ISLAMABAD: Caretaker Federal Minister for Finance, Revenue and Economic Affairs Dr Shamshad Akhtar expressed the desire to learn from the best practices of Saudi Arabia in developing Pakistan Sovereign Wealth Fund to bring about financial boom in the country. In a virtual meeting with the Investment Minister of the Kingdom of Saudi Arabia, Khalid Al- Falih, the minister praised the efforts of Saudi Sovereign Wealth Fund which has brought financial boom in Saudi Arabia.
She emphasized that Pakistan wanted to learn from its best practices for developing Pakistan Sovereign Wealth Fund, which had been tasked with privatization of government assets in financial difficulty. Dr Shamshad Akhtar, while highlighting the steps taken by caretaker government in bringing the financial stability, said that Pakistan had achieved macroeconomic stability and reversed the negativity, by building the confidence of bilateral and multilateral donors in International market. She appreciated the efforts of Special Investment Facilitation Council (SIFC) which had played a positive role in ease of doing business and made implementation of projects a success.
She appreciated the continuous support of the Kingdom of Saudi Arabia to Pakistan. Lauding the efforts of cretaker government in bringing financial stability in Pakistan, Khalid Al-Falih stressed that existence of SIFC was critical to ensure continuity of projects during the transition of government. He emphasized that both the countries were closely knit in religious ties and had strong cooperation which would be further enhanced in future. He promised to create a linkage between the sovereign funds of both the countries.
