Promote investment in industrial and agro-based projects with high value addition, export potential, and maximum utilization of indigenous resources. Build and manage a diversified equity portfolio promising optimum return. Mobilize funds in a cost effective manner to meet our financing needs Achieve sustainable growth and be competitive in our commercial operations. Undertake investment advisory services and formation / participation in financing syndicates.
To excel in performance and play a leading role in the financial sector in Pakistan.
Saudi Pak aims at strengthening economic cooperation between the brotherly people of Saudi Arabia and Pakistan. To achieve this objective, we are committed to add value for our stakeholders through capital formation and investment related activities in Pakistan and abroad.
On behalf of the Board of Directors, I would like to present the 39th audited financial statements of Saudi Pak Industrial and Agricultural Investment Company Limited as well as consolidated accounts together with Auditors’ Report to Members and the Directors’ Report for the year ended December 31, 2020.
As Pakistan began to emerge from the economic challenges experienced during 2019, it was confronted by the global COVID-19 pandemic. The Government of Pakistan adopted measures such as nationwide lockdowns, social distancing and travel restrictions for containing the virus. This disrupted manufacturing, retail, transport and trade-related activities which had a severe effect on macroeconomic indicators of the country. For the first time in 68 years, Pakistan’s real GDP recorded a negative growth of 0.4 percent for FY20. To support the economy, the federal government announced a stimulus package of Rs. 1.2 trillion, and the State Bank of Pakistan (SBP) slashed the policy rate from 13.25% to 7%, while simultaneously introducing various relief measures such as Loan Extension and Restructuring Package. Private sector credit to businesses maintained a downward trajectory for most of the year, and gross infection ratio of the banking sector touched 9.9% by Sep-20, from 8.6% as on start of year. Capital markets remained highly volatile.
Sultan M. Hasan Abdulrauf