Pakistan Aims for G20 Membership with Economic Reforms, Says Ishaq Dar

ISLAMABAD – Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar highlighted Pakistan’s economic recovery and investment potential, aiming to position the country for eventual inclusion in the G20. Speaking at the Pakistan-Saudi Business Forum, Dar emphasized the government’s efforts toward sustainable growth, following setbacks caused by the COVID-19 pandemic and various internal and external challenges.

During his keynote address, Dar reminisced about Pakistan’s achievements in 2017, when it ranked as the 24th largest economy with low inflation, robust GDP growth, and record foreign reserves. He affirmed that the current administration is working to revive the economy and continue on the path to joining the G20.

The forum coincided with a visit from a high-ranking Saudi delegation led by Minister for Investment Engineer Khalid Bin Abdulaziz Al-Falih. The visit, which includes representatives from government bodies and private sectors, focuses on exploring investment opportunities and signing agreements across diverse industries.

Dar also highlighted the strong, enduring ties between Pakistan and Saudi Arabia, rooted in shared history and values. He expressed gratitude for Saudi Arabia’s consistent support during Pakistan’s economic difficulties and reaffirmed Pakistan’s commitment to standing by the Kingdom. He also acknowledged the role of the 2.5 million Pakistanis working in Saudi Arabia, contributing both to Saudi development and Pakistan’s remittances.

Referring to the visit as a “pivotal moment” in bilateral relations, Dar underscored the government’s dedication to economic reform, tax expansion, and increased private sector investment. He mentioned Pakistan’s efforts to privatize state-owned enterprises and pursue an IMF-supported home-grown economic program aimed at restoring macroeconomic stability.

Dar noted that the government’s difficult but necessary decisions were producing positive results, with improving economic indicators such as lower inflation, a reduced current account deficit, and improved investor confidence. He also invited Saudi investors to explore Pakistan’s potential in sectors like mining, IT, agriculture, and renewable energy, expressing optimism that the forum would yield substantial benefits for both nations.

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