financial support and assured that Islamabad remains committed to creating a business-friendly environment to attract foreign investors.
The meeting concluded with an understanding to maintain close coordination between the two finance ministries to accelerate joint projects and explore new investment avenues under the Pakistan–Saudi Economic Partnership Framework.
