Mega Saudi Investment deals expected during Crown Prince's visit

A general view of Gwadar port in Gwadar, Pakistan. (Reuters/File)
Updated 16 February 2019
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Mega Saudi Investment deals expected during Crown Prince's visit

  • The Kingdom is building a $10 billion refinery and petrochemicals complex in Gwadar
  • Pakistan takes KSA as third partner in multi-billion dollar CPEC project

A record investment package being prepared by Saudi Arabia for Pakistan will likely provide welcome relief for its cash-strapped Muslim ally, while also addressing regional geopolitical challenges, analysts say.
At the heart of the investment is a reported $10 billion refinery and oil complex in the strategic Gwadar Port on the Arabian Sea, the ultimate destination for the massive multi-billion dollar China Pakistan Economic Corridor, which lies not far from the Indo-Iranian port of Chabahar.
Two Saudi sources have confirmed to AFP that heir apparent to the Gulf kingdom's throne, Crown Prince Mohammed bin Salman, will visit Islamabad shortly, without giving a date.
And a number of major investment deals are expected to be signed during a visit, officials from both countries have told AFP.
Riyadh and Islamabad, decades-old allies, have been involved for months in talks to hammer out details of the deals in time for the high-profile visit.
"The outcome of the talks so far has been very positive and this is going to be one of the biggest-ever Saudi investments in Pakistan," a Pakistani senior finance ministry official told AFP.
"We hope that an agreement to this effect will be signed during the upcoming visit of the Saudi crown prince to Pakistan," said the official, requesting anonymity.
The Wall Street Journal reported last month that both Saudi Arabia and the United Arab Emirates, Islamabad's biggest trading partner in the Middle East, have offered Pakistani Prime Minister Imran Khan some $30 billion in investment and loans.
Riyadh investments are expected to provide a lifeline for Pakistan's slumping economy which was downgraded in early February by S&P ratings agency from a B to a B-, Saudi economist Fadhl al-Bouenain said.
"Saudi investment to Pakistan comes within an economic aid package aimed at relieving the stress of external debt and a shortage of foreign currency, besides boosting the sluggish economy," Bouenain told AFP.
The OPEC heavyweight also aims to achieve strategic and commercial goals with investments in infrastructure and refinery projects, he said.
Saudi Arabia and its Gulf partner, the UAE, have already deposited $3 billion each in Pakistan's central bank to help resolve a balance of payments crisis and shore up its declining rupee.
They have also reportedly deferred some $6 billion in oil imports payments as Islamabad has so far failed to secure fresh loans from the International Monetary Fund.
Khan has already visited Riyadh twice since taking office in July and in October attended a prestigious investment conference widely boycotted by other political and economic figures after the murder of journalist Jamal Khashoggi.
Khan also visited Saudi rivals Qatar and Turkey, as well as China seeking investments.
"One of the goals for Saudi Arabia expanding investments in refining worldwide is to secure market share and sustainable exports in the face of international competition," Bouenain said.
Saudi Energy Minister Khalid al-Falih visited Gwadar in January and inspected the site for the proposed oil refinery at the deep sea port, just 70 kilometres (45 miles) away from its Iranian competitor, Chabahar.
He was quoted by local media as saying the kingdom was studying plans to construct a $10 billion refinery and petrochemicals complex in Gwadar.
Like most oil suppliers, the world's top crude exporter has been investing heavily in refinery and petrochemicals projects across the globe to secure long-term buyers of its oil.
A pipeline from Gwadar to China would cut the supply time from the current 40 days to just seven, experts say.
Developed as part of China's Belt and Road Initiative with investments worth some $60 billion, Gwadar is being billed as a regional industrial hub of the future, easily accessible for Central Asia, Afghanistan, the Middle East and Africa.
"Pakistan needs a rich partner to enter as a third party besides China, capable of injecting needed cash," Bouenain said.
But so far China has rejected other partners for the corridor that seeks to connect its western province Xinjiang with Gwadar, including Saudi Arabia and UAE, said James M. Dorsey, a senior fellow at Singapore's S. Rajaratnam School of International Studies.
This is despite calls by Khan "for the Chinese investments to be restructured to include agriculture and job-creation sectors and not only in infrastructure", Dorsey told AFP.
Any Saudi investment in Gwadar will also have geopolitical dimensions, Dorsey said.
Iran late last year inaugurated Chabahar which provides a key supply route to landlocked Afghanistan and allows India to bypass its historic enemy Pakistan.
India has seen Chabahar as a key way both to send supplies to Afghanistan and to step up trade with Central Asia as well as Africa.
But Riyadh is not expected to get involved in any Indo-Pakistani rivalry and the kingdom also has major strategic energy deals with New Delhi, where demand for oil is growing fast.
Indeed in April, the Saudis signed a $44 billion deal to build a huge refinery and petrochemicals complex in western India. 


