Stability in the external and fiscal sectors, along with large financial inflows, have helped Pakistan show a steady recovery in the first quarter of FY2024–25.

The October economic outlook from the Finance Ministry emphasizes encouraging developments, such as the 1.03 billion dollar first tranche from the IMF’s extended financial facility, which improves macroeconomic stability.

A 3.7 percent increase in total fertilizer production and a 115.9 percent increase in imports of agricultural gear are significant achievements.

In August 2024, large-scale manufacturing grew 4.7 percent month over month, even if it decreased by 0.2 percent in July and August of the same year.

September 2024 had a 44-month low of 6.9 percent consumer price index inflation, down from 31.4 percent the year before.

The establishment of “industrial parks” by the Pakistan Economic Zone Development and Management Company and the Special Investment Facilitation Council aims to attract investors and stimulate the economy.

First up is the Malir Industrial Park, which gives companies access to important trade and transportation channels. This park will be different from heavy industry parks in that it will concentrate on small industries and diverse industrial offices. Among Karachi’s industrial zones, it would be noteworthy for providing security and necessary infrastructure.

In order to lower unemployment, the initiative intends to generate more than 200,000 jobs in the first five years. To increase the advantages of the program, the Korangi Association of Trade and Industry will become a member of the Malir Industrial Park Advisory Council.

The park will have easy access to Karachi Port and Jinnah International Airport due to its strategic location at the convergence of key highways, such as the National Highway and Malir Motorway. This would guarantee effective access to both domestic and foreign markets.

He emphasised how closely Saudi Vision 2030 matches Pakistan’s main strategic goals, strengthening the basis for both countries’ development.

In terms of trade, investment, and economic development, both leaders reaffirmed their dedication to strengthening bilateral cooperation.

A recent visit by a high-level Saudi delegation headed by the Saudi Investment Minister, during which a number of Memorandums of Understanding (MoUs) were signed to strengthen the economic partnership, was mentioned by Prime Minister Sharif.

Along with talking about the economy, the two leaders acknowledged the serious damage caused by Israel’s continuous aggression in the area and voiced their profound worry about it.

Peace in Gaza is linked to global progress: PM

In his earlier speech to the 8th Future Investment Initiative (FII), Prime Minister Shehbaz emphasised the catastrophic situation in Gaza and stressed that the world would find it difficult to meet its developmental goals unless there was an immediate end to the violence.

Shehbaz, the Saudi prime minister

With the topic “Infinite Horizons: Investing Today, Shaping Tomorrow,” the FII brought together prominent individuals to discuss investments in important fields such as robots, artificial intelligence, education, energy, finance, healthcare, and sustainability.

Pakistan’s worries over the worsening situation in Gaza were highlighted by PM Sharif’s direct remarks, which also highlighted the necessity of international cooperation in fostering peace.