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KSA to invest in Pakistan’s energy and mining sectors

In this file photo, Imran Khan meets the Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Falih. (SPA)
Updated 06 January 2019
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KSA to invest in Pakistan’s energy and mining sectors

  • Islamabad delegation to explore trade opportunities during January 12 Riyadh visit
  • Business community appreciates Kingdom’s role in extending financial support
Updated 06 January 2019
Naimat Khan

KARACHI: With an eye on further strengthening the bilateral and trade ties between Riyadh and Islamabad, the Kingdom will soon be undertaking renewable energy projects in Pakistan, officials said on Sunday.

A. Q. Khalil, former president of Karachi Chamber of Commerce and Industry (KCCI), quoted the Saudi Advisor for Energy & Mineral Resources, Ahmad Al Ghamdi, when he discussed the matter with Arab News.

Khalil was part of the KCCI team which met with the Saudi delegation. He added that Saudi company, ACWA Power, would soon be visiting Pakistan to introduce its renewable energy technologies.

“We have also discussed the investment opportunities in Pakistan’s mining sector and in this regard, a Memorandum of Understanding is at final stage which will soon be signed between the countries, signifying the commencement of new relations between Pakistan and Saudi Arabia,” Al Ghamdi told the Pakistani businessmen.

He suggested that businessmen from both countries could meet more frequently and participate in trade promotional events in Saudi Arabia and Pakistan.

Al Ghamdi said that the businessmen from Saudi’s private sector were unaware of the opportunities in Pakistan and hesitant to invest in the country due to security concerns. “If we keep saying Pakistan is safe and secure, they will not believe us. However, if someone from Pakistani government comes and guarantees about the safety and security, besides extending full support of the Pakistani government, Saudi investors will certainly get a strong signal for making an investment,” a statement released by the KCCI quotes Al Ghamdi as saying.

Referring to a recent meeting which took place during Prime Minister Imran Khan’s visit to Saudi Arabia,  Al Ghamdi said that Khan was particularly focused on visa issues – something which had also been raised by other top leaders from Pakistan.

“Saudi Arabia is now going through a transformation as many new things and rules have been introduced which will hopefully be beneficial for Pakistan and Saudi Arabia. The ease in issuance of visas is also being discussed, particularly the tourism visa so that people could be encouraged to explore tourism in Saudi Arabia,” he said, adding that “we would like to get some of the very good Pakistani products in Saudi Arabia and would also like to improve Saudi exports to Pakistan as we want to create a win-win situation for both countries.”

President KCCI, Junaid Esmail Makda said that a KCCI delegation will be leaving for Saudi Arabia on January 12 to explore trade opportunities.

Makda said that Pakistan and Saudi Arabia share healthy bilateral relations based on cooperation in different economic spheres, particularly trade and investment. “In recent years, both countries have developed plans to expand bilateral cooperation in trade, education, real estate, tourism, information technology, communications, and agriculture.

He also appreciated the Kingdom for providing $3 billion as financial support to Pakistan in order to address the country’s balance of payments crisis, in addition to a one-year deferred payment facility for the import of oil worth $3 billion. He mentioned that during 2017, goods worth $400.8 million were exported to Saudi Arabia while the imports stood at $2.73 billion, indicating a trade balance which was in favor of Saudi Arabia by $2.32 billion.

While highlighting the huge potential to enhance trade and investment ties, Makda told the Saudi delegates that Pakistan's investment policy provides a comprehensive framework and a conducive business environment. It entails reducing the cost of doing business, eases the processes of doing business, and emphasizes the creation of industrial clusters and Special Economic Zones.

Saudi companies can choose between setting up a liaison office, branch office or incorporate a Pakistani company as either it’s a wholly-owned subsidiary or joint venture with a Pakistani/overseas partner, he said. “It is the right time to invest in Pakistan and capitalize on the widespread opportunities available,” he stressed.

While appreciating the investment gestures from Saudi Arabia, Khalil told Arab News that Pakistan has huge resources which needs to be explored and countries from the Islamic bloc, especially Saudi Arabia, should take the initiative in this regard.

Experts say the future of Pakistan lies in the renewable energy sector and that the Kingdom’s interest in alternative energy projects is a step in the right direction. “It is a timely offer from a brotherly country, which is a friend in need for Pakistan,” Sajiz Aziz, an energy expert, told Arab News.

