Pakistan, Saudi Fund discuss refinery upgrades, new investment projects

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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