ISLAMABAD: Pakistan’s finance minister, Muhammad Aurangzeb stressed the need for Pakistan to learn lessons in “policy continuity” and “irreversibility” from Saudi Arabia’s Vision 2030 framework, the Pakistani finance ministry said.
The statement came after Aurangzeb virtually attended a workshop on “Implementation Management” organized by Saudi Arabia. The workshop, facilitated by Pakistan’s Special Investment Facilitation Council (SIFC) as part of ongoing efforts to strengthen Pakistan-Saudi economic collaboration, will have subsequent sessions focusing on Digital Transformation and Social Transformation.
Saudi Arabia is consolidating its economy on modern lines under the Vision 2030, which is a strategic development framework intended to cut the Kingdom’s reliance on oil. It is aimed at developing public service sectors in the Kingdom such as health, education, infrastructure, recreation and tourism.
Addressing the participants, Aurangzeb underscored the necessity of policy continuity as a cornerstone for sustainable progress, drawing attention to the concept of irreversibility in reforms, a key element in Saudi Arabia’s success story.
“Pakistan has often faltered in ensuring policy continuity,” he was quoted as saying by the Pakistani finance ministry. “The lesson we must take from Saudi Arabia is the importance of irreversibility in transformation initiatives.”
Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. The workshop, titled “Saudi-Pak Economic Collaboration Taskforce — Pakistan Transformation,” was attended by senior Pakistani federal officials as well as representatives of provincial governments.
Addressing the participants, the finance minister highlighted the importance of learning from Saudi Arabia’s Vision 2030, an exemplary model of robust implementation strategies. He affirmed that setbacks were inevitable in the pursuit of meaningful progress, emphasizing that learning through failures was an integral part of success.
“To ensure success, reforms must not only be implemented but also institutionalized, making them difficult to reverse,” Aurangzeb said.
The workshop featured a comprehensive presentation on Vision 2030’s approach to developing strategic objectives and converting them into measurable outcomes through meticulous implementation processes, according to the Pakistani finance ministry.
The key principles of the approach include translating strategic objectives into measurable outcomes, establishing clear accountability mechanisms, and focusing on sustainability and irreversibility to ensure lasting impact.
“The workshop concluded by reaffirming Pakistan’s commitment to leveraging international best practices, fostering collaboration with the Kingdom of Saudi Arabia, and driving forward the economic and social transformation agenda,” the finance ministry added.
