"Phase-wise Transition Underway in Saudi Governance, Finance Minister"
"Finance Minister Orangzeb Affirms Phase-wise Transition in Saudi System" Finance Minister Mohammad Orangzeb has stated that a phase-wise transition in the Saudi system is underway, with national reserves remaining stable. Speaking at the National Assembly session, Senator Orangzeb highlighted that many bank branches have converted to Islamic banking. The Islamic Shariat Court has provided a timeframe for the end of interest-based transactions. He mentioned that the country's stock exchange is at its highest level, with IT exports surpassing $2 billion. The IT sector has witnessed a significant increase in revenue. Orangzeb emphasized the need for an IMF program at this time, as the country will have to emerge from the upcoming IMF program. Friendly countries are also investing in Pakistan. He stated that the direction of the national economy is correct, but improvement is needed in the dairy and livestock sectors. Finance Minister Orangzeb added that the current account...