Daily Times

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb held a meeting with the leadership of Pak-Kuwait Investment Company (PKIC) here on Monday to discuss the strategic initiatives and future directions of the joint venture in Pakistan. According to press release issued by finance ministry, the attendees included Managing Director Pak-Kuwait Investment Company, Saad ur Rehman Khan, Finance Secretary and senior officials from the Finance Division. The finance minister commended Pak-Kuwait Investment Company for its strategic contributions to Pakistan’s economy, especially in sectors vital to the nation’s long-term development. He specifically acknowledged PKIC’s proactive approach to integrating Islamic finance into its operations, noting that this approach not only aligns with Pakistan’s development priorities but also resonates with the broader goals of ethical and sustainable growth. On the occasion, Saad ur Rehman Khan provided an overview of PKIC’s current portfolio, highlighting the PKIC’s initiatives in the real estate sector leveraging Islamic finance structures to fund major infrastructure projects addressing Pakistan’s investment needs while ensuring that investment activities adhere to Islamic principles, thereby attracting a broader range of investors. The discussions also highlighted PKIC’s dedication to supporting small and medium enterprises (SMEs) across Pakistan. Both sides emphasized the need for continued collaboration and support to enhance the effectiveness of such joint ventures, the press release added.

UN cooperation: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here on Monday appreciated the cooperation provided by the United Nations (UN) and its agencies in sustainable development of Pakistan. During a meeting with United Nations Resident and Humanitarian Coordinator for Pakistan, Muhammad Yahya, who called on him here, the minister shared the commitment of the government towards policy reforms and sustainable economic development. He reiterated that climate finance and energy transition were essential areas for improving energy sector viability in the country and welcomed the cooperation with UNESCAP in this regard. On the occasion, Muhammad Yahya briefed the Finance Minister on the work of UN and its agencies undertaking development and humanitarian assistance projects in Pakistan.