Pakistan, Saudi Fund discuss refinery upgrades, new investment projects
MG News | October 13, 2026 at 12:29 PM GMT+05:00
October 13, 2026 (MLN): Pakistan and the Saudi Fund for Development (SFD) discussed expanding bilateral trade and investment, enhancing private-sector cooperation and exploring opportunities to upgrade refineries during a meeting on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok, Thailand.
Federal Minister for Finance and Revenue Senator Muhammad
Aurangzeb met with SFD Chief Executive Officer Sultan Abdulrahman Al-Marshad,
expressing condolences over the loss of lives in recent incidents in Saudi
Arabia and appreciating the Kingdom’s longstanding support for Pakistan.
The finance minister highlighted improvements in Pakistan’s
macroeconomic position and its renewed access to international capital markets.
Both sides also discussed progress on the bilateral investment protection
agreement and ways to strengthen economic and investment ties.
The two sides reviewed the progress of projects supported by
the SFD and expressed satisfaction with their implementation. They also
underscored the need to develop a new pipeline of projects to further advance
development cooperation.
The SFD reaffirmed its continued support for Pakistan within
the scope of its mandate.
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