Islamabad, Aug 29: Senator Muhammad Aurangzeb, the federal minister of finance and revenue, presided over a review meeting on Thursday with representatives from joint venture investment companies, such as Saudi-Pak Industrial and Agricultural Investment Company (SPI&AIC) and Pak-Brunei Investment Company Limited (PBICL).
According to a press statement released here on Monday, the meeting’s main focus was assessing the advancement, difficulties, and future directions of these businesses.Senior personnel from the Finance Division as well as Mr. Sultan M. Hassan Abdulrauf, Chairman SPI&AIC, and Ms. Dk Noor ul Hayati Binti Pg Julaihi, Chairman PBICL, attended the meeting.
The CEO of Pak-Brunei Investment Company Limited (PBICL) provided a quick rundown of the company’s main projects in Pakistan as well as its portfolio.He informed the Minister of PBCIL’s role in advancing economic cooperation between Brunei and Pakistan by facilitating investments in the real estate, financial services, and SME support sectors of the industry and agriculture. These efforts have resulted in notable advancements in these fields, promoting economic stability and bilateral trade.
In a similar vein, the CEO of Saudi-Pak Industrial and Agricultural Investment Company (SPI&AIC) presented the nation’s primary development initiatives for the company’s support of commerce, digital finance, food security, agriculture, and livestock as well as Islamic financing.The discussion also covered a range of topics related to these businesses’ operations, such as investment strategies, performance indicators, and major growth-related roadblocks. Both businesses discussed their successes and difficulties, indicating areas in their operational landscape that need support from policy to overcome hurdles.
In order to help priority sectors, the conversation also covered possible areas for future investments and partnerships through increased government-to-government activities.The Minister of Finance expressed gratitude to both enterprises and praised the KSA’s Vision 2030 implementation techniques for meeting their goals in a short period of time. It was emphasized that Pakistan is eager to acquire knowledge of these strategies.
Senator Aurangzeb also reaffirmed the government’s unshakable dedication to fostering an atmosphere that encourages investment from the private sector, acknowledging the vital role that joint venture firms like PBICL and SPI&AIC may play in promoting economic expansion. He emphasized how crucial these projects are to luring in foreign direct investment (FDI). Finally, the Minister reiterated that the government is eager to implement legislative changes that will expedite the investment process and offer benefits to international investors.
