Shehryar Chishti on Thursday signed a Memorandum of Understanding (MoU) with Prince Mansour bin Mohammed al Saud for the sale of a majority stake in K-Electric to Saudi Arabia.
Chishti holds a significant stake in KES Power and in turn K-Electric, while Mansour is the chairman of the Saudi-Pakistan Joint Business Council. The agreement marks a major development in strengthened economic ties between Saudi Arabia and Pakistan.
If realized, the MoU will represent the largest Saudi investment in Pakistan’s power sector to date. It effectively paves the way for Saudi participation in the management and future strategic direction of K-Electric.
The leadership of both countries formally endorsed and congratulated the parties involved, recognizing the transaction as a milestone in advancing bilateral business-to-business collaboration and reinforcing Saudi Arabia’s growing commitment to Pakistan’s energy and infrastructure sectors.
Economic Collaboration
The MoU was signed while Prince Mansour and his 30-member delegation were visiting Sindh, where they met Sindh Chief Minister Murad Ali Shah and agreed to deepen economic collaboration between the province and the Gulf state.
During the meeting, per a statement, both sides discussed new opportunities for trade, energy, infrastructure, agriculture, and tourism. It marks a major step toward strengthening bilateral ties and advancing shared economic goals under Saudi Vision 2030.
The Sindh chief minister reaffirmed his government’s commitment to fostering long-term cooperation, highlighting Sindh’s Public-Private Partnership model as a proven framework for foreign investment. He said Sindh’s portfolio of $5 billion worth of investable projects reflected the province’s potential to serve as a driver of Pakistan’s economic growth.
“We invite our Saudi brothers to partner with us in Sindh’s development journey,” said Shah, adding his government was simplifying investment procedures, digitizing land records, and ensuring end-to-end facilitation for investors.
Appreciating Sindh’s investment potential, Prince Mansoor announced the creation of sector-specific subcommittees to target investment opportunities in areas of mutual interest. He said Saudi investors viewed Pakistan as a “gateway for regional trade” and recognized its importance in tourism, infrastructure, and privatization.
“Our business council has a long-standing record of cooperation,” he said. “We are here with investors from every major sector, ready to explore opportunities. Pakistan’s ongoing privatization process is a valuable opportunity for Saudi investors,” he added.
The Sindh government provided a detailed presentation to the visiting delegation, highlighting its economic strengths, highlighting opportunities in energy, water management, technology, logistics, and eco-tourism. Key projects presented included the Sindh Engro Coal Mining Company, Sino Sindh Resources Limited (Thar Block-I), Nabisar–Vajihar Water Supply Project, NED Technology Park, and the Hawks Bay and Keenjhar Lake Resorts.
The Saudi delegation praised Sindh’s PPP track record and existing partnerships with global institutions, including the World Bank, the Asian Development Bank, Shanghai Electric, Engro, and McKinsey, describing them as indicators of a stable, investor-friendly environment.
The two sides agreed to form joint working groups in priority sectors to ensure focused and sustainable progress on mutual goals. The meeting concluded with both sides reaffirming their resolve to enhance economic and trade cooperation between Pakistan and Saudi Arabia, aligning their shared vision for sustainable growth, innovation, and regional prosperity.