‘A lot to offer’: Pakistan envoy to Saudi Arabia urges greater tech collaboration between both nations

Pakistan’s ambassador to Saudi Arabia, Ambassador Ahmed Farooq (top right), is seen attending a virtual tech-talk session, “AI: The Story of the New Wave – Opportunities and Risks,” hosted in Islamabad by the Pakistani embassy in Riyadh on August 18, 2024. (Pakistani embassy in Riyadh)
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Updated 18 August 2024
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‘A lot to offer’: Pakistan envoy to Saudi Arabia urges greater tech collaboration between both nations

  • Ambassador Ahmed Farooq says Pakistan’s IT sector has grown over the decades and includes some of the best global IT service providers
  • GenAI enterprise strategist Tariq Khan sees space for Pakistani experts in Saudi market, especially in health care workflow automation

ISLAMABAD: Pakistan’s Ambassador to Saudi Arabia, Ahmed Farooq, on Sunday emphasized the growing potential of collaboration between Pakistan and Saudi Arabia in the field of information technology (IT), saying that both countries had “a lot to offer” to each other in this regard.

The remarks came at a virtual tech-talk session, “AI: The Story of the New Wave – Opportunities and Risks,” hosted in Islamabad by the Pakistani embassy in Riyadh.

The event featured discussions led by Tariq Khan, a generative artificial intelligence (GenAI) expert and enterprise strategist at Pakistan’s Systems Ltd. tech company, and drew representatives from leading Saudi firms.

Addressing the event, Ambassador Farooq said the Pakistani mission in Saudi Arabia had been diligently working over the past year and a half to strengthen ties between tech industries of both nations.

“We believe that both countries have a lot to offer each other,” he said. “Greater collaboration between the tech sectors of both countries would be mutually beneficial.”

The Pakistani diplomat underscored that Pakistan’s IT sector had grown over the decades and included some of the best global IT service providers, stressing the importance of IT in Saudi Arabia’s Vision 2030 and the opportunities it presented for Pakistani professionals.

Saudi Arabia is consolidating its economy on modern lines under Vision 2030, which is a strategic development framework intended to cut the Kingdom’s reliance on oil by developing public service sectors such as IT, health, education, infrastructure, recreation and tourism.

“Significant investments are being made for developing capacities of local human resource and startups, and now we are seeing a thriving tech ecosystem in this country (Pakistan),” Ambassador Farooq said, urging for more direct interactions between Pakistani and Saudi tech companies and startups to foster deeper connections.

He noted that Pakistani educational institutions produced around 25,000 IT graduates annually, who were gaining relevant work experience across sectors such as AI, cybersecurity, and gaming.

“It is important to note that Pakistani companies are developing products and services across all IT fields creating a skilled workforce in the process,” the Pakistani diplomat said. 

Additionally, he said, the Pakistani embassy in Riyadh maintained liaison with all relevant stakeholders. 

“For example, we have shared Saudi vocational curriculum and requirements with Pakistani training institutions so that training programs for the Pakistani workforce can be adapted according to Saudi requirements thereby ensuring that our skilled professionals are equipped to meet relevant Saudi market requirements,” the ambassador said.

In his speech, Khan discussed the relevance of GenAI, capable of generating text, images, videos, or other data using generative models, and its potential in various thriving sectors in Saudi Arabia. He said his firm, Systems Ltd, had been approached by petroleum and oil companies in Saudi Arabia to explore AI capabilities for process optimization.

“Smart building in residential projects has a lot of potential between Pakistan and Saudi Arabia in terms of AI and intelligent decision-making tools and optimization tools,” Khan said, highlighting the potential for collaboration in smart grid management, energy material development and optimizing electricity and water usage in new residential projects.

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

In recent years, Pakistani tech firms have also been attending the annual LEAP exhibition, which showcases cutting-edge technology, artificial intelligence (AI) initiatives and innovations, in Riyadh to exhibit their IT prowess and innovative products.

AI could significantly benefit health care and insurance sectors in Saudi Arabia amid the Kingdom’s shift toward an insurance-based health care system, according to Khan. Pakistan’s expertise in health care workflow automation could be valuable in this context.

“Pakistan can help there a lot” the expert said. “We have not only AI companies that can automate health care processing and documentation, but we also have multiple companies in the country that already do, health care workflow automation.”

Speaking about concerns regarding displacement of jobs due to GenAI, Khan compared it to the airline industry and said while some jobs could be affected in the short term, new opportunities would emerge with the transformation.

“Gen AI will only increase the avenues and the places where we need help, and businesses will transform,” he said. “That’s why they will still require more people, just like airline industry that I mentioned, jobs are not going away in the long run.”


President of Azad Kashmir invites China to explore investments in disputed region

Updated 4 sec ago
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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.

Director of China’s Yunnan Sunny Road and Bridge Company, Li Ping (right) calls on Azad Jammu and Kashmir (AJK) President Sultan Mahmood Chaudhry in Muzaffarabad on January 21, 2025. (Radio Pakistan) 

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

Updated 22 min 51 sec ago
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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 discusses financial cooperation, banking sector partnerships with Saudi National Bank chairman

Updated 22 January 2025
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Pakistan finmin discusses financial cooperation, banking sector partnerships with Saudi National Bank chairman

  • 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

Updated 21 January 2025
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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

Updated 21 January 2025
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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.