Pakistan PM calls for AI integration to strengthen faceless customs system in Karachi

Updated 6 sec ago
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Pakistan PM calls for AI integration to strengthen faceless customs system in Karachi

  • Sharif inaugurated the system Wednesday to increase transparency, minimize human interaction
  • The initiative also aims at digitizing the tax collection system and reduce clearance time at the port

ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday stressed the importance of utilizing artificial intelligence to further enhance the newly installed Faceless Customs Assessment System at Karachi Port, a move aimed at improving transparency and efficiency in customs operations.
Sharif inaugurated the system, installed by the Federal Board of Revenue (FBR), Pakistan’s tax collection agency, during a daylong visit to the southern metropolis on Wednesday.
Launched as a pilot project in December 2024, the system seeks to streamline customs clearance by minimizing human interaction, reducing clearance times and improving trade facilitation.
The prime minister met with the chief collector of customs in Karachi Zone, Jameel Nasir, praising him and his team for their efforts in implementing the system.
“The Faceless Customs Assessment System has significantly improved transparency, efficiency and service delivery in customs operations,” Sharif was quoted as saying in a statement released by his office following the meeting.
The statement added that he “emphasized the need to incorporate advanced technologies, particularly artificial intelligence, to make the system world-class and foolproof.”
The initiative marks a step in the government’s broader strategy to digitize its tax collection, a key condition set by the International Monetary Fund (IMF) as part of its $7 billion loan program.
The government plans to expand the system to other ports and border stations across the country in the coming months.
The prime minister announced a reward of Rs15 million ($54,000) for Nasir and his team, acknowledging their dedication to the project.
“This system is a major milestone and will play a crucial role in Pakistan’s economic development,” he continued, adding that it aligned with the government’s vision of fostering a business- and investor-friendly environment.
Pakistan has been actively working to modernize its port facilities to transform the country into a transit trade hub.
The government has also extended an invitation to landlocked Central Asian nations to use its ports for access to global sea lanes, a move expected to enhance regional trade connectivity.


Islam places no restrictions on girls’ education, MWL chief tells conference in Pakistan

Updated 11 January 2025
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Islam places no restrictions on girls’ education, MWL chief tells conference in Pakistan

  • Sheikh Abdul Kareem Al-Issa says anyone opposing girls’ education is deviating from global Muslim community
  • Top Muslim World League official says Muslim women always enjoyed significant presence in all spheres of life

