FinMin credits Saudi Arabia for supporting Pakistan’s IMF program at AlUla Conference

February 17, 2025 (MLN): Pakistan and Saudi Arabia’s strengthening economic ties were underscored by Pakistan’s Finance Minister, Muhammad Aurangzeb, in an exclusive interview with Arab News at the 2025 AlUla Conference for Emerging Market Economies.

He emphasized how Saudi Arabia’s Vision 2030 offers valuable lessons for Pakistan as it undergoes its own structural reforms aimed at macroeconomic stability, while also acknowledging the Kingdom's crucial support for Pakistan’s IMF program.

Aurangzeb also expressed gratitude for the assistance Pakistan has received from Saudi Arabia, particularly in helping the country navigate its economic challenges.

The finance minister praised Saudi Arabia’s progress under Vision 2030, noting that Pakistan views the Kingdom as a model for its economic transformation.

"Pakistan and the Kingdom of Saudi Arabia have been long-standing partners, and there is much to learn from Saudi Arabia's leadership in economic reforms," the finance minister stated.

Aurangzeb also discussed the increasing Saudi investments in Pakistan, particularly in the business-to-business sector, citing recent developments such as Saudi Aramco's involvement in the downstream petroleum industry.

He further pointed to ongoing government-to-government agreements, which are expected to be announced later this year, according to the press release.

One area of focus was the potential to boost exports from Pakistan to Saudi Arabia, particularly in the skilled labor sector, which aligns with the Kingdom's workforce needs as it moves toward its Vision 2030 objectives.

The minister reiterated his appreciation for the support Pakistan has received from Saudi Arabia, especially regarding Pakistan’s IMF program, highlighting the Kingdom's key role in assisting the country through its economic challenges.

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