ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb on Thursday held talks with Saudi Arabia’s Vice Minister of Finance Abdulmuhsen Al-Khalaf in Riyadh, with both sides discussing macroeconomic trends and plans to deepen cooperation as Islamabad works to stabilize its economy.
Saudi Arabia is one of Pakistan’s largest economic partners, providing billions of dollars in loans, oil financing and balance-of-payments support during recurring financial crises. The Kingdom is also the single biggest source of remittances for Pakistan and has pledged multibillion-dollar investments in mining, energy and agriculture in recent years. The two nations also this year announced the Saudi-Pakistan Economic Framework, making Riyadh central to Islamabad’s economic stabilization plans.
During Thursday’s meeting, “the Ministers exchanged views on the positive macroeconomic trends of Pakistan’s economy and joint resolve to further enhance the economy,” the finance ministry said in a statement.
“Aurangzeb appreciated Kingdom’s bilateral support and multilateral support for strengthening Pakistan’s economy. Both sides agreed to continue close cooperation on tactical and strategic level to fulfil the aspirations of the leadership and the people of the two brotherly countries.”
