The Saudi-Pakistan Joint Business Council (SPJBC) has signed a Memorandum of Understanding (MoU) to establish the Saudi-Pakistan Private Equity Fund, marking a new step in investment cooperation between the two countries.
The signing ceremony was attended by council members and business leaders from Saudi Arabia and Pakistan.
From Pakistan, Fawad Mukhtar, Co-Chair of the Council and Chairman of Fatima Group, joined virtually. Participants attending in person included Zafar Masud, President and CEO of The Bank of Punjab; Nassir Saleem, President and CEO of Habib Bank Limited; Yousaf Hussain, President and CEO of Faysal Bank Limited; and Maqsood Ismail, Director of Ismail Industries Limited.
Dr. Gohar Ejaz, Chairman of Lake City Group; Lord Zameer Choudrey, Chairman of Bestway Group; and Jawaid Iqbal, President and CEO of United Bank Limited, also joined virtually.
The Saudi delegation included His Highness Prince Mansour bin Mohammad Al Saud, Chairman of the SPJBC, along with the Council’s Vice Chairmen Mohammad bin Abdulaziz Al Ajlan, CEO of Al Ajlan Group, and Abdulaziz Bin Ali Al Ashrafi of Tayba Group.
Other Saudi participants included Dr. Mohammed Khan of RAEM Group, Zaid Al Sharif of Alsharif Group, Eng. Mohammed Al Mufarij, CEO of Saudi Meters Company, Dr. Mohammed Al-Sowaidan, CEO of International Investment Gare, Abdallah Al Muhnna, CEO of SAFA Investment, and Abdulrahman Ayedh Algahtani, CEO of Somuo Investment.
Russia Highlights National Unity and Stronger Pakistan Ties on People’s Unity Day
The delegation also included Hani Baothman, CEO of Bin Dawood Investment; Ghassan Amoudi, CEO of ASYAD Group; Feras Albakri of Albakri Group; Barrister Habil Ahmed Khan, CEO of Welt Konnect; and Mansour Chaudhry, CEO of Barq Pakistan.
Equal Contributions and Investment Allocation
The SPJBC was established by the governments of Saudi Arabia and Pakistan, in coordination with the high-level committees of both countries, to strengthen private-sector trade and investment.
According to the announcement, the proposed fund emerged from a series of Council meetings. It is expected to have an initial size of several hundred million, with the potential to expand as investment opportunities develop across different sectors.
Saudi and Pakistani private investors will contribute equally to the fund. The proposed allocation will direct 75% of investments towards projects in Pakistan and the remaining 25% towards projects in Saudi Arabia.
Focus on Agriculture, Mining and Infrastructure
The fund plans to invest in high-growth private businesses, particularly in agriculture, mining and industries such as construction.
It will also explore commercial opportunities linked to the Government of Pakistan’s programme to monetise its land bank. Potential areas include airport development, motorways, ports and maritime infrastructure.
The initiative aims to unlock the economic value of under-utilised public land through commercially structured and transparent investments.
In Saudi Arabia, the fund will explore commercial investment opportunities across the Kingdom, including in its holy cities.
The MoU also allows institutions from both countries to participate in the equity of the fund management company.
Saudi Leadership Highlights Investment Partnership
Speaking at the signing ceremony, SPJBC Chairman His Highness Prince Mansour bin Mohammad Al Saud said the relationship between Saudi Arabia and Pakistan was rooted in longstanding friendship and shared ties.
He said the proposed fund would give the relationship a stronger commercial foundation and provide opportunities for investors from both countries to work together.
Prince Mansour described Pakistan as a natural partner for Saudi Arabia and said Saudi investors were looking for reliable partners and markets with growth potential.
He added that the initiative would translate years of discussions and assessments into practical investments benefiting both countries.
Arif Habib Calls Fund a Vote of Confidence
Arif Habib described the proposed fund as a vote of confidence in Pakistan’s investment opportunities.
He said the agreement demonstrated that investors were prepared to pursue opportunities in Pakistan and that Pakistani investors were committing capital alongside their Saudi counterparts.
He also highlighted the potential of government land monetisation, saying that directing investment towards under-utilised public assets could turn them into productive economic resources.
Arif Habib thanked Prince Mansour and other participants from both countries for their efforts in bringing the initiative forward. He described the fund as an initial step towards strengthening the confidence of Saudi and other international investors in Pakistan.
Regulatory Approvals and Next Steps
The establishment of the fund will be subject to the regulatory requirements of the governments of Saudi Arabia and Pakistan.
Once the necessary approvals are secured, both sides will proceed with the fund’s structuring and initial investments.
The agreement marks another development in Saudi-Pakistan economic cooperation, seeking to translate longstanding bilateral relations into joint investment opportunities and commercial partnerships.
