KARACHI: A United Arab Emirates-based multidisciplinary virtual assets investment consultancy company has collaborated with a Pakistani software house to import healthcare services for the Saudi market, informed the company’s top official earlier this week.
Headquartered in Dubai, PXDX deals in healthcare training and services in the Middle East and North Africa (MENA) region where it manages its operations.
“We started collaboration in Pakistan and we had a project and we will be getting cooperation with a local software house in Pakistan and we will be importing their services to Saudi Arabia,” Dr. Rehan Al Taji, the founding CEO of PXDX and Gabriel Jobs, KSA, told Arab News without divulging the name of the Pakistani business entity.
The conversation took place on the sidelines of the seventh edition of The Future Summit, a two-day event that brought together futurists, business experts, innovative thinkers and investors at a local hotel in Karachi on Nov. 15.
“We will not only be offering services to hospitals but also extend our services to other sectors. However, we will start with the healthcare sector,” he continued without sharing further details.
Taji, who said he was visiting Pakistan third time, said he was deeply impressed by the performance of Pakistani startups which he described as “smart and innovative.”
“We saw Pakistani startups coming as a second runner up after Saudi startup in previous events like LEAP [tech conference] in Riyadh a few months back,” he said. “They are great.”
The PXDX and Gabriel Jobs chief said there were huge opportunities for Pakistani startups under Vision 2030, a program introduced by the Saudi authorities to diversify the kingdom’s economy and reduce its dependency on oil.
“Pakistani startups can extend their business in Saudi Arabia because now they [the Saudi authorities] are allowing it. With the help of Saudi businesses, they can establish their own companies there which will be 100 percent in their name and under their own ownership,” Taji continued, adding the opportunities were getting more rampant and easier to tap for foreign investors in the kingdom.
Under Vision 2030, the Saudi government is trying to develop, among other things, public service sectors such as health, education, infrastructure, recreation and tourism.
Speaking to Arab News, Dana Al Salem, a Kuwaiti global tech entrepreneur, investor and innovation expert said Vision 2030 had clear objectives.
“The countries that are attracting a lot of investors have a very clear purpose which they share with the world,” he said. “For example, Saudi Arabia’s Vision 2030 [is] super clear.”
Al Salem, who participated as a speaker at the summit, said Pakistan needed to work on its image abroad.
“Changing people's perspectives on Pakistan is very important,” she maintained.
The Kuwaiti expert advised Pakistan to focus on the agriculture sector for addressing food shortage concerns that countries around the world are facing, saying the South Asian nation was blessed with water resources which can help it increase its overall yield.
UAE-based firm partners with Pakistani software house to provide healthcare services to Saudi Arabia
https://arab.news/28j7s
UAE-based firm partners with Pakistani software house to provide healthcare services to Saudi Arabia
- The firm’s CEO says it will start with healthcare sector before expanding operations elsewhere in the kingdom
- A Middle Eastern investment expert asks Pakistan to improve its image abroad and focus more on agriculture
President of Azad Kashmir invites China to explore investments in disputed region
- Move is likely to draw the ire of archrival India which like Pakistan claims the Kashmir region in full
- Since 1947, Pakistan and India have fought three wars over Kashmir, engaged in regular border skirmishes
ISLAMABAD: Azad Jammu and Kashmir (AJK) President Sultan Mahmood Chaudhry has invited Chinese businesses and companies to invest in different sectors of the Pakistan-controlled disputed region, state media reported on Wednesday, in a move that is likely to draw the ire of archrival India.
The Muslim-majority Kashmir region has long been a source of tensions between nuclear-armed neighbors India and Pakistan, leading them to fight three wars since winning independence from the British Empire in 1947. The scenic mountain region is divided between India, which rules the populous Kashmir Valley and the Hindu-dominated region around Jammu city, Pakistan, which controls a wedge of territory in the west called AJK, and China, which holds a thinly populated high-altitude area in the north. Besides Pakistan, India also has an ongoing conflict with China over their disputed frontier.
Since both India and Pakistan tested nuclear weapons in 1998, Kashmir has become one of the world’s most dangerous flashpoints. Islamabad says a UN-mandated referendum should take place to settle the dispute over the region, expecting that the majority of Kashmiris would opt to join Pakistan.
On Tuesday, the president of AJK, which is administered by Pakistan as a nominally self-governing entity, met Li Ping, the director of China’s Yunnan Sunny Road and Bridge Company, and briefed him about “massive investment opportunities” in the region, APP reported.
“Seeking Chinese companies investment in different economic sectors of the State including mining and tourism, he said that the AJK government was ready to offer all kinds of facilities and support to investors,” state media said, as Sultan briefed the visiting Chinese business leader about the tourism potential of the region as well as its abundance of natural resources and precious stones, especially rubies and other minerals.
