ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb this week met senior officials of Saudi Arabia’s Wafi Energy Pakistan and Asyad Holdings group, promising to facilitate foreign investors via fostering a business-friendly environment in the country, the Finance Division said.
Wafi Energy, an affiliate of the Asyad Group, made huge investments in Pakistan when it became the majority shareholder of Shell Pakistan Limited (SPL) in November last year. The Saudi group now holds approximately 87.78 percent of the total issued share capital of SPL.
Aurangzeb met Ghassan Al Amoudi, CEO of Asyad Holdings and Wafi Energy Pakistan Limited Chairman Zubair Shaikh on Thursday. He welcomed the delegation and appreciated both groups’ contributions to Pakistan’s energy and investment sectors, the Finance Division said.
“He reaffirmed the government’s commitment to facilitating foreign investors and ensuring a business-friendly environment,” the statement said on Thursday.
Aurangzeb spoke to the delegation about his recent visit to Saudi Arabia for the AlUla Conference 2025, commending Saudi Arabia’s strides in economic diversification and infrastructure development.
The Saudi delegation informed the minister about their plans to expand their investments in Pakistan, emphasizing that the South Asian country already hosts their largest investments, the Finance Division said.
“They expressed confidence in Pakistan’s economic potential and shared their vision for further collaboration in the downstream petroleum sector and energy infrastructure,” the statement said.
The delegation noted that investor and consumer confidence in Pakistan is returning, the Finance Division said.
“The finance minister reiterated the government’s full support for foreign investors and its dedication to policies that foster investment, innovation, and sustainable economic progress,” the statement said.
Pakistan has proactively tried to woo foreign investors and countries into investing in the country’s energy, infrastructure, real estate, agriculture, livestock and other priority sectors ever since it came close to defaulting on its international payments in 2023.
Pakistan formed the Special Investment Facilitation Council (SIFC) in June 2023 to attract international investment in its priority sectors, particularly from Gulf countries.
The SIFC is a hybrid civil-military body that aims to fast-track decisions related to international investment. Since its formation, Pakistan has signed several agreements in trade and investment with Saudi Arabia, UAE, Azerbaijan, Turkiye, China and other countries worth billions of dollars.
