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  • ‘Solid agreements worth billions’ to be signed soon with Saudi Arabia — Pakistani PM 


‘Solid agreements worth billions’ to be signed soon with Saudi Arabia — Pakistani PM 

Prime Minister Shehbaz Sharif (center) receives Saudi Arabia's Assistant Minister of Investment Ibrahim Al-Mubarak (left) for a dinner held in honor of a high-level Saudi business delegation visiting the Pakistani capital of Islamabad on May 6, 2024. (Photo courtesy: PMO)
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Updated 06 May 2024
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‘Solid agreements worth billions’ to be signed soon with Saudi Arabia — Pakistani PM 

  • Sharif was hosting dinner for 50-member Saudi delegation visiting Pakistan to discuss private sector investments 
  • Representatives of 30 Saudi firms from IT, telecom, energy, aviation, construction, mining, agriculture are visiting 
Updated 06 May 2024
KASHIF IMRAN & SAIMA SHABBIR

ISLAMABAD: Pakistan and Saudi Arabia will sign “solid agreements worth billions of dollars” soon, Prime Minister Shehbaz Sharif said on Monday during a dinner held in honor of a high-level Saudi business delegation visiting the Pakistani capital of Islamabad.

A 50-member delegation, led by the Kingdom’s Assistant Minister of Investment Ibrahim Al-Mubarak, arrived in Pakistan on Sunday, with representatives of some 30 Saudi firms from the fields of IT, telecom, energy, aviation, construction, mining exploration, agriculture and human resource development.

Speaking at the dinner, Sharif expressed satisfaction over what he called “tangible progress” at a Pakistani-Saudi Arabia investment conference held in Islamabad earlier in the day.

“Today, B2B (business-to-business) interactions have been most productive,” he said. “That time is coming very fast, when we will, God willing, witness agreements, solid agreements worth billions of dollars. That will set the ball rolling.”

Sharif said his government was determined to remove hurdles in the way of the speedy achievement of targets.

“And I want to assure you that in that, we are fully resolved and committed,” the PM said, adding that the Saudi side had expressed confidence in the working of Pakistan’s Special Investment Facilitation Council (SIFC), set up last year to oversee all foreign investments in the country.

Speaking at the dinner, the Saudi assistant investment minister said Pakistan was a “strategic” partner and friend.

“The private sectors have interacted very quickly. We have spoken to them, only a few days after we have spoken to them, everybody showed interest,” he added. “The relationship with Pakistan has always been strong, but we look for it to be even stronger, and we can do great things together. I am sure we can achieve both countries’ aspirations and visions.”

Pakistan and Saudi Arabia have been working closely in recent weeks to increase bilateral trade and investment deals, with Crown Prince Mohammed bin Salman last month reaffirming the Kingdom’s commitment to expedite an investment package of $5 billion.

The Saudi business delegation’s visit comes on the heels of one by Sharif to Riyadh from Apr. 27-30 to attend a special two-day meeting of the World Economic Forum.

On the sidelines of the WEF conference, the Pakistani PM met and discussed bilateral investment and economic partnerships with the crown prince and the Saudi ministers of finance, industries, investment, energy, climate, and economy and planning, the adviser of the Saudi-Pakistan Supreme Coordination Council and the presidents of the Saudi central bank and Islamic Development Bank.

This was Sharif’s second meeting with the crown prince in a month. Before that, he also met him when he traveled to the Kingdom on April 6-8. The Saudi foreign minister was also in Pakistan last month, a trip during which Pakistan pitched projects worth at least $20 billion to Riyadh, according to the Pakistani foreign ministry. 

Pakistan and Saudi Arabia enjoy strong trade, defense, and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as a top source of remittances to the cash-strapped South Asian country.

INVESTMENT CONFERENCE

Speaking at the investment conference on Monday morning, Al-Mubarak said this was his second visit to Pakistan in two weeks and many influential leaders from globally renowned Saudi companies were part of his delegation.