Li gave a detailed briefing to Sultan about the aims, objectives and business activities of his company, which specializes in tunnels, highways and other construction sectors.
“He also expressed his company’s desire to start its projects in Azad Kashmir,” APP said. “The President expressed satisfaction over Yunnan Sunny Company’s desire and said that the AJK government would welcome foreign investment.”
Beijing has already pledged investments in AJK under the China Pakistan Economic Corridor scheme, including the Karot and Kohala hydropower projects, the construction of M-4 motorway, and a Special Economic Zone at Mirpur.
After the partition of the subcontinent in 1947, Kashmir was expected to go to Pakistan, as other Muslim majority regions did. Its Hindu ruler wanted to stay independent but, faced with an invasion by Muslim tribesmen from Pakistan, hastily acceded to India in October 1947 in return for help against the invaders.
The dispute over the former princely state sparked the first two of three wars between India and Pakistan after independence. They fought a second in 1965, and a third, largely over what became Bangladesh, in 1971.
A UN-monitored ceasefire line agreed in 1972, called the Line of Control (LOC), splits Kashmir into two areas — one administered by India, one by Pakistan. Their armies have for decades faced off over the LOC. In 1999, the two were involved in a battle along the LOC that some analysts called an undeclared war. Their forces exchanged regular gunfire over the LOC until a truce in late 2003, which has largely held since.
India accuses Pakistan of backing a separatist insurgency in its portion of Kashmir that began in 1989, in particular by arming and training fighters. Pakistan denies this, saying it only offers political support to the Kashmiri people.
Pakistan issues drought alert for multiple regions due to scarce rainfall
- Rainfall was 40 percent lower than normal across Pakistan from Sept. 1, 2024, to Jan. 15, 2025
- In Sindh, rainfall was 52 percent lower than normal, Balochistan 45 percent, Punjab 42 percent
ISLAMABAD: The Pakistan Meteorological Department (PMD) has issued a drought alert for several parts of the country, warning of worsening conditions due to below-normal rainfall and rising temperatures, state-run APP reported on Wednesday.
Pakistan has the fourth-highest rate of water consumption in the world. The country’s agriculture sector uses the most amount of fresh water than any other sector. Rainfall has steadily declined over the past few decades and experts have been warning for years the country will approach “absolute scarcity” of water by 2025.
According to the PMD advisory, which followed one issued on Dec. 9, rainfall from Sept. 1, 2024, to Jan. 15, 2025, was 40 percent below normal across Pakistan, with Sindh, Balochistan, and Punjab being the most affected provinces where rainfall deficits of 52 percent, 45 percent, and 42 percent respectively have been recorded.
“The drought is particularly affecting rain-fed areas,” APP said. “Drought conditions are likely to aggravate in the coming months due to limited rainfall and above-normal temperatures, which may lead to moderate drought in some regions. Flash droughts are also anticipated.”
The advisory said in Punjab province, mild drought conditions had been observed in Attock, Chakwal, Rawalpindi/Islamabad, Bhakkar, Layyah, Multan, Rajanpur, Bahawalnagar, Bahawalpur, Faisalabad, Sargodha, Khushab, Mianwali, and Dera Ghazi Khan.
Sindh province was experiencing similar conditions in Ghotki, Jacobabad, Larkana, Sukkur, Karachi, Hyderabad, and Tharparkar, while in Balochistan, affected areas included Ormara, Kharan, Turbat, Panjgur, Lasbela, Dalbandin, and adjacent regions.
The results of the latest census in 2023 counted 241.49 million people across Pakistan with a growth rate of 2.55 percent. Linked to that, per capita water availability has been on a downward trend for decades.
In 1947, when Pakistan was created, the figure stood at about 5,000 cubic meters per person, according to the World Bank. Today it is 1,000 cubic meters. It will decline further with the population expected to double in the next 50 years, climate change experts say, pointing out that Pakistan needs intervention on a range of water-related issues: from the impact of climate change to hydropower, from transboundary water-sharing to irrigated and rain-fed agriculture, and from drinking water to sanitation.
Pakistan finmin, Saudi National Bank chairman discuss financial cooperation, banking sector partnerships
- Muhammad Aurangzeb meets SNB chairman at sidelines of World Economic Forum summit in Davos
- Pakistan’s finmin meets Egypt’s planning minister, discusses ongoing projects between two countries
ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb met Saudi National Bank Chairman Saeed bin Mohammed Al-Ghamdi on Tuesday to discuss financial cooperation and strengthening banking sector partnerships between the two countries, Pakistan’s finance ministry said.
The meeting between the two officials took place during the sidelines of the World Economic Forum (WEF) summit in Davos, which will be held till Jan. 24 under the theme: ‘Collaboration for the Intelligent Age’.
