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Aurangzeb meets Saudi finance minister, briefs him on ongoing privatisation of PIA and key airports

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Finance Minister Muhammad Aurangzeb met his Saudi counterpart on the third day of his ongoing US visit, the finance ministry said on Thursday, adding that the former briefed the latter about the privatisation process of the Pakistan International Airlines (PIA) and key airports.

The meeting was held on the sidelines of the plenary meetings of the International Monetary Fund (IMF) and World Bank (WB) in Washington, D.C., where Aurangzeb arrived on Sunday on a six-day trip.

A foreign ministry statement issued today said Aurangzeb continued a series of high-level meetings in the US capital, including his engagement with Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan.

“He apprised his Saudi counterpart of the ongoing privatisation process of Pakistan International Airlines (PIA) and key airports, underscoring the government’s resolve to attract strategic investments through transparency and efficiency,” it added.

The development comes after a parliamentary committee was informed last month that the PIA Corporation Limited was expected to be privatised by November this year. The national flag carrier’s privatisation is a key condition under the $7bn IMF bailout package approved for Pakistan.

The planned sale of the PIA would mark the country’s first major privatisation in about two decades, with divestment of loss-making state firms a central plank of last year’s bailout.

Regarding the said bailout package, Aurangzeb reaffirmed during his meeting with Al-Jadaan that Pakistan remained steadfast in pursuing economic reforms under the IMF programme to ensure long-term macroeconomic stability, the finance ministry statement said.

It added that the two finance ministers also reviewed the growing trade and investment relations between the two countries.

Moreover, the statement said, the two ministers agreed that institutions such as the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) could play a vital role in mobilising private sector investments in Pakistan.

“Aurangzeb also sought Saudi support for infrastructure development projects, emphasising Pakistan’s commitment to fostering a deeper economic partnership with the kingdom,” it said.

Other engagements

Apart from meeting his Saudi counterpart, Aurangzeb also held other meetings on the day, the finance ministry statement said, adding that the “engagements focused on reinforcing Pakistan’s commitment to economic reforms, exploring new avenues for international investment, and strengthening bilateral financial cooperation”.

In a key meeting with US International Development Finance Corporation (DFC) Chief Executive Officer Benjamin Black, he “highlighted significant investment opportunities within Pakistan’s oil and gas, mines and minerals, agriculture, IT and pharmaceutical sectors”.

The finance minister also underscored the consensus at the leadership level to enhance trade and investment ties, welcoming the DFC’s interest in facilitating private sector-led funding for projects in Pakistan, the finance ministry statement said.

Separately, he also met Azerbaijan’s first deputy finance minister, Anar Karimov, reaffirming strong economic and strategic ties between the two countries, the statement added.

In the meeting, “he congratulated Azerbaijan on successfully hosting COP29 and highlighted the Pakistan-Azerbaijan Preferential Trade Agreement (January 2025) and Transit Trade Agreement (December 2024) as key platforms to diversify bilateral trade beyond oil and rice into textiles, pharmaceuticals, chemicals, machinery, and agricultural products”.


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PM Shehbaz announces reopening of new gas connections to domestic consumers

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Prime Minister Shehbaz Sharif announced on Sunday the reopening of new gas connections after a ban of nearly four years, state broadcaster Radio Pakistan reported.

His announcement comes less than two months after the federal cabinet decided in September to lift the ban on domestic gas connections and supply regasified liquefied natural gas (RLNG).

Speaking about the cabinet’s decision in a post-meeting press conference, Minister for Parliamentary Affairs Dr Tariq Fazal Chaudhry, flanked by Petroleum Minister Ali Pervaiz Malik, had said PM Shehbaz decided to lift the ban on new gas connections imposed in 2021, addressing a longstanding public demand.

Addressing a ceremony related to the resumption of RLNG connections in Islamabad today, the premier reiterated that the government’s decision was in response to the “long-standing public demand”.

“In 2022, there was immense public pressure for [new] gas connections but the government was facing challenges,” Radio Pakistan quoted him as saying.
But, “with this landmark decision, the public will now be able to access affordable and quality fuel,” he added.

“Now, RLNG will be supplied throughout the country to a large number of applicants,” a report by state-run APP quoted him as saying.

According to the reports, a video message by Malik was also played during today’s ceremony, in which the petroleum minister said the government was committed to providing maximum facilities to the public.

He added that the Sui Northern Gas Company had brought down its line losses to 4.93 per cent while earning a profit of Rs29 billion in the previous fiscal year.



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Pakistan Engineering Development Board gets new chief

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ISLAMABAD: After a gap of nine months, the government has appointed Hamad Ali Mansoor as the new chief executive officer (CEO) of the Engineering Development Board (EDB).

Mr Mansoor’s appointment, in the MP-I scale, is for a three-year term. The position had been vacant since January, and the recruitment process was initiated through an advertisement issued on Nov 17, 2024.

According to the Ministry of Industries and Production, a total of 248 applications were received. Thirty-three eligible candidates were shortlisted and interviewed by the selection committee in February. The committee recommended a panel of three candidates in order of merit: Hamad Ali Mansoor, Akhtar Ahmad Bughio and Shakeel Zahid.

Established in 1995, the EDB functions under the Ministry of Industries and Production to promote, facilitate and regulate the engineering sector in Pakistan.

Mr Mansoor holds an undergraduate degree in mechanical engineering and an MBA from the Schulich School of Business, York University, Toronto. He has over three decades of experience in industrial policy, manufacturing and infrastructure development, with a focus on renewable energy and sustainable growth.

Published in Dawn, October 26th, 2025



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PPP reaffirms commitment to farmers

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ISLAMABAD: The PPP has reiterated its commitment to supporting the farming community and vowed to continue its struggle to end all injustices faced by the farmers.

“PPP remains committed to respecting, empowering, and reviving the ag­­ricultural sector for a pr­­o­s­­perous Pakistan,” said the party’s Central Informa­tion Secretary Shazia Ma­­rri. She quoted PPP Chair­man Bilawal Bhutto-Zar­d­ari as saying that no economy can be strong if its farmers are weak.

“Chairman Bilawal Bhutto-Zardari believes that strengthening the farmer means strengthening Pakistan itself,” Ms Marri said in a statement issued on Saturday.

Ms Marri said that Bilawal Bhutto-Zardari’s vision was clear — the true measure of progress lies in the prosperity of farmers. She recalled that during the PPP government, Pakistan had moved from wheat shortage to becoming a wheat-exporting country, owing to farmer-friendly policies.

She said that the PPP chairman had always stood by the farmers, advocating for timely procurement and fair prices.

Highlighting the impact of climate change, the PPP leader said that it posed a serious threat to every Pakistani farmer. She added that Bilawal Bhutto-Zardari emphasised the need for investment in sustainable and climate-resilient agriculture, envisioning a modern agricultural economy where small farmers could progress through technology and access to fair markets.

She said the PPP believed that insurance, credit access, and transparent governance were essential to protect farmers from the adverse effects of climate change.

Ms Marri appreciated the government’s decision to allow wheat procurement, terming it a longstanding demand of the PPP. She added that approving the support price for wheat was also a PPP demand; however, she noted that fixing the price at Rs4,000 instead of Rs3,500 per 40kg would have been more beneficial for farmers. She further said that reducing the income tax from 45 per cent to 15pc was an important relief measure for the farming community.

Published in Dawn, October 26th, 2025



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