ISLAMABAD: Islam places no restrictive conditions on girls’ education, and anyone opposing it is deviating from the global Muslim community, Sheikh Muhammad bin Abdul Kareem Al-Issa, Secretary General of the Muslim World League (MWL), said on Saturday at an international conference in Pakistan focusing on the issue.
Muslim communities have often faced criticism for not providing sufficient opportunities to women in fields like education, though many of their countries have made significant strides in promoting women’s participation across various fields.
The issue of girls’ education has drawn heightened attention recently, particularly after Afghanistan’s interim administration, led by the Taliban, imposed restrictions on girls’ education, including shutting down secondary schools and barring women from attending universities.
The two-day conference, co-hosted by Pakistan and the MWL, comes at a time when global leaders, organizations and activists have urged the Taliban to reverse their policies. The conference aims to address the issue by signing a consensus “Islamabad Declaration,” reaffirming that Islam does not prohibit women’s education in any way.
“Our Islamic faith has always celebrated the education of every Muslim, both male and female, because the message of Islam was to enlighten all, regardless of gender,” Al-Issa told participants. “Therefore, Muslim women in Islam had a significant and active presence in all spheres of life — in religious matters and in the sciences, politics, economics and societal affairs throughout history.”
The MWL chief said any reservations toward girls’ education must be understood as stemming from non-Islamic customs that have no basis in the Muslim faith.
“Those who deviate from this Islamic consensus are deviating from the ummah [community of believers],” he said, adding, “The Prophet Muhammad, Peace Be Upon Him, warned that whoever desires the best place in paradise must stick to the community.”
The global summit, which aims to find ways to advance girls’ education across the Muslim world, has brought together over 150 dignitaries from 44 Muslim and other friendly states, according to the foreign office of Pakistan.
Al-Issa noted all participants of the gathering unanimously agreed on the need for girls’ education.
“They are all here to say with one voice that Islam is innocent of depriving women of education in any field and at any level of education,” he added.
The MWL chief arrived in Pakistan a day earlier and held separate meetings with high-ranking officials, including Prime Minister Shehbaz Sharif, the keynote speaker at the conference’s inaugural session.


New-look Pakistan squad announced for West Indies Test series

Updated 11 January 2025
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New-look Pakistan squad announced for West Indies Test series

  • Pakistan will host West Indies for the first time in 19 years, with both Tests held in Multan
  • Shan Masood is retained as skipper despite Pakistan losing both the Tests in South Africa

ISLAMABAD: Pakistan selectors Saturday recalled opener Imam-ul-Haq in a new look squad for the two-match Test series against the West Indies starting next week.
The 29-year old Imam has played 24 Tests for Pakistan but was dropped over poor form after a 3-0 defeat in Australia early last year.
The selectors have also named three uncapped players in opener Muhammad Hurraira, wicketkeeper Rohail Nazir and pacer Kashif Ali on the back of their good performances in domestic matches.
Pakistan will host the visitors for the first time in 19 years, with both Tests held in Multan, starting from January 17 and January 25.
Shan Masood is retained as skipper despite Pakistan losing both the Tests in South Africa last week.
Besides Masood, Saud Shakeel (vice-captain), Babar Azam, Kamran Ghulam, Khurram Shahzad, Mohammad Rizwan, Noman Ali, and Salman Ali Agha kept their places from the South Africa series.
Off-spinner Sajid Khan and mystery spinner Abrar Ahmed have been recalled to partner with left-arm spinner Noman Ali.
Noman and Sajid took 29 wickets in Pakistan’s 2-1 win over England last year.
Injured opener Saim Ayub is also left out of the Pakistan squad for the West Indies Tests.
Squad: Shan Masood (captain), Saud Shakeel (vice-captain), Abrar Ahmed, Babar Azam, Imam-ul-Haq, Kamran Ghulam, Kashif Ali, Khurram Shahzad, Mohammad Ali, Muhammad Hurraira, Mohammad Rizwan, Noman Ali, Rohail Nazir, Sajid Khan, Salman Ali Agha.


