Daily Times

Minister for Petroleum, Dr. Musadiq Malik, said on Monday that the government led by Prime Minister Shahbaz Sharif is committed to ending red tape and facilitating the business community for sustainable economic growth. Addressing a press conference alongside Minister for Commerce Jam Kamal Khan and Minister for Information and Broadcasting Attaullah Tarar Tarar, Dr. Malik said, “Prime Minister has issued instructions to eliminate red-tapism and reduce regulations to provide a conducive environment and level playing field for all investors.” He said that Saudi Arabian companies have established separate desks, and Pakistani companies are engaged in negotiations to enhance their business at the international level. The minister expressed optimism that several companies would finalize business and investment deals during the business-to-business (B2B) sessions, fostering greater economic cooperation between Saudi Arabia and Pakistan. He highlighted the presence of over 100 Pakistani companies at the investment conference, negotiating cooperation with Saudi companies across various sectors including agriculture, mining, human resources, energy, chemicals, maritime, IT, religious tourism, telecom, aviation, construction, water, and power generation. He believed that the Pakistan-Saudi Arabia investment conference would promote bilateral trade and investment, ushering in a new era of growth and prosperity and creating job opportunities for young people to start small businesses with Saudi Arabian companies. He said that the investment conference would provide new directions and hope for Pakistan. He thanked Minister for Commerce Jam Kamal Khan for his leadership in appointing coordinators for each company that arrived in Pakistan to facilitate their engagement.