“To the Saudi government and Saudi companies, Pakistan is considered a high-priority economic investment and business opportunity,” Al-Mubarak said.

 

 

“Today, we want to connect you [Pakistan] all to Saudi companies who desire to continue building their international presence, for Saudi Arabia’s ambitions do not stop at our borders and we would like to see Pakistan as one of our leading international partners,” the Saudi official added. 

“So, this gathering provides a wonderful opportunity for them [Saudi companies] to develop a deeper understanding of the great opportunities available for investment in Pakistan and to learn about related regulations, requirements, and incentives.”

Addressing a press conference in Islamabad, Petroleum Minister Dr. Musadik Malik said 125 Pakistani companies were negotiating with the Saudi companies who were visiting Islamabad. 

“First, there were government-to-government agreements during the visit of the Saudi foreign minister [last month] and now there will be business-to-business agreements,” he said.

“To facilitate the visiting Saudi companies, the Pakistani commerce ministry has affiliated one focal person with each Saudi company.”

Minister for Commerce Jam Kamal Khan said high officials of more than 32 Saudi companies were in Pakistan. 

 

 

“Pakistani companies are present here, in the energy sector, in the food sector, in the construction sector, in the renewable section, in the ports and shipping section, and the IT services and general services,” Khan told reporters. 

He said the visit by the Saudi delegation was “just the beginning” and now a Pakistani delegation would visit the Kingdom nect “to move forward toward the implementation phase.”

Topics: Pakistan Saudi Ties Pakistan Saudi Arabia trade

Al-Azhar University to establish campus in Pakistan, says Egyptian grand mufti

Updated 10 January 2025
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Al-Azhar University to establish campus in Pakistan, says Egyptian grand mufti

  • Founded in 970 CE, Al-Azhar is known for its scholarship in theology, jurisprudence and Arabic studies
  • The grand mufti also asked Pakistan to send scholars to Egypt to benefit from the institution’s expertise
Updated 10 January 2025
Arab News Pakistan

ISLAMABAD: Egyptian Grand Mufti Dr. Nazir Mohamed Ayad announced Friday Al-Azhar University, a renowned center of Islamic learning, plans to establish a campus in Pakistan, a move welcomed by Education Minister Dr. Khalid Maqbool Siddiqui, who pledged full government support during their meeting in Islamabad.
Founded in Cairo in 970 CE, Al-Azhar is celebrated for its rigorous scholarship in Islamic theology, jurisprudence, Arabic studies and modern sciences. With a legacy spanning over a millennium, the university is a key authority on Islamic thought and attracts students globally.
The discussion on branching out into Pakistan took place during a meeting between the two officials, which was also attended by the Egyptian ambassador to Pakistan.
“Dr. Nazir Mohamed Ayad, Grand Mufti of the Arab Republic of Egypt, thanked the federal minister for his warm welcome and said that Al-Azhar University will establish its campus in Pakistan,” read an official statement from Pakistan’s Ministry of Federal Education.
“He said it is important that people learn the Arabic language to understand the true teachings of Islam,” it continued.
The Pakistani minister highlighted the deep cultural and historical ties his country shared with Egypt, both of which, he noted, were part of the world’s oldest civilizations. Siddiqui described Al-Azhar University as a beacon of Islamic scholarship, expressing his aspiration to visit the institution in Cairo.
During the meeting, he also highlighted Pakistan’s upcoming International Girls Conference, scheduled for January 11-12, which aims to promote girls’ education in Islamic countries.
“It is a misconception that Islam does not allow women’s education,” Siddiqui said, emphasizing Pakistan’s commitment to ensuring equal educational opportunities for women.
The Grand Mufti noted that over 40 percent of Al-Azhar University’s students were female. He also encouraged Pakistan to send scholars to Egypt to benefit from the institution’s expertise.
Al-Azhar’s operations are primarily based in Egypt, where it has campuses in several cities. Internationally, the university extends its influence by offering scholarships to students who disseminate its teachings upon returning to their home countries.
The university has also collaborated with educational institutions worldwide and established cultural centers to promote Islamic studies and the Arabic language.
In 2022, Pakistan’s late religious affairs minister, Pir Noor-ul-Haq Qadri, announced plans to open a campus in Lahore.
The initiative, which included Al-Azhar providing faculty, curriculum and textbooks, was to be administratively managed by Pakistan.

