The Pakistani government has expressed optimism about receiving investment from Saudi Arabia after discussions between the Crown Prince of Saudi Arabia, Mohammad Bin Salman, and Pakistan’s Chief of Army Staff (COAS). Caretaker Prime Minister Anwaarul Haq Kakar stated that the government is planning for the visit of the Crown Prince, which aims to fully exploit economic opportunities in the country.
The Prime Minister also mentioned that a task force, led by the finance minister, will assess the sizes of the federal and provincial governments, explore options for better managing pension funds, and make efforts to rationalize public expenditure and increase revenue. He emphasized the need to rationalize expenditure and increase government revenue in order to create a viable state and reduce economic vulnerability.
The Prime Minister highlighted the efforts of the Special Investment Facilitation Council (SIFC) in promoting good governance and addressing past issues of ill governance. He mentioned that the army’s organizational strength has increased the confidence of the civil service and renewed energy to implement policies and achieve goals.
In addition, the Prime Minister revealed that a consortium of Pakistani oil companies and Saudi oil company Aramco are in talks to set up an oil refinery in Pakistan. He also mentioned that the United Arab Emirates has shown keen interest in exploring minerals in Pakistan.
Regarding the issue of smuggling affecting industry and agriculture in Balochistan, the Prime Minister acknowledged that lenient approaches adopted in the past contributed to this problem. He affirmed that the current military leadership and caretaker government have a clear stance on regulating the movement of people and goods at the borders of Iran and Afghanistan, leading to successful efforts in curbing smuggled goods.
The Prime Minister stated that Pakistan’s foreign policy is now driven by geoeconomics alongside core strategic goals. He also acknowledged an information vacuum regarding the work of SIFC and mentioned that the government is working on a plan to keep the public informed and create awareness about taxation culture, economic initiatives, and strategic issues.
In conclusion, the Prime Minister affirmed that the caretaker government aims to make the right decisions without resorting to populism and to lay a foundation for the next government. He mentioned that the incumbent President will continue in office until his successor replaces him under the prevailing law and constitution.
The government hopes to hold general elections before March to allow for Senate elections to fill the seats made vacant by retiring senators, as per the constitutional requirements and legislation implemented by political parties.