ISLAMABAD: Pakistan Finance Minister Muhammad Aurangzeb met United Arab Emirates (UAE) counterpart Mohamed Al Hussaini on the sidelines of the World Economic Forum (WEF) in Switzerland, reviewing ongoing economic engagement and discussing ways to further strengthen bilateral relations, the Finance Ministry said.
Minister Aurangzeb is part of the Prime Minister Shehbaz Sharif delegation to attend the World Economic Forum held in Davos, Switzerland.
According to the statement, Aurangzeb briefed his counterpart on the smooth continuation of the International Monetary Fund (IMF) programme, including the ongoing review under the Extended Fund Facility and the first review of the Climate Resilience programme.
“He [Muhammad Aurangzeb] expressed appreciation for the UAE’s continued support and noted that bilateral relations were further strengthening, particularly in light of the recent visit of the President of the United Arab Emirates to Pakistan,” said the statement.
The Emirati minister highlighted the importance of close people-to-people ties, which continue to underpin the longstanding partnership between Pakistan and the UAE, it added.
Aurangzeb thanked the UAE for its “ongoing financial cooperation,” including bilateral deposits and transactions, and emphasized the shared objective of transforming traditional support into long-term investment partnerships.
While acknowledging the UAE’s experience in emerging financial technologies, he also shared Pakistan’s recent steps toward strengthening its regulatory framework, including the establishment of a dedicated authority “focusing on tokenization.”
“Positive impressions”
During his official visit to Switzerland, Aurangzeb held a meeting with his Saudi counterpart at the sidelines of the World Economic Forum Annual Meeting 2026 on Monday.
“The bilateral engagement provided an opportunity for both leaders to exchange views on Pakistan’s economic progress and explore avenues for further strengthening the long-standing economic partnership between Pakistan and the Kingdom of Saudi Arabia,” said the statement.
The Saudi minister shared his “positive impressions” regarding Pakistan’s economic developments, it added. While Aurangzeb "warmly thanked" Saudi Arabia and its leadership for their continued and steadfast support of Pakistan, underscoring the “deep-rooted and time-tested relationship” between the two brotherly countries.
He briefed his Saudi counterpart on key macroeconomic indicators, noting that Pakistan’s economy was firmly on a stabilization and growth trajectory, added the statement.
Aurangzeb also highlighted the strong participation of over “120,000 new investors in the capital market,” reflecting renewed confidence in Pakistan’s economic prospects, according to the statement.
“He [Muhammad Aurangzeb] added that economic growth had reached 3.1 percent last year and had further accelerated to 3.7 percent in the first quarter of the current fiscal year,” said the statement.
The finance minister highlighted the significant contribution of remittances to economic stability, noting that inflows were expected to increase from “USD 38 billion last year to over USD 41 billion this year”, added the statement.
“Growth in IT services was also cited as a key driver of economic activity, contributing positively to the current account,” added the statement.
During the meeting, Aurangzeb briefed his counterpart on the government’s proactive approach towards privatization, noting that “important transactions had recently been concluded, including investment from the United Arab Emirates” in a digital venture and progress related to Pakistan International Airlines, said the statement.
He added that this momentum would continue with the phased privatization of selected state-owned enterprises, including certain distribution companies and major airports in Islamabad, Lahore, and Karachi, as per the statement.
Both sides reaffirmed and committed to further deepen and expand mutually beneficial economic relations between the two countries, said the statement.
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