- Business community appreciates Saudi deposits in State Bank of Pakistan
Interview with Mr. S. Khalid Tawab — Chairman, Tawab Group of Companies
Khalid Tawab, Sitara-e-Imtiaz, is a well-known leader of the business community. Born and raised in Karachi, Khalid Tawab has served at various prestigious positions. He is a proven hard worker. From his humble beginning in steel and iron trade, today Khalid Tawab is the Chairman of Tawab Group of Companies. Tawab Group has a large portfolio which includes steel, paper, board paper, construction and equities. In recognition of his remarkable success, Mr. Khalid Tawab was honoured to receive Sitara-e-Imtiaz from the President of the Islamic Republic of Pakistan.
He has served in various key positions in several companies. Over his 30 years of professional career, S. Khalid Tawab has served as Minister for Industry & Commerce Government of Sindh, Senior Vice President FPCCI, Vice President FPCCI. Senior Vice President Karachi Chamber of Commerce and Industries, Acting President Karachi Chamber of Commerce and Industry and various other key positions, such as Chairman Ports and Shipping, in the Federation of Chamber of Commerce and Industries and several other associations.
He has also served in various advisory committees formed to aid and advice the government. He has served in key positions in Academic Committee of Technical Education (Sindh), Citizens Police Liaison Committee (CPLC, Sindh), and Employers Federation of Pakistan. Railway Advisory Committee, Power Rate Advisory Committee, Sindh Industries and Mineral Development Advisory Council, Provincial Industrial Facilities Board (Sindh), Pakistan Shippers Council among others,
Khalid Tawab also contributes to social work and is a member of the Board of Kidney Centre Patient Welfare Association and also served in Boards of the prestigious educational institutions such as Lahore University of Management Sciences (LUMS) and Institute of Business Administration (IBA. Karachi).
In contribution of his services to Pakistan, he was also honoured to receive Honorary Doctorate from the University of Karachi. He is also the Honorary Consul General of the Republic of Mozambique.
A Pakistani by heart and soul, S. Khalid Tawab is a compassionate person always ready to serve. He aspires to see a developed and prosperous Pakistan.
PAGE: How would you comment on the bilateral relationship between Pakistan and Saudi Arabia?
Khalid Tawab: The bilateral relations between Pakistan and Saudi Arabia have consistently shown promise across various sectors, signaling the need for further expansion, particularly through joint ventures. Pakistan has notably benefited from significant foreign exchange earnings, with Saudi Arabia ranking at the top of the list of trading partners. Recent exchanges of dignitary visits have invigorated the business communities of both countries, and the signing of Memorandums of Understanding (MoUs) aimed at expanding bilateral relations instills greater confidence in potential investors from both sides.
PAGE: What is your standpoint on the Saudi investment in energy, IT, banking and mining sectors in Pakistan?
Khalid Tawab: Saudi Arabia’s investments in Pakistan hold substantial potential, serving as a catalyst for attracting investments from other nations, particularly in vital sectors such as energy, information technology (IT), textiles and textile manufacturing, communication systems, construction, infrastructure development, shipping, airlines, and agriculture. Banking sector is one of the highly potential sectors for foreign investors and Saudi investors can drive benefits from this sector
PAGE: Food security has become a perennial stumbling block for the entire world. How could Pakistan benefit from Saudi investment in agriculture sector?
Khalid Tawab: In particular, Saudi investment in Pakistan’s agriculture sector has the potential to bring about transformative changes, provided it is coupled with robust research and development initiatives. This synergy could offer numerous benefits to Saudi investors. Pakistan boasts fertile agricultural land and a diligent farming community, making it an ideal location for agricultural investments. Additionally, this investment could spur growth in sectors associated with agriculture, including the production of pesticides, tractors, water pumps, and motors. These multifaceted economic relations hold immense promise for both Pakistan and Saudi Arabia, fostering mutual growth and collaboration across various industries. With a focus on research, development, and strategic partnerships, the potential for long-term economic success in this bilateral relationship is substantial.
PAGE: What is your take on Saudi deposits in SBP to shore up foreign exchange reserves?
Khalid Tawab: Saudi deposits have helped Pakistan to keep its economy moving on. The business community is thankful to Saudi Arabia for her deposit in State Bank which has also helped economic health of Pakistan.