WASHINGTON: Pakistan’s Finance Minister Muhammad Aurangzeb met with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan on the sidelines of the ongoing International Monetary Fund (IMF) and World Bank (WB) plenary meetings in Washington, D.C., according to a statement released by the Ministry of Finance today.
The meeting took place during Aurangzeb’s six-day official visit to the United States, which began on Sunday. His agenda includes a series of high-level discussions with global financial leaders, multilateral institutions, and strategic partners.
During his interaction with his Saudi counterpart, Aurangzeb provided a detailed briefing on the ongoing privatisation efforts of Pakistan International Airlines (PIA) and major airports in the country. He highlighted the government’s commitment to ensuring transparency and operational efficiency throughout the process, with the objective of attracting foreign strategic investors.
“The finance minister apprised his Saudi counterpart of the ongoing privatisation process of PIA and key airports, underscoring the government’s resolve to attract strategic investments through transparency and efficiency,” the official statement noted.
Saudi Arabia is a longstanding economic partner of Pakistan and has shown interest in supporting various investment and development initiatives in the country. Aurangzeb’s engagement with Al-Jadaan is seen as part of Pakistan’s broader efforts to secure foreign direct investment and bolster economic stability amid ongoing structural reforms.
The meeting also comes at a critical juncture for Pakistan as it works to finalise a new long-term loan programme with the IMF to support its macroeconomic stability, in addition to exploring international partnerships to enhance its infrastructure and aviation sectors.
The Finance Ministry has not disclosed whether any specific commitments or agreements were made during the meeting. However, officials said further dialogue is expected as Pakistan advances its privatisation agenda.
Aurangzeb is expected to continue his meetings with global stakeholders during the remainder of his U.S. visit.
