Pakistan finmin participates in Emerging Market Economies conference in Saudi Arabia

Pakistan’s Minister for Finance and Revenue Muhammad Aurangzeb arrives for a discussion on Pakistan, during the ongoing International Monetary Fund and World Bank Group 2024 Annual Meetings, in Washington DC, on October 22, 2024. (Sipa USA/Reuters)
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Updated 16 February 2025
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Pakistan finmin participates in Emerging Market Economies conference in Saudi Arabia

  • Muhammad Aurangzeb will take part in panel discussion moderated by IMF’s managing director
  • At least 200 participants, including 36 speakers from 48 countries are attending AlUla conference 

ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb is attending a two-day Emerging Market Economies Conference in Saudi Arabia’s AlUla city, the Finance Division said on Sunday, to take part in discussions around sustainable economic growth amid global uncertainties. 

The two-day conference is being held from Feb. 16-17 in collaboration with the International Monetary Fund (IMF) and the Kingdom’s Ministry of Finance.

The nine-session conference would be attended by 200 participants and 36 speakers from 48 countries. The event will bring together emerging market finance ministers, central bank governors, policymakers, public and private sector leaders, international institutions and academics.

“During the conference, Senator Aurangzeb will take part in a high-level panel discussion on ‘Navigating the Path for Resilient Emerging Markets’, moderated by IMF Managing Director Kristalina Georgieva, alongside finance ministers from Egypt, Brazil, and Turkiye,” the Finance Division said. 

The statement said that the conference is set to become an annual platform for emerging markets and developing economies to help them shape the global economic discourse, enhance policy coordination and strengthen international cooperation for sustainable economic stability.

Aurangzeb is attending the conference at the invitation of his Saudi counterpart Mohammed Al-Jadaan. The two ministers met on Saturday, stressing the importance of unlocking the full potential of Pakistan and Saudi Arabia’s economic relationship. 

Their discussions highlighted opportunities for enhancing bilateral trade, investments and financial collaboration, state broadcaster Radio Pakistan reported. 

Pakistan is navigating a fragile economic recovery under a $7 billion IMF loan program secured in September 2024, after implementing austerity measures and policy reforms to avert a sovereign default in 2023.

To facilitate Pakistan’s economic recovery, Saudi Arabia signed 34 memorandums of understanding (MoUs) worth $2.8 billion last October to boost private sector investment in key areas, including energy, infrastructure and technology.

The global conference takes place at a time when the world economy is facing persistent shocks, trade tensions between major world powers, geopolitical instability and tight financial conditions. 


Pakistan PM takes notice of passenger offloading issue, forms committee to streamline immigration

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Pakistan PM takes notice of passenger offloading issue, forms committee to streamline immigration

  • Several passengers complained last month of being offloaded at airports despite having genuine travel documents
  • Committee comprising IT minister to be led by minister for overseas Pakistanis, submit report to PM within three weeks 

ISLAMABAD: Prime Minister Shehbaz Sharif has taken notice of reports of arbitrary offloading of Pakistani passengers at various airports and has constituted a 14-member committee to streamline immigration procedures, the Ministry of Overseas Pakistanis said this week. 

The development took place after several passengers last month complained they were being offloaded at various Pakistani airports despite carrying valid travel documents, drawing public ire on social media platforms.

These reports coincided with Islamabad’s crackdown on illegal immigration, which gained significant attention in Pakistan after the arrest of several Pakistani and foreign nationals at airports with forged documents in recent years.

As per a notification by the Ministry of Overseas Pakistanis seen by Arab News dated Dec. 15, Sharif has formed a 14-member committee comprising the federal IT minister, state minister for overseas Pakistanis, and secretaries of both ministries. The committee will be led by the federal minister for overseas Pakistanis. 

“A committee comprising the following members has been constituted to deliberate upon and implement measures for eliminating and minimizing human discretionary elements in the issuance and renewal of the Protectorate of Emigrants (POE) stamp for bona fide emigrants proceeding abroad,” the notification reads. 

A POE stamp is a mandatory government endorsement on a Pakistani passport that is required by a citizen traveling abroad for employment. 

The committee’s terms of reference (ToRs) include suggesting a “workable and end-to-end digitized process” for online issuance of POE stamps. It has also been tasked to undertake measures to develop a system to facilitate the online renewal of POE stamps.

The committee will suggest a mechanism to monitor workers’ satisfaction with the issuance, renewal of POE stamps and related immigration clearance arrangements.

“[Provide] recommendations for any other related measures which can improve the existing POE arrangements and bring them in line with international best practices,” it added. 

The notification said the committee will finalize its findings within three weeks and submit a report to the prime minister. 

Pakistan’s Interior Minister Mohsin Naqvi last month urged authorities not to offload passengers with valid travel documents. 

Pakistan has also intensified its crackdown against individuals accused of exploiting visas to solicit money in Saudi Arabia. 
Officials have warned the practice is damaging the country’s image and could affect genuine visa seekers, including religious pilgrims.