He added: “Pakistan is the signatory of the Kyoto protocol, which requires the countries to phase out all the conventional sources of energy, like furnace oil and coal, and move towards using green energy, including solar power, wind power, biogas and kinetic and all other sources with no omission.”

Topics: Pakistan Saudi Arabia Pakistan-Saudi relations Mining Riyadh Islamabad

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68-member Belarusian delegation arrives in Pakistan to strengthen economic ties

Updated 5 sec ago
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68-member Belarusian delegation arrives in Pakistan to strengthen economic ties

  • Belarusian President Aleksandr Lukashenko will reach Islamabad for three-day visit on Monday
  • Several agreements and memorandums of understanding are expected to be signed during the visit
Updated 5 sec ago
Arab News Pakistan

ISLAMABAD: A high-level Belarusian delegation arrived in Pakistan on Sunday as the two countries prepare to deepen bilateral economic collaboration, with the president of the Eastern European state, Aleksandr Lukashenko, scheduled to reach Islamabad tomorrow.
The 68-member delegation, which includes key Belarusian ministers, was received at Islamabad airport by Interior Minister Mohsin Naqvi and officials from Pakistan’s foreign ministry.
Pakistan and Belarus established diplomatic ties in 1994 and have since worked to strengthen their relationship, with recent efforts focusing on industrial and technological collaboration, trade and investment.
Belarus exports machinery, fertilizers and synthetic yarn to Pakistan, while Pakistan provides textiles, leather goods and surgical instruments to Belarus.
“On behalf of the government and people of Pakistan, we warmly welcome the Belarusian delegation,” Naqvi said in a statement circulated by the interior ministry, as he interacted with the foreign dignitaries.
“This visit is of great importance for strengthening bilateral relations and fostering collaboration in various sectors, including industry and trade,” he added.
According to Pakistan’s foreign office, the delegation includes 43 business leaders and 25 ministerial officials. It is led by Foreign Minister Maxim Ryzhenkov, who is accompanied by colleagues holding portfolios in energy, industry, justice, communications, natural resources and emergency situations.
The chairman of Belarus’s Military Industry Committee is also part of the group.
The visit of the delegation marks another step in enhancing bilateral ties, with both countries aiming to explore new avenues of cooperation.
The foreign office said in a statement on Thursday “President Lukashenko will hold extensive talks with Prime Minister Muhammad Shehbaz Sharif and discuss areas of bilateral cooperation and engagement.”
“Several agreements and MoUs [memorandums of understanding] will also be signed during the visit,” it added.
Naqvi also emphasized the significance of the visit, hoping it would further solidify the relationship between our two countries.
 

Topics: Pakistan Belarus Ties

Pakistan shuts down schools in Islamabad amid opposition party’s protest call

Updated 45 min 54 sec ago
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Pakistan shuts down schools in Islamabad amid opposition party’s protest call

  • Capital administration says closure applies to all public and private educational institutions
  • Such closures have been a recurring practice during times of political unrest, high-profile visits
Updated 45 min 54 sec ago
Arab News Pakistan

ISLAMABAD: Authorities in Islamabad announced on Sunday that all educational institutions in the federal capital will remain closed tomorrow, citing the ongoing situation linked to a protest call by former prime minister Imran Khan to his party supporters.
The decision comes as leaders and workers of Khan’s Pakistan Tehreek-e-Insaf (PTI) continue their march to the city, demanding the release of the ex-premier and protesting alleged election rigging and perceived threats to judicial independence.
“The decision to close schools has been taken in view of the current circumstances,” the Islamabad Capital Territory administration said in a statement.
It added that the closure applies to all public and private educational institutions in the city.
Such closures have become a recurring practice in Islamabad during times of political unrest or high-profile visits by foreign dignitaries. Pakistani authorities also shut down schools and colleges during the Shanghai Cooperation Organization (SCO) Summit in October.
Officials have intensified security measures in the capital, deploying police and paramilitary personnel equipped with riot gear across the city and sealing key roads with shipping containers to prevent protesters from entering the federal capital.
Additionally, mobile Internet services have been suspended, and Wi-Fi connections remain slow in Islamabad.

