Published On: Thu, Jun 2nd, 2022
Published in Category: Islamabad

Pakistan & Saudi Arabia have exceptional relationships based on social, political, religious and cultural ties: Dr. Miftah

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ISLAMABAD: Nawaf Bin Said Al-Malki, Ambassador of Kingdom of Saudi Arabia called on the Federal Minister for Finance and Revenue, Dr. Miftah Ismail at Finance Division on Wednesday.


The Finance Minister highlighted the long-standing bilateral relations between both countries in areas of agriculture, energy, refinery, IT and trade. He further shared that both countries have exceptional relationships based on social, political, religious and cultural ties.


Moreover, the Finance Minister apprised the Saudi Ambassador about the new potential avenues for investment on G2G, G2B and B2B levels between both countries. The Saudi Ambassador acknowledged the long-term relationship and shared that Kingdom of Saudi Arabia is planning to invest in various new avenues and is keenly focusing on continuation of mutual investment projects within Pakistan.


In conclusion, the Finance Minister shared the welcoming sentiments and support for Saudi government to pursue new investment projects in Pakistan.


Meanwhile Sheikh Sauod bin Abdulrahman bin Faisal Al-Thani, Ambassador of the State of Qatar called on the Federal Minister for Finance & Revenue, Miftah Ismail at Finance Division on Wednesday.


The Finance Minister shared that Pakistan has long-standing relationships with Qatar and present government is focused on facilitating the Qatari investors and businessmen regarding investments in Pakistan. He further apprised the Qatari Ambassador about the potential investment avenues present in Pakistan. The Ambassador of Qatar shared the same sentiments with the Finance Minister and shared that government of Qatar is interested in pursuing trade and energy related projects in Pakistan. The Finance Minister welcomed the investment proposal of Qatar government and assured them of full support by the government of Pakistan.


Meanwhile Dr. Miftah Ismail held a meeting with delegation of telecom sector comprising of CEO-Jazz, Aamir Ibrahim, and CEO Telenor Pakistan Irfan Wahab Khan, at Finance Division on Wednesday. Federal Minister for IT and Telecommunication Syed Amin-ul-Haq, Chairman PTA, Chairman FBR and other senior officers attended the meeting.


The delegation briefed the Finance Minister on the contribution of IT sector in the economic development of Pakistan. It was shared that currently IT and Telecommunication sector is facing various issues including serious challenge of profitability. In same view, the delegation requested for reduction in taxation over the items that hardly fall under purview of luxury goods.


It was also shared that growth of IT and Telecommunication not only contributes in increasing the exports but also in overall growth of GDP. The Finance Minister acknowledged the role of IT and Telecommunication in overall economic development of the country. Moreover, the Finance Minister assured the delegation of all possible support regarding taxation issues and emphasized to make greater contribution in enhancement of IT and Telecom related exports. The delegation thanked the Finance Minister for support and cooperation.