Saudi Minister Promises to Create Linkage Between Sovereign Funds of KSA, Pakistan

Caretaker Finance Minister Dr Shamshad Akhtar had a virtual meeting with Khalid Al-Falih, the Investment Minister of the Kingdom of Saudi Arabia, and discussed matters of mutual interest and cooperation.

Highlighting the steps taken by the caretaker government in bringing financial stability, the finance minister said that Pakistan has achieved macroeconomic stability and reversed the negativity, by building the confidence of bilateral and multilateral donors in the international market.

She appreciated the efforts of SIFC which has played a positive role in ease of doing business and made implementation of projects a success. While gratifying the efforts of the Saudi Sovereign Wealth Fund which has brought a financial boom in Saudi Arabia, the finance minister emphasized that Pakistan wanted to learn from its best practices for developing the Pakistan Sovereign Wealth Fund, which had been tasked with the privatization of government assets in financial difficulty.

Lauding the efforts of the caretaker government in bringing financial stability, the Saudi minister stressed that the existence of SIFC is critical to ensure the continuity of projects during the transition of government. He further emphasized that both countries were closely knit in religious ties and had strong cooperation which will be further enhanced in the future. He promised to create a linkage between the sovereign Funds of both countries

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