Pakistan and Saudi Arabia enjoy close fraternal relations, which are strengthened by bonds of religion, culture and history: Ishaq Dar

Islamabad, May 13, 2014 (PPI-OT): Dr. Abdul Aziz Al-Ghadeer, Ambassador of Kingdom of Saudi Arabia paid a farewell call on the Federal Minister for Finance, Senator Ishaq Dar at the Finance Ministry today.

The Finance Minister Senator Ishaq Dar said that Pakistan and Saudi Arabia enjoy close fraternal relations, which are strengthened by the bonds of religion, culture and history. He appreciated the role of Ambassador in cementing trade and economic relations between the two brotherly countries.

He recognized the hard work and contribution the outgoing Ambassador has made, during his term, in enhancing the mutual relations. He added that may it be floods or earthquakes, the Saudi friends are always with the people of Pakistan.

He informed the Ambassador that through prudent macro-economic management, austerity measures, resorting to external sources of funding and retiring domestic debt obligations, the Government has been successful in putting the economy on the stable growth trajectory.

He said that these measures have resulted in restoring the investor’s confidence in Pakistan’s economy which has also helped in over-subscription of Euro bonds. The Finance Minister also informed that Pakistan will issue an Islamic bond denominated in dollars for Islamic banking institutions and funds.

The Ambassador expressed his confidence that the priority and focus attached to the economy by the government of Prime Minister Nawaz Sharif will continue to bring positive results for the nation. While appreciating economic progress Pakistan has made so far, the Ambassador said to the Finance Minister, “it is important that you have achieved a lot for your country.” The Saudi Ambassador added that we are like one nation and assured the Finance Minister that Saudi Arabia will continue to stand by the people of Pakistan through thick and thin.

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