Aurangzeb Briefs Saudi Minister on PIA Privatisation Plans

Finance Minister Muhammad Aurangzeb briefed his Saudi counterpart Mohammed Al-Jadaan on Pakistan’s ongoing PIA and airport privatisation plans. The two leaders met in Washington, DC, on the sidelines of the IMF-World Bank annual meetings.
The finance ministry shared that the discussion focused on strengthening economic cooperation between Pakistan and Saudi Arabia. Aurangzeb explained Pakistan’s efforts to privatise Pakistan International Airlines (PIA) and improve management at major airports.

Privatisation Drive

Pakistan continues to move forward with its economic reform agenda. The government plans to privatise loss-making state-owned enterprises to attract investors and raise revenue. According to officials, the PIA sale should be completed by November 2025.
Aurangzeb emphasised transparency and efficiency throughout the process. He said Pakistan remains committed to structural reforms that encourage strategic foreign investment and ensure good governance.
During the meeting, both ministers reviewed the growing trade and investment partnership between the two nations. They discussed potential cooperation in infrastructure and energy projects as part of long-term collaboration.

Saudi Investment Interest

Aurangzeb sought Saudi support for Pakistan’s infrastructure development. He highlighted the country’s focus on building stronger economic ties with the Kingdom. The ministers agreed that institutions such as the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) could help mobilise private investments in Pakistan.
Earlier this week, Aurangzeb also met Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development (SFD). Both sides reaffirmed their strategic partnership and agreed to enhance development cooperation.

Recent Saudi Visit

A high-level Saudi business delegation recently visited Pakistan. During its trip to Karachi, it signed two Memorandums of Understanding (MoUs). The first MoU covered the sale and purchase of shares in KES Power Ltd, while the second outlined cooperation between K-Electric Limited and Trident Energy Ltd.
The visit followed the Strategic Mutual Defence Agreement, signed on September 17, which pledged joint action against any external aggression.