Efforts underway to free atomic energy workers held by Pakistani Taliban — police

Updated 11 January 2025
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Efforts underway to free atomic energy workers held by Pakistani Taliban — police

  • TTP kidnapped more than a dozen Pakistan Atomic Energy Commission workers from Lakki Marwat this week
  • Police say the militant network has presented demands that are being evaluated by officials and tribal elders

PESHAWAR/KARCHI: Police in northwestern Khyber Pakhtunkhwa province said on Saturday efforts were being made to secure the safe release of kidnapped workers of the Pakistan Atomic Energy Commission (PAEC) after a banned militant network released a video featuring some of them while listing demands for their release.
The Pakistani Taliban kidnapped more than a dozen workers of the sensitive government agency responsible for nuclear energy projects from the volatile Lakki Marwat district on Thursday.
Eight of them were later released through joint efforts by tribal elders amid a search operation conducted by police and security forces in the dense forest area where the militants had reportedly taken them.
While the government did not issue a statement on the incident, Shahid Marwat, a police spokesperson in the district, confirmed that a group of nearly 18 “civilians” working on “atomic and mining projects” had been kidnapped by armed gunmen. The militants later shared their credentials on social media, identifying them as PAEC employees.
Speaking to Arab News on Saturday, Marwat said the militants had made demands for the release of the abductees, adding that local elders and officials from security forces and the district administration were holding meetings to ensure their safe release.
“Local elders and police and security officials are evaluating the kidnappers’ demands,” he said. “Efforts are on to secure their safe release at the earliest. So far, officials are busy tackling the issue through negotiations.”
Asked if the video released by the Pakistani Taliban, also known as the Tehreek-e-Taliban Pakistan (TTP), featured the kidnapped PAEC workers, he responded affirmatively.
In the video, a man flanked by two others mentions the date, saying: “Today, it is 11th January 2025; this is our third consecutive day in the [Pakistani] Taliban captivity.”
“Day before yesterday, reports emerged that the mujahideen [freedom fighters] had released ‘these people,’ while the reality is that even right now, 10 of us are in their custody.”
He then read out the TTP demands, requesting the government to “immediately” accept them.
The demands included the release of militants arrested in Lakki Marwat, the release of families of militants allegedly in government custody, a commitment not to demolish the homes of militants and their relatives in the future, and compensation for the homes already demolished.
Lakki Marwat is situated on the edge of Pakistan’s northwestern tribal districts bordering Afghanistan, where the TTP has frequently targeted security force convoys and check-posts, in addition to engaging in targeted killings and kidnappings of law enforcers and government officials in recent months.


Pakistan’s religious affairs minister meets Egypt’s grand mufti, stresses need for interfaith dialogue

Updated 11 January 2025
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Pakistan’s religious affairs minister meets Egypt’s grand mufti, stresses need for interfaith dialogue

  • Both officials seek eradication of militant violence and sectarianism for the establishment of peace
  • They also agree that the two countries should focus on enhancing economic, trade and cultural ties

ISLAMABAD: Federal Minister for Religious Affairs Chaudhary Salik Hussain on Saturday called for interfaith and intercultural dialogue to address growing intolerance worldwide and the challenges posed by militancy in Muslim states during a meeting with Egypt’s Grand Mufti, Dr. Nazir Mohamed Ayad.
Pakistan has made a conscious effort to promote religious pluralism and faith-based tourism in recent years, welcoming Buddhist monks as well as Hindu and Sikh devotees from India and beyond. However, the country continues to grapple with significant challenges, as religious minorities often complain of discrimination and marginalization.
The Pakistani minister’s meeting with Egypt’s grand mufti in Islamabad also sought the “eradication of terrorism, sectarianism, and the establishment of peace,” according to a statement released by the ministry.
“In light of the challenges and circumstances that Muslim countries are currently facing, there is a need to promote religious harmony, tolerance, and unity,” it continued. “There is an urgent need for dialogue between religions and cultures to establish peace in the world. An attitude of tolerance and respect is an essential component of Islamic teachings.”
Both sides agreed to strengthen bilateral cooperation to foster religious harmony, peace, and tolerance globally. They also decided to enhance economic, trade, and cultural ties.
The grand mufti highlighted the Muslim world’s struggles against militant violence, suggesting joint efforts to combat extremism.
He reiterated his country’s plan to establish a campus of Al-Azhar University, one of the world’s oldest centers of Islamic education, in Pakistan.
He also proposed that Pakistani scholars visit Egypt to benefit from the institution’s teachings and expertise.