Topics: Al-Azhar University Pakistan Egypt ties Khalid Maqbool

Pakistan receives over 22,000 applications for 4,500 scholarships for Afghan students

Updated 10 January 2025
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Pakistan receives over 22,000 applications for 4,500 scholarships for Afghan students

  • The scholarships were announced in July last year under the Allama Iqbal Scholarship program, amid ongoing tensions between the two countries
  • The program, which covers tuition fees, accommodation and monthly stipend, offers scholarships in medical, engineering, agriculture and other fields
Updated 10 January 2025
Hasaan Ali Khan

ISLAMABAD: Pakistan has received more than 22,000 applications for 4,500 scholarships it announced for Afghan students last year, Pakistan’s special representative for Afghanistan said on Friday.
The scholarships were announced in July last year under the Allama Iqbal Scholarship program, amid ongoing tensions between the two countries that prompted Islamabad to launch a deportation drive targeting unregistered Afghans in late 2023.
The program, which covers tuition fees, accommodation and a monthly stipend for undergraduate, graduate and doctoral studies at Pakistani universities, was introduced in 2009 to strengthen bilateral ties between the two neighboring states.
In a statement issued from his office, Pakistan’s special representative Sadiq Khan said this is the third phase of the program that will offer fully funded scholarships in medical, engineering, agriculture and other fields over the next three years.
“This month, over 22,000 applicants will take an online test, followed by interviews for final selection. The entire process will conclude within 45 days,” he said.
“Notably, 33 percent of the scholarship seats are reserved for female students.”
Pakistan last year announced the scholarships on the same day its federal cabinet approved the extension of registration cards for 1.5 million Afghan refugees for another year.
Ties between the two countries have been strained because of a surge in militant attacks in Pakistan’s western regions that border Afghanistan.
The attacks particularly surged after the breakdown of a fragile truce between the Pakistani government and the outlawed Tehreek-e-Taliban Pakistan (TTP) in Nov. 2022.
Pakistan has frequently accused neighboring Afghanistan of sheltering and supporting militant groups that launch cross-border attacks. Afghan officials deny involvement, insisting Pakistan’s security issues are an internal matter of Islamabad.
The two countries also conducted cross-border strikes in each other’s territory last month in the latest escalation of hostilities along the border.

Topics: Pakistan Afghanistan Ties Afghan students

Pakistan hopes for stronger ties with Lebanon as Joseph Aoun elected president

Updated 10 January 2025
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Pakistan hopes for stronger ties with Lebanon as Joseph Aoun elected president

  • Aoun’s election came weeks after a ceasefire deal halted a 14-month conflict between Israel, Lebanese group Hezbollah
  • PM Shehbaz Sharif says Pakistan values its ties with Lebanon and looks forward to strengthen bilateral cooperation
Updated 10 January 2025
Hasaan Ali Khan

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday congratulated Joseph Aoun for being elected as the new president of Lebanon, expressing Pakistan’s interest in strengthening bilateral cooperation between both countries.
Aoun’s election came weeks after a tenuous ceasefire agreement halted a 14-month conflict between Israel and the Lebanese militant group Hezbollah and at a time when Lebanon’s leaders are seeking international assistance for reconstruction.
Aoun, no relation to former President Michel, was widely seen as the preferred candidate of the United States, whose assistance Lebanon will need as it seeks to rebuild.
In his message on X, Sharif wished Aoun success in his endeavors to lead Lebanon toward peace, stability and prosperity.
“Pakistan values its ties with Lebanon and looks forward to strengthen our bilateral cooperation,” the Pakistan prime minister said.
Pakistan and Lebanon share close relations. In December, Lebanon helped Islamabad safely evacuate around 300 Pakistani nationals stranded in Syria and transport them back home via chartered flights from Beirut.
Pakistan has also sent several relief consignments for the people of Lebanon during Israel’s bombardment of the Middle Eastern country.

