ISLAMABAD: Pakistan and Saudi Arabia have signed the Hajj agreement 2025, the spokesperson of Pakistan’s religion ministry said on Monday, according to which 179,210 pilgrims from the South Asian country would be able to perform the annual pilgrimage this year.

The agreement was signed by Pakistan’s Religious Affairs Minister Chaudhry Salik Hussain and Saudi Minister of Hajj and Umra Dr. Tawfiq bin Fawzan Al-Rabi’ah in Jeddah. Hussain arrived in the Kingdom on Sunday for a three-day visit to attend the Global Hajj and Umrah Conference and Expo in Jeddah. 

“As per the agreement, 179,210 Pakistanis will perform the Hajj this year,” the religious affairs ministry’s spokesperson said, according to Pakistan’s Press Information Department (PID). “It has been agreed to provide Pakistani Hajj pilgrims the best possible facilities.”

The spokesperson said Pakistani Hajj pilgrims will be provided a special place in Mina where the rates will be low, the spokesperson said. 

“A shortened Hajj program of 20 to 25 days has been introduced to make the Hajj journey more accessible, easy and comfortable,” he said, adding that pilgrims will have the option to spend four to eight days in Madinah during the Hajj. 

He said every Pakistani pilgrim will receive a specially designed bag containing the Pakistani flag, QR code for identification and information relevant to the Hajj. 

The spokesperson said Hussain will participate in the four-day Hajj conference, adding that more agreements will also be signed with institutions and companies responsible for providing facilities to pilgrims. 

Pakistan’s quota of 179,210 Hajj pilgrims for Pakistan in 2025 will be divided equally between government and private schemes.

For the first time, Pakistan’s Hajj policy allowed pilgrims last year to make payments in installments. Under this scheme, the first installment of Rs 200,000 ($717) had to be submitted with the application, the second installment of Rs 400,000 ($1,435) within 10 days of balloting and the remaining amount by Feb. 10 this year.

The Pakistani religious affairs ministry has also launched the Pak Hajj 2025 mobile application, available for both Android and iPhone users, to guide pilgrims. Additionally, the government announced a reduction in airfare, lowering ticket prices for federal program pilgrims to Rs 220,000 [$785.41], down from last year’s Rs 234,000 [$835.39].

Pakistan International Airlines, Saudi Airlines, and private carriers have agreed to transport pilgrims this year.

ISLAMABAD: Finance Minister Muhammad Aurangzeb will take part in the two-day Asian Financial Forum (AFF) summit today, Monday, in Hong Kong where he is expected to meet top business officials and financial sector analysts as Pakistan navigates a tricky path to economic recovery. 

The AFF is the region’s premier platform that brings together influential leaders from government, finance, and business communities globally for ground-breaking discussions and exchange of insights on the global economy from an Asian perspective.

Pakistan’s state media reported on Sunday that the finance minister will meet Chinese and foreign officials, financial sector experts, professionals, investors and top businessmen during the summit. These include the heads of China International Capital Corporation Limited, China New Energy Sky Rail Limited and Asian Infrastructure Investment Bank.

“The #AsianFinancialForum has officially commenced! In two days’ time, we’ll explore the theme “Power the Next Growth Engine” with some of the brightest minds in global finance and business,” the AFF wrote on social media platform X. 

At the eve of the summit, Aurangzeb met business officials of Servis Long March, Pakistani manufacturer of all-steel radial truck & bus tires, to discuss the importance of attracting foreign investment and presence of Pakistani businesses in international financial markets, the state-run Associated Press of Pakistan (APP) reported. 

“The discussions also focused on the broader implications of this collaboration, emphasizing the need to enhance Pakistan’s presence in international financial markets and attract foreign investment,” APP reported.
 
The minister met the company’s Chairman Jin Yongsheng and Chief Executive Officer Omar Saeed. Both sides discussed the potential benefits of listing on an international platform to access global capital markets. 

Aurangzeb appreciated Servis Long March’s intention to list on the Hong Kong Stock Exchange, assuring it of the government’s support, the APP said. He said Islamabad would also support other companies pursuing international equity capital raising.

“The meeting concluded with a mutual understanding of the need for continued dialogue and cooperation to address the complexities of international listings and capital raising,” APP reported. 

The Pakistani finance minister will also hold interactions with foreign media, which include speaking to international publications such as Bloomberg, Nikkei Asia and other media representatives during the summit. 

His visit to Hong Kong takes place as Pakistan attempts to ward off an economic crisis that has drained its resources and triggered a balance of payments headache for the country over the past two years.

Pakistan has made some economic gains since 2023 by slashing inflation to single-digit figures from a record high of 38 percent in May 2023 and registering gains in the stock market.