PESHAWAR: A group of armed men on Thursday abducted more than a dozen people working on “atomic and mining projects” in Lakki Marwat, a highly volatile district of northwestern Khyber Pakhtunkhwa (KP) province, a police official said.
Lakki Marwat is situated on the edge of the tribal region bordering Afghanistan, where the proscribed Tehreek-e-Taliban Pakistan (TTP) has frequently targeted police precincts and checkpoints, killing several law enforcement personnel in the past.
Pakistani authorities have often accused the Afghan administration in Kabul of aiding TTP militants in their cross-border attacks, an allegation Afghanistan denies.
Speaking to Arab News, Shahid Marwat, the district’s police spokesperson, said armed men kidnapped “17 civilians,” including the driver of the team working on the mining project.
“This unfortunate incident took place on Dara Tang Road this morning,” he said. “The kidnapped individuals worked on atomic energy's mining projects. A heavy police contingent has also been dispatched to locate the kidnappers.”
Marwat did not share further details, but the Pakistan Atomic Energy Commission (PAEC), a government agency responsible for the nuclear energy program, operates mining projects in various parts of the country.
Lakki Marwat has been a hotspot of militant activity that witnessed unprecedented protests last September, when police officers, joined by civil society members and tribal elders, staged sit-ins and blocked the Indus Highway.
The demonstrations followed a spate of militant attacks that killed several policemen, prompting members of the force to demand greater involvement and autonomy in counterterrorism operations.
While no group has officially claimed responsibility for the incident, some media outlets reported the TTP acknowledged its involvement.
Riaz Bangash, a Peshawar-based expert on the region’s security affairs, told Arab News the incident had raised serious questions about the state’s writ in the province.
“The southern districts of KP are totally neglected and are at the mercy of criminals amid vanishing government writ,” he said. “This is despite the fact that at this time all three top provincial officials, including the chief minister, governor, and inspector general of police, belong to these districts. Still, the region is in chaos.”
Bangash emphasized the importance of avoiding politicization of the region’s security issues and urged all political parties to unite and work out a joint strategy to address the “growing insecurity.”
This is not the first time such kidnappings have taken place in the region.
Last June, unidentified gunmen abducted 13 laborers from the southern Tank district of KP, who were later released. In November, armed men also abducted seven policemen from a check post in the northwestern district of Bannu, who were released after mediation by tribal elders.
So far, the government has not issued a statement about the incident.

RIYADH: Credit facilities extended to micro, small, and medium enterprises in Saudi Arabia grew by 22.6 percent year on year in the third quarter of 2024, totaling SR329.23 billion ($87.8 billion), according to official data. 

The Kingdom’s central bank, known as SAMA, revealed that 94.7 percent of these loans were provided by Saudi banks, while finance companies contributed 5.3 percent. 

MSME lending represented 9.1 percent of banks’ total loan portfolios and 18.8 percent of finance companies’ credit portfolios. 

The Saudi government has been actively encouraging financial institutions to allocate at least 20 percent of their loan portfolios to this critical sector, reflecting its strong and continued commitment to fostering business growth and economic diversification in line with Vision 2030. 

In the third quarter, medium-sized enterprises received the largest share of credit facilities, totalling 55 percent, or SR181.05 billion. 

Micro enterprises — those generating up to SR3 million in revenue with a workforce of no more than five employees — saw substantial growth, with credit increasing by 50.4 percent to SR36.14 billion, despite holding a smaller overall share. 

Credit to small enterprises, which made up 34 percent of MSME financing, rose by 30.4 percent to SR112.03 billion during the same period. 

The growth of SMEs in Saudi Arabia is driven by government-backed initiatives and Saudi Vision 2030’s ambitious reforms. 

Key programs include Kafalah for loan guarantees, Tamweel for connecting SMEs with financiers, and the Saudi Venture Capital Co. for startup investments. 

The Indirect Lending Initiative also enhances SME financing through intermediaries. 

Regulatory advancements, such as the 2015 Companies Law, NIDLP, and the National Center for Privatization, have improved the business environment.

Vision 2030 aims to boost SMEs’ GDP contribution to 35 percent by enhancing productivity, developing skills, improving infrastructure, and supporting sector diversification. 

Monsha’at key figures 

The Small and Medium Enterprises General Authority, also known as Monsha’at, drives SME growth by improving access to financing through collaborations with financial institutions and initiatives including the Kafalah Program, which is designed to boost lending. 

Monsha’at also champions entrepreneurship, supports business development with specialized training programs, and advocates for regulatory enhancements to create a more business-friendly environment. 

According to its third-quarter report, Saudi Arabia saw a significant surge in commercial registrations, which grew by 62 percent year on year to 135,909, with 46.8 percent attributed to female-owned businesses. 

This momentum points to MSMEs’ growing role as engines of innovation, job creation, and economic diversification, strengthening the foundation for sustainable, long-term growth. 

It highlights increasing entrepreneurial activity and business confidence, with more diverse participation across industries. 

The rise in female-owned businesses, in particular, reflects the success of government initiatives aimed at empowering women and fostering inclusivity in the economy, a core objective of Vision 2030. 

Regionally, Riyadh led with 39 percent of new commercial registrations, totaling 53,150, followed by Makkah with 18 percent, or 24,782, and the Eastern Province with 15 percent, amounting to 19,841.