ISLAMABAD - A delegation of Saudi oil company Aramco, led by its vice chairman Abdul Aziz M Al-Judaimi, called on Finance Minister Senator Ishaq Dar here on Friday.

The finance minister welcomed the delegation and hoped that the visit will lead to further strengthening of economic relations between the two countries. He referred to the special interest of the Saudi leadership in the development of Pakistan and recalled his visit to Saudi Arabia during which many Saudi companies had indicated their interest in the investment opportunities in Pakistan. He said that Pakistan offers a very attractive incentive package for foreign investors and Saudi investors must make use of it for mutual benefit of the two sides.

Abdul Aziz M Al-Judaimi stated that the visit was being undertaken under the direction of Prince Muhammad Bin Salman Al Saud, the Deputy Crown Prince of Saudi Arabia. He said that the purpose of the visit is to explore investment opportunities in the energy and petrochemical sectors. “Pakistan is not only a large market but it also provides access to other markets in the region, therefore, Aramco would be looking at making investment in refineries and power stations”, he said. Abdulaziz Al-Judaimi informed that a technical team would visit Pakistan soon to seek further details about various potential projects.

The minister said that the government would be willing to provide facilitation to the technical teams of Aramco. He stated that the stabilization of macroeconomic situation and improvement in security conditions had led to a renewed interest in Pakistan by foreign investors and the government will ensure that such investors are provided a safe and secure business environment to carry out their operations. The minister on this occasion also conveyed his warm regards and good wishes for the Saudi leadership.

FPCCI president meets

finance minister

APP: FPCCI President Rauf Alam called on Finance Minister Senator Mohammad Ishaq Dar here on Friday.

President FPCCI discussed with the finance minister various issues related to the business environment in the country. He appreciated the government’s policy of consultation with the business community representatives across the country.

He recalled the long-drawn negotiations between the government and the representatives of traders on the issue regarding imposition of Withholding Tax and stated that the spirit in which the two sides were able to resolve the issue, augurs well for the business and economic environment in the country.

Alam also made suggestions, on behalf of FPCCI for further improvement of business climate in the country.

The finance minister congratulated Rauf Alam on his election as President FPCCI and hoped that under his leadership the Federation will play its role in the improvement of business environment in the country.

He said that the business community was a very important component of the economic landscape of Pakistan and the government fully appreciated its contribution to the economy.

He assured the FPCCI President that the government will continue to seek advice and consultation of the business community.

He said that the government’s objective of higher growth and job creation could only be achieved with the help and support of the private sector and the government is continuously striving to provide the best possible environment to enable the private sector to play its due role according to its potential.

Rauf Alam assured the minister that FPCCI will support the government in its efforts for economic development and well being of the people of country.