Finance Minister Meets Saudi Counterpart to Discuss Economic Outlook and Investment Cooperation at WEF 2026
Davos – Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with His Excellency Mohammed Aljadaan, Finance Minister of the Kingdom of Saudi Arabia, on the sidelines of the World Economic Forum Annual Meeting 2026.
The bilateral engagement provided an opportunity for both leaders to exchange views on Pakistan’s economic progress and explore avenues for further strengthening the long-standing economic partnership between Pakistan and the Kingdom of Saudi Arabia.
During the meeting, Minister Aljadaan shared his positive impressions regarding Pakistan’s recent economic developments. Senator Muhammad Aurangzeb warmly thanked the Kingdom of Saudi Arabia and its leadership for their continued and steadfast support to Pakistan, underscoring the deep-rooted and time-tested relationship between the two brotherly countries.
Senator Muhammad Aurangzeb briefed his Saudi counterpart on key macroeconomic indicators, noting that Pakistan’s economy was firmly on a stabilization and growth trajectory. He highlighted that foreign exchange reserves had strengthened, providing an import cover of approximately three months, reflecting improved macroeconomic resilience.
Emphasizing growing investor confidence, the Finance Minister shared that sixteen initial public offerings were currently in the pipeline, following the successful completion of nine IPOs last year. He also highlighted the strong participation of over 120,000 new investors in the capital market, reflecting renewed confidence in Pakistan’s economic prospects.
The Finance Minister noted that interest rates had begun to trend downward, while reaffirming the independence of the State Bank of Pakistan in determining monetary policy. He added that economic growth had reached 3.1 percent last year and had further accelerated to 3.7 percent in the first quarter of the current fiscal year. He underscored that the government remained focused on maintaining a sustainable current account balance alongside steady and inclusive GDP growth, in line with its broader economic vision.
He further highlighted the significant contribution of remittances to economic stability, noting that inflows were expected to increase from USD 38 billion last year to over USD 41 billion this year. Growth in IT services was also cited as a key driver of economic activity, contributing positively to the current account. In this context, Senator Muhammad Aurangzeb acknowledged with appreciation the valuable support extended by the Kingdom of Saudi Arabia.
Senator Muhammad Aurangzeb also highlighted the government’s ongoing efforts to further enhance foreign direct investment, particularly in priority sectors such as minerals and mining, agriculture, and other productive areas with strong export potential and broad-based socioeconomic impact.
He briefed his counterpart on the government’s proactive approach towards privatization, noting that important transactions had recently been concluded, including investment from the United Arab Emirates in a digital venture and progress related to Pakistan International Airlines. He added that this momentum would continue with the phased privatization of selected state-owned enterprises, including certain distribution companies and major airports in Islamabad, Lahore, and Karachi.
The Finance Minister stated that the Privatization Commission was being led by an experienced professional team, working with strong institutional support and clear direction, ensuring that the process remained transparent, structured, and sustainable.
Minister Aljadaan shared Saudi Arabia’s own experience with privatization, highlighting how a consistent and well-managed approach had delivered long-term benefits for the Kingdom and its people. He cited the transformation of Saudi airports into strong revenue-generating assets as an example of successful economic reform.
The meeting concluded in a warm and positive atmosphere, with both ministers reaffirming their commitment to further deepen and expand mutually beneficial economic relations between Pakistan and the Kingdom of Saudi Arabia.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