Topics: Islamabad school closed PTI protest

Pakistan vows order as Imran Khan’s party launches protest before Belarusian president’s arrival

Updated 24 November 2024
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Pakistan vows order as Imran Khan’s party launches protest before Belarusian president’s arrival

  • Deputy PM questions PTI motives, calling protest march ‘conspiracy’ against Pakistan’s honor
  • Interior Minister Mohsin Naqvi asks Ali Amin Gandapur to prioritize stability in his own province
Updated 24 November 2024
SAIMA SHABBIR & WASIM SAJJAD

ISLAMABAD/PESHAWAR: Tension continued to mount in Pakistan on Sunday as the government vowed to prevent any disruption in Islamabad during a high-level visit by the Belarus president, as supporters of jailed former prime minister Imran Khan began marching to the capital to demand his release.
Khan’s Pakistan Tehreek-e-Insaf (PTI) party is spearheading a “long march” to the capital after more than a year of his incarceration on charges he claims are politically motivated. The party is also protesting alleged rigging in February’s general elections and raising concerns about judicial independence, which it says has been undermined by recent constitutional amendments, a claim the government denies.
Security in Islamabad has been tightened, with paramilitary forces deployed and major roads sealed with shipping containers. The interior ministry has suspended mobile data services in sensitive areas, and highways have been blocked to thwart the arrival of protesters.
Addressing the media in Islamabad, Interior Minister Mohsin Naqvi criticizing PTI’s timing ahead of the three-day visit of Belarusian President Aleksandr Lukashenko to discuss for bilateral economic cooperation.
“Protecting the lives and property of citizens is a priority,” he said. “Disruption during the arrival of foreign guests will not be tolerated under any circumstances. Anyone spreading chaos will be arrested.”
Naqvi also urged Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, a close aide of ex-PM Khan, to prioritize stability in his own province instead of staging protests, calling such demonstrations harmful to national interests.
He also informed the authorities had detained “extremists” in Islamabad.
Pakistan’s Deputy Prime Minister Ishaq Dar also questioned PTI’s motives, describing its protest as “a deliberate conspiracy against the country’s honor and dignity.”
Earlier, Planning Minister Ahsan Iqbal accused Khan’s party of attempting to disrupt Pakistan’s economic recovery by launching a demonstration right ahead of the Belarusian president’s visit.
“I am hopeful this drama will end tonight, and normalcy will return,” he said at a press conference in Lahore.
Iqbal defended the government’s strict measures, highlighting its responsibility to ensure law and order.
Meanwhile, residents of Islamabad said they were already grappling with disruptions. Mohammad Hayat, a 32-year-old fruit vendor, lamented the impact of the ongoing political friction between the government and the opposition party on his livelihood.
“Since morning, I haven’t had a single customer. Roads are blocked, people can’t come out, and my fruit is perishing,” he said.
Another resident, Sayyed Sarmad from E-16 sector, criticized the road closures, claiming, “A girl died in an ambulance yesterday. The government should allow protests but manage them better.”
PTI leaders also remained resolute as caravans from KP headed toward Islamabad.
Asif Khan, a party lawmaker, declared “we will go to our destination at any cost,” highlighting transportation challenges as booked vehicles were allegedly blocked. “We arranged vehicles from other districts and captured videos to show our strength,” he added.
Iman Tahir, a women’s leader from Attock, underscored the movement’s peaceful nature.
“We have always been peaceful and will go peacefully this time again,” she said. “Today, all of Pakistan will rise, and Khan’s final call will be a successful one.”
Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, leading the rally, reiterated his commitment while traveling in official protocol.
“We are going to D-Chowk at any cost, and we will not return before reaching D-Chowk,” he said at the Peshawar Motorway toll plaza, referring to an iconic spot in Islamabad that has witnessed political protests for decades.
Another PTI lawmaker, Arbab Sher Ali, echoed the party’s determination to reach the federal capital, saying, “We are instructed to reach Islamabad and are following Khan’s directives. If we can’t reach today, we will reach tomorrow or the day after.”
PTI leaders have hinted at an indefinite sit-in in Islamabad, saying the will not return until their demands are met by the government.

