More investment linkage with Saudi Arabia stressed

ISLAMABAD: Federal Minister for Finance, Revenue, Industries, and Production Muhammad Hammad Azhar on Tuesday stressed the need for further strengthening investment and business linkages with Saudi Arabia to its full potential and facilitating Pakistani diaspora abroad.

The minister was talking to Ambassador-Designate to the Kingdom of Saudi Arabia Lt Gen Bilal Akbar (Retd) who made a courtesy call on him at the Finance Division, a statement issued by the Finance Ministry said.

The minister welcomed the ambassador-designate and wished him success in his new assignment.

Pakistan and Saudi Arabia were enjoying historical relations over the years, he said, adding that these bilateral ties were rooted in centuries-old religious, cultural, and commercial links between the people of the two countries.

The people of Pakistan had great respect and reverence for the Kingdom being the custodian of the two Holy mosques, Azhar added.

Moreover, a large number of Pakistani expatriates were working in different fields and have made a significant contribution in building infrastructure.

Besides, the Pakistani diaspora was a great asset for the country who were serving as doctors, bankers, entrepreneurs, academia, etc, and remit valuable remittances back home, he added.

The government has taken initiatives such as Roshan Digital Accounts to facilitate non-resident Pakistanis for investing in Pakistan, the minister said, adding that a large number of Pakistanis, based in Saudi Arabia, have opened online accounts and benefited from the scheme.

The ambassador-designate briefed the finance minister on the vast potential for expanding bilateral trade and investment between the two countries.