Pakistan and Saudi Arabia are close regional partners and economic allies, with both countries signing 34 agreements worth $2.8 billion in October 2024.
“The two leaders discussed potential financial cooperation between Pakistan and Saudi Arabia, particularly focusing on strengthening partnerships in the banking sector,” the finance ministry said in a statement.
Aurangzeb briefed Ghamdi about Pakistan’s economic progress and the improvements made by the South Asian nation in its international financial rankings.
“Both sides expressed their commitment to further deepen economic ties for mutual benefit,” the ministry said.
Meanwhile, the Saudi Export-Import Bank and Pakistan’s Bank Alfalah also signed a $15 million financing agreement, strengthening access to Pakistani markets and boosting trade and economic ties.
Separately, Aurangzeb also met Egyptian Minister of Planning, Dr. Rania Al-Mashat at the sidelines of the summit. The two ministers discussed ongoing programs and projects between Pakistan and Egypt, the finance ministry said.
“The two ministers agreed to continue discussions on economy and finance and learn from each other’s experiences,” the statement said.
Saudi EXIM Bank signs $15m deal with Pakistan’s Bank Alfalah to boost trade
- Agreement designed to enhance Kingdom’s exporters access to Pakistani markets
- In October, businesses from both countries signed agreements worth $2.8 billion
RIYADH: The Saudi Export-Import Bank and Pakistan’s Bank Alfalah have inked a $15 million financing agreement, designed to enhance Kingdom’s exporters access to Pakistani markets and foster stronger trade and economic ties.
The new credit line deal seeks to increase the flow and competitiveness of the Kingdom’s non-oil exports as well as unveil new trade horizons between the two countries, the Saudi Press Agency reported.
This falls in line with Pakistan’s efforts to strengthen trade and investment ties with the Kingdom, with the Saudi government reaffirming its commitment in September to fast-track a $5 billion investment package for the Asian country.
This also aligns with Saudi EXIM’s goal of diversifying the Kingdom’s economy by offering financing and insurance products for non-oil exports in support of Vision 2030.
“The agreement comes within the bank’s efforts to strengthen strategic relations with international banks and financial institutions to provide financing solutions that contribute to the development of Saudi non-oil exports and enhance their competitiveness in Pakistani markets, by encouraging importers from Pakistan to import Saudi products and services, which opens up broad prospects for the development of trade and investment between the two countries, and creates more promising trade and investment opportunities,” said General Director of the Finance Department at Saudi EXIM Bank Abdul Latif bin Saud Al-Ghaith.
The Group Head of Corporate, Investment Banking, and International Business at Bank Alfalah, Farooq Ahmed Khan, said: “The agreement between Saudi EXIM Bank and Bank Alfalah Ltd. is a milestone in strengthening trade relations between the Kingdom and Pakistan.”
He added: “The financing line will enable Pakistani companies to access high-quality products in the Kingdom and will also enhance the volume of trade exchange between the two countries.
“We at Bank Alfalah are proud to play a pivotal role in promoting trade and investment opportunities that are in line with the shared vision to strengthen and grow the economies of both countries.”
In October, Saudi businessmen expressed hope for successful collaborations in Pakistan, saying the country’s economic stability and improved regulatory framework had made it an attractive investment destination, following the signing of over two dozen deals between companies from both nations.
Pakistan condoles loss of lives as Turkiye ski resort fire kills 66
- Fire erupted overnight in hotel of Turkiye’s Kartalkaya ski resort
- Pakistan stands shoulder-to-shoulder with Turkiye, says foreign office
ISLAMABAD: Pakistan’s foreign office on Tuesday condoled over the loss of lives caused by a deadly fire at a ski resort in Turkiye that killed at least 66 people and wounded over 50 others.
The blaze erupted overnight in the restaurant of the hotel in the famous Kartalkaya ski resort in Bolu province on Monday.
Television footage showed the roof and upper floors of the building engulfed in flames as witnesses and reports indicated that the hotel’s fire detection system had failed to activate.
As per reports, 234 guests were staying at the hotel when it caught fire.
“The government and people of Pakistan are deeply saddened by the devastating fire at a hotel in the Kartalkaya ski resort in Bolu, Türkiye this morning,” the foreign office said.
“Pakistan extends its heartfelt condolences to the Government and people of Türkiye, particularly to the families who have lost their loved ones.”
The foreign office said Pakistan stands shoulder-to-shoulder with Turkiye, reaffirming its solidarity with the nation.
According to the state-owned Anadolu Agency, Turkish Justice Minister Yılmaz Tunç said four people, including the business owner, were detained over the fire incident.
He said six public prosecutors were assigned to the probe, adding that a team of experts were looking into the cause of the fire.
Kartalkaya, which lies about 295 kilometers east of Istanbul, is one of Turkiye’s premier winter tourism destinations that attracts thousands of visitors every winter.
