- Investments in renewable energy and technology can diversify Pakistan’s economy, reduce energy reliance and foster sustainable growth
Interview with Mr. Muhammad Ovais — management professional
PAGE: Tell me something about yourself, please:
Muhammad Ovais: I am a result-oriented management professional with a robust foundation in psychology and technology, boasting a proven track record of driving impactful outcomes across diverse industries. Over the span of three decades, I have consistently taken on multifaceted roles and delivered on project objectives, ensuring the utmost satisfaction of stakeholders. Throughout this journey, I have not only contributed to organisations’ success but have also been an influential figure in academia, having engaged in teaching and training roles at prestigious institutions and professional bodies.
My expertise extends to international programmes supported by esteemed institutions like the World Bank, IMF, and USAID. Moreover, I have had the privilege of conducting training sessions for senior officers within the armed forces, law enforcement agencies, government officials, multinational corporations, INGOs, and local organisations.
PAGE: How would you comment on the trade between Pakistan and Saudi Arabia?
Muhammad Ovais: The trade relationship between Pakistan and Saudi Arabia is built on mutual interests and longstanding ties, primarily driven by energy and labour exports. Saudi Arabia has traditionally been a key supplier of crude oil to Pakistan, while Pakistan provides labour and skilled professionals to the Saudi market. There is potential for diversification, particularly in sectors like agriculture, technology, and infrastructure. Strengthening this trade partnership could bring significant economic benefits to both countries, fostering deeper ties in a rapidly evolving global economy.
PAGE: How handy are the remittances being sent by the Pakistani diaspora from Saudi Arabia to Pakistan?
Muhammad Ovais: Remittances from the Pakistani diaspora in Saudi Arabia play a vital role in Pakistan’s economy. They contribute significantly to Pakistan’s foreign exchange reserves, helping to balance the current account deficit. These remittances also provide financial stability to millions of families back home, supporting education, healthcare, and local businesses. In essence, the funds sent by Pakistani workers from Saudi Arabia are an essential economic lifeline, contributing directly to economic growth and social welfare.
PAGE: What is your take on investment by Saudi Arabia in Pakistan?
Muhammad Ovais: Investment by Saudi Arabia in Pakistan is a promising development that could greatly enhance economic cooperation between the two countries. Saudi Arabia’s interest in investing in sectors like energy, infrastructure, and agriculture has the potential to stimulate growth in Pakistan’s economy, create jobs, and strengthen bilateral ties. Additionally, investments in renewable energy and technology could help Pakistan diversify its economy, reduce its energy dependence, and promote sustainable growth.
PAGE: Saudi Arabia has undertaken several steps to help Pakistan strengthen its economy. Your perspective:
Muhammad Ovais: Saudi Arabia has been a key ally in supporting Pakistan’s economy, particularly through financial aid, deferred oil payments, and investments in infrastructure projects. These steps have provided crucial relief to Pakistan’s economy during challenging times, especially in terms of stabilising foreign reserves and reducing the fiscal deficit. The continuation of such support, coupled with strategic long-term investments, could be instrumental in helping Pakistan achieve sustainable economic growth and development.