Topics: PTI protest Islamabad Pakistan Belarus Ties Belarus president Imran Khan

Pakistan vows to facilitate Chinese investors in Special Economic Zones

Updated 24 November 2024
Shahjahan Khurram 
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Pakistan vows to facilitate Chinese investors in Special Economic Zones

  • China, a major ally of Islamabad, has pledged $65 billion for a massive economic corridor project in Pakistan
  • Chinese investment and financial support since 2013 have been key for Pakistan’s struggling, fragile economy
Updated 24 November 2024
Shahjahan Khurram 

ISLAMABAD: Pakistan’s Privatization Minister Abdul Aleem Khan promised to facilitate Chinese investors in Special Economic Zones (SEZs), state media reported this week as Islamabad eyes foreign investment in vital sectors to sustain growth and avoid a macroeconomic crisis.
SEZs are usually subject to different and more favorable economic regulations compared to other parts of the same country, which include tax incentives and the opportunity to pay lower tariffs.
China, a major ally and investor in Pakistan, has pledged over $65 billion in investment in road, infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC) project. CPEC is a part of the Belt and Road Initiative, a massive China-led infrastructure project that aims to connect various countries around the globe through trade. 
“Federal Minister for Privatization and Communications Abdul Aleem Khan says the Board of Investment will provide all facilities to Chinese investors including sale and transfer of land in Special Economic Zones,” Radio Pakistan reported on Saturday. 
Khan, as per the state-run media, was presiding over a meeting in Lahore to discuss difficulties being faced by investors in SEZs. 
“He directed to resolve all problems being faced in the Special Economic Zones across the country,” the state broadcaster said. 
Chinese investment and financial support since 2013 have been key for Pakistan’s struggling economy, including the rolling over of loans so that Islamabad is able to meet external financing needs at a time its foreign reserves are low.
Though time-tested allies, recent security challenges have put a slight strain on Pakistan’s ties with China. Separatist militants have attacked Chinese projects in Pakistan over the past few months, killing Chinese personnel.
In October, a suicide blast claimed by the separatist Balochistan Liberation Army (BLA) killed three people in Pakistan’s southern port city of Karachi, including two Chinese nationals, who were targeted in the attack.
Five Chinese workers were killed in a suicide bombing in March this year, which was the third major attack on Chinese interests in Pakistan in a week.
China has called on Islamabad to ensure security for its citizens in Pakistan. The South Asian nation has in turn sought to ease Chinese fears, vowing to provide fool-proof security to its citizens living and working in the country.

82 killed in three days of Pakistan sectarian violence

Updated 24 November 2024
AFP
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82 killed in three days of Pakistan sectarian violence

  • Mobile network across Kurram is suspended and traffic on main highway remains halted amid tensions
  • Around 300 families fled on Saturday as gunfights with light and heavy weapons continued into the night
Updated 24 November 2024
AFP

PESHAWAR: Three days of bitter sectarian gunfights in northwestern Pakistan have killed at least 82 people and wounded 156 more, a local official said Sunday.
Pakistan is a Sunni-majority country but Kurram district in Khyber Pakhtunkhwa province — near the border with Afghanistan — has a large Shiite population and the communities have clashed for decades.
The latest bout of violence began on Thursday when two separate convoys of Shiite Muslims traveling under police escort were ambushed, killing at least 43 and sparking two days of gunbattles.
“The clashes and convoy attacks on November 21, 22, and 23 have resulted in 82 fatalities and 156 injuries,” said a local administration official speaking on condition of anonymity.
“Among the deceased 16 were Sunni, while 66 belonged to the Shia community,” he told AFP.
Around 300 families fled on Saturday as the gunfights with both light and heavy weapons continued into the night, however no fresh casualties were reported on Sunday morning.
“The mobile network across Kurram remains suspended and traffic on the main highway is halted,” said the local administration official.
Police have regularly struggled to stymy violence in Kurram, which was part of the semi-autonomous Federally Administered Tribal Areas until it was merged with Khyber Pakhtunkhwa in 2018.
A delegation from the provincial government held talks with the Shiite community on Saturday and is scheduled to meet the Sunni community later on Sunday.
A security official in the provincial capital of Peshawar told AFP the negotiators’ helicopter had come under fire as it arrived in the region, although no one was harmed.
“Our priority today is to broker a ceasefire between both sides. Once that is achieved, we can begin addressing the underlying issues,” provincial Law Minister Aftab Alam Afridi said Sunday.
Last month at least 16 people, including three women and two children, were killed in a sectarian clash in Kurram.
Previous clashes in July and September killed dozens of people and ended only after a jirga, or tribal council, called a ceasefire.
The Human Rights Commission of Pakistan said 79 people died between July and October in sectarian clashes.
Several hundred people demonstrated against the violence on Friday in Pakistan’s second largest city of Lahore and Karachi, the country’s commercial hub.

Topics: Kurram Agency kurram district parachinar

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