Saudi and Pakistani investors launch private equity fund
The Saudi-Pakistan Joint Business Council launched a new private equity fund in Islamabad on Monday to boost bilateral trade.
Fund allocation details revealed
Council officials stated the initial size is multi-hundred million and will expand based on sector opportunities. Three-quarters of capital targets Pakistan projects while the remainder supports Saudi Arabian ventures. The launch occurred as part of a wider push to deepen two-way private sector trade between the nations.
Key attendees sign agreement
Prince Mansour bin Mohammad Al Saud chaired the event alongside Pakistani co-chair Fawad Mukhtar from Fatima Group. Bank executives including Zafar Masud of The Bank of Punjab and Nassir Saleem of Habib Bank Limited attended in person. Virtual participants included Dr Gohar Ejaz of Lake City Group and Lord Zameer Choudrey of Bestway Group.
Recent diplomatic context noted
This move follows an August visit where the prince discussed agriculture, ports, highways and energy sectors with Prime Minister Shehbaz Sharif. The two nations also signed a joint defence agreement on August 7 involving Turkiye to strengthen regional security. Earlier in June Pakistan invited Saudi investors for the Sukkur-Hyderabad Motorway construction project expected to connect Karachi Port to Peshawar.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Dawn
- Business Recorder
Reported by
2 independent outlets. Headlines as published. Links open the original report.