KARACHI: In a major boost to Pakistan–Saudi economic cooperation, the Government of Sindh and a high-level Saudi business delegation on Thursday signed two landmark Memorandums of Understanding (MoUs) aimed at expanding collaboration in energy and investment.
The agreements were signed during a ceremony hosted by Chief Minister Syed Murad Ali Shah at the Chief Minister’s House, attended by Prince Mansour bin Mohammed Al Saud, Chairman of the Saudi-Pak Joint Business Council, and a 30-member Saudi delegation representing leading investors and business groups.
The first MoU pertains to the sale and purchase of shares in KES Power Ltd, the parent company of K-Electric, while the second was signed between K-Electric Ltd and Trident Energy Ltd to explore strategic cooperation in power generation, renewable energy, and infrastructure development. The accords come on the heels of K-Electric’s oversubscribed retail Sukuk offering, reflecting renewed investor confidence in Pakistan’s energy sector.
Chief Minister Shah welcomed the Saudi delegation, highlighting Sindh’s position as a prime investment destination with vast opportunities in energy, agriculture, livestock, mining, infrastructure, and food security. He showcased the province’s successful Public-Private Partnership (PPP) model, which has delivered major social and infrastructure projects.
Both sides agreed to form joint working groups in priority sectors to ensure sustained progress. Shah underscored the importance of fostering both government-to-business (G2B) and business-to-business (B2B) collaboration to drive innovation and technology transfer.
Prince Mansour lauded the Sindh government’s hospitality and praised Karachi’s “promising business environment,” announcing the creation of sector-specific sub-committees to identify investment opportunities. “Pakistan holds immense potential as a regional trade gateway and an emerging hub for tourism and industry,” he said, describing the visit as the beginning of a new era in Saudi–Pakistan economic relations.
Sindh officials presented a comprehensive investment portfolio worth over $5 billion, highlighting projects such as the Sindh Engro Coal Mining Company, Sino Sindh Resources’ Thar Block-I project, Nabisar–Vajihar Water Supply Scheme, NED Technology Park, and tourism initiatives including Hawks Bay Beach Resort and Keenjhar Lake Resort.
Chief Minister Shah reaffirmed his government’s commitment to streamlining investment procedures, digitizing land records, and ensuring seamless coordination with federal institutions to maintain a business-friendly environment.
The high-profile engagement marks a pivotal milestone in strengthening Saudi–Sindh economic ties, aligning with Saudi Vision 2030 and Sindh’s vision for sustainable, inclusive development.
The ceremony was attended by provincial ministers Dr. Azra Fazal Pechuho, Sharjeel Memon, Nasir Shah, Saeed Ghani, Makhdoom Mahboobzaman, Jam Khan Shoro, Jam Ikram Dharejo, and Mukesh Chawla, along with senior officials and business leaders.
