The PIF was established with the mandate to support Pakistani business interests and boost trade relations between Pakistan and Saudi Arabia.

Bashir Ahmed Chaudhary, PIF finance chief, said that the forum, of late, has taken several initiatives. One of them is the PIF’s plan to work closely with the Saudi Arabian General Investment Authority (SAGIA), Chaudhary added. To this end, it is important to note that Pakistan recently conferred its highest civil award — the Sitara-e-Imtiaz — on Dr. Amr Al-Dabbagh, SAGIA governor for his achievements and contributions to strengthening Saudi-Pakistan relations.

SAGIA has facilitated more than 300 Pakistani businessmen in various investment projects in the Kingdom. Accepting the award, Al-Dabbagh said that “the conferment of the award is a reflection of strong relations between the two friendly Muslim countries.”

He said that Saudi Arabia could make use of the human capital available in Pakistan for its development projects and Saudi businessmen should also find new areas for investments in Pakistan.

Referring to the future events to be organized by the PIF, Chaudhary said that the forum would organize a high-profile seminar on Saudi economy with special reference to Pakistan shortly. It said that the forum had emerged as a strong platform for Pakistani businesspersons, companies operating in Saudi Arabia and Saudi companies doing business with Pakistan. The forum, which also acts as a nonofficial coordinating body between the two countries, functions in close cooperation with the Pakistan Embassy under the stewardship of Pakistan’s Ambassador Umar Khan Alsherzai.

The PIF has also announced plans to set up “Special Interest Groups” to promote investment interests in construction, power, IT and telecommunications sectors. The forum is also working to generate awareness about local business laws, assist all interested investors and explore business opportunities for Saudi and Pakistani investors in both countries. Major PIF’s objectives also include promotion of Saudi commercial interests and interaction with apex Saudi business organizations.