Topics: Pakistan Lebanon Ties Pakistan Lebanon Lebanon president

Pakistan records 5.6% increase in remittances month on month

Updated 10 January 2025
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Pakistan records 5.6% increase in remittances month on month

  • Overseas workers remittances stood at $3.1 billion in the month of December
  • The inflows rose by 29.3 percent in 2024 as compared to the previous year
Updated 10 January 2025
NAIMAT KHAN

ISLAMABAD: Pakistan recorded a 5.6 percent increase in remittances in December on a month-on-month basis, Prime Minister Shehbaz Sharif said on Friday, congratulating the nation on the record inflows.
Remittances bring billions of dollars annually from overseas Pakistanis and are vital to Pakistan’s economy. These inflows bolster foreign exchange reserves, stabilize the balance of payments, and support the Pakistani currency.
Overseas workers remittances stood at $3.1 billion in the month of December, according to a statement issued from Sharif’s office. The inflows rose by 29.3 percent in 2024 as compared to the previous year.
Sharif said the record increase in remittances was a testament to the determination of overseas Pakistanis to play their role in the development of the South Asian country.
“After economic stability, Pakistan has embarked on the path of economic development,” he said.
Pakistan narrowly avoided a sovereign default in 2023 by clinching a last-gasp $3 billion loan program from the International Monetary Fund (IMF).
The South Asian country has since made some economic gains, most notably slowing the annual consumer inflation to 4.1 percent in December. This was down from 38 percent in May 2023.
Pakistan’s government has vowed to undertake economic reforms mandated by the IMF which include tightening fiscal policies, privatizing loss-making state-owned enterprises and enhancing tax revenues.
“The government of Pakistan is committed to the country’s development and public welfare,” Sharif reassured in his statement.

Topics: Pakistan Remittances Pakistan economy

Pakistan to launch pilot motorbike patrol for security of motorways

Updated 10 January 2025
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Pakistan to launch pilot motorbike patrol for security of motorways

  • Motorways in Pakistan have a dedicated police force, but various crimes, including rapes, have been reported in the past
  • Communications minister says 30-35 motorbikes will boost motorway security and improve response time in the first phase
Updated 10 January 2025
Arab News Pakistan

ISLAMABAD: Pakistan’s Communications Minister Abdul Aleem Khan has ordered the launch of a pilot motorbike patrol to enhance security of motorways in the country, Pakistani state media reported on Thursday.
Pakistan’s motorway network has improved road connectivity for the people and the government has deployed a dedicated motorway police force, installed CCTV cameras and established emergency response systems, but security concerns have persisted for travelers.
In 2020, the gangrape of a woman traveling from Lahore to Gujranwala via the M-11 motorway in front of her children sparked widespread outrage in the country, leading to calls for enhanced security measures. In 2023, a motorway police officer was also arrested on allegations of raping a woman on the highway, according to a report in Dawn newspaper.
“Federal Minister for Communications Abdul Aleem Khan has directed the motorways authority to launch a pilot motorbike service aimed at enhancing security and surveillance on motorways,” the Pakistan Television (PTV) broadcaster reported.
“The motorway police have been instructed to utilize existing resources to kick-start the service with plans for expansion in the future.”
Khan directed the motorway police to include 30-35 motorbikes for patrolling in the first phase to boost security measures and improve response times, according to the report.
The communications minister urged the National Highway Authority, Motorway Police, Frontier Works Organization, and local police to collaborate in securing the motorways.
“Motorway police must take maximum responsibility for ensuring the safety of citizens while a robust mechanism should be developed to make motorway travel as secure as possible,” he added.

Topics: Pakistan motorway Abdul Aleem Khan

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