Economic Diplomacy Ushers in New Era of Prosperity, Says Business Leader

Karachi: Mian Zahid Hussain, a prominent figure in Pakistan’s business community, has praised the diplomatic endeavors of Prime Minister Mian Shehbaz Sharif and Chief of Army Staff Field Marshal Asim Munir, attributing recent economic advancements to their joint efforts. Hussein’s remarks highlight a shift towards economic diplomacy, which he believes promises long-term prosperity for Pakistan.

Addressing a gathering of businessmen, Hussain underscored the transformative impact of Pakistan’s foreign policy pivot. He noted that the leadership’s strategic focus has resulted in substantial economic opportunities, particularly with a $10 billion investment commitment from Saudi Arabia and the UAE. This investment is poised to enhance Pakistan’s energy and agriculture sectors, thereby boosting employment and foreign reserves.

Hussain pointed out a notable increase in exports to Saudi Arabia, which have climbed by 22%, now exceeding $700 million. The Strategic Mutual Defence Agreement with Saudi Arabia was also highlighted as a key factor in creating a stable investment environment.

He commended the government’s efforts to diversify economic partnerships, citing the Prime Minister’s successful visit to Malaysia. The trip resulted in five significant Memoranda of Understanding (MoUs) in the sectors of tourism and halal certification.

Hussain also emphasized the upgraded relationship with the United States, which has shifted focus from aid to strategic investment and trade, strengthened through proactive engagement with President Trump. This new dynamic has positioned Pakistan favorably against India, with a lower tariff rate of 19 percent compared to India’s 50 percent.

In conclusion, Hussain expressed confidence that the collaboration between the Prime Minister and the Army Chief has positioned Pakistan as an attractive investment destination, with full backing from the business community to foster economic growth across the nation.