Saudi investment minister says 27 agreements worth $2 billion to be signed with Pakistan today

Special Saudi investment minister says 27 agreements worth $2 billion to be signed with Pakistan today
Saudi Arabia’s Investment Minister Khalid bin Abdulaziz Al-Falih speaks during the inauguration of Pak-Saudi Business Forum 2024 in Islamabad on October 10, 2024. (Photo courtesy: Urdu News)
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Updated 10 October 2024
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Saudi investment minister says 27 agreements worth $2 billion to be signed with Pakistan today

Saudi investment minister says 27 agreements worth $2 billion to be signed with Pakistan today
  • Al-Falih says Riyadh wants to give large share of $200 billion in annual construction, material procurement contracts to Pakistan
  • Al-Falih said trade between Pakistan and the Kingdom had increased by 80% from $3 billion in 2019 to $5.4 billion dollars currently

ISLAMABAD: Saudi Arabia’s Investment Minister Khalid bin Abdulaziz Al-Falih said on Thursday 27 agreements and memorandums of understanding (MoU) worth $ 2 billion would be signed today, Thursday, with Pakistan, and the Kingdom hoped to give a large share of $200 billion in annual construction and material procurement contracts to Islamabad in the future. 
Al-Falih was addressing a joint business forum in Islamabad during a three-day visit with a delegation of over 130 members, including representatives from Saudi companies specializing in energy, mining, minerals, agriculture, business, tourism, industry, and manpower.
“Pakistani Prime minister will be speaking to the Saudi delegation later this evening and will be presiding over an exchange of agreements and MOUs totaling 27 that will be signed throughout the day,” Al Falih said as he addressed the Pak-Saudi Business Forum 2024. 
He said many of the $2 billion agreements had already been negotiated and agreed upon.
The investment minister said Saudi Arabia, the largest construction site in the world, would in the next few years be awarding construction and material procurement contracts to the tune of around $1.8 trillion.
Saudi Arabia is set to become the world’s largest construction market as the Kingdom pours vast amounts of money into projects aimed at overhauling and diversifying the economy. The country’s total construction output value is forecast to reach $181.5 billion by the end of 2028, up almost 30 percent from 2023 levels, according to a 2024 report by global property consultancy Knight Frank.
“Last year, the value of construction and EPC [engineering, procurement, and construction] procurement, including materials, was $150 billion, this year that’s $180 billion and it will be about $200 billion annually of contract and material procurement awards year after year,” Al-Falih said. 
“Fortunately for our partners here in Pakistan, a lot of the input into those contracts is going to be imported and we want it to be imported from Pakistan. All things being equal, in fact, we will compromise a little bit to make it come from Pakistan.”
Al-Falih said trade between Pakistan and the Kingdom had increased by 80 percent from $3 billion in 2019 to $5.4 billion dollars currently, adding that Saudi Arabia was “encouraged” by the number of Pakistani investment licenses, which had more than doubled in the last couple of years, reaching 2,000 Pakistani investors in Saudi Arabia. 
“The Foreign Direct Investment (FDI) stock in Saudi Arabia of Pakistani investment is already exceeding $1.6 dollars and we are committed to and extremely encouraged by the announcement by His Royal Highness the Crown Prince, committing the front end of Saudi investment into Pakistan, which is $5 billion,” the minister said.
Al-Falih’s visit to Islamabad comes as Pakistan seeks closer cooperation in trade, infrastructure, energy and other sectors with friendly countries and regional allies, with the aim to attract foreign investment and shore up its $350 billion economy, beset by a prolonged economic crisis that has drained foreign exchange reserves and weakened the national currency.
Pakistan and Saudi Arabia in particular have been working closely in recent months to increase bilateral trade and investment, with Crown Prince Mohamed bin Salman reaffirming the Kingdom’s commitment this year to expedite a $5 billion investment package for the South Asian country.
Last month, the International Monetary Fund’s board approved a long-awaited $7 billion bailout deal for Pakistan’s struggling economy. The IMF said the new program will require “sound policies and reforms” to strengthen macroeconomic stability and address structural challenges alongside “continued strong financial support from Pakistan’s development and bilateral partners.”
“STRATEGIC PARTNERSHIP”
Addressing the business forum, Pakistani Deputy Prime Minister Ishaq Dar said Pakistan had vast potential in sectors such as mining, information technology, agriculture, and renewable energy, inviting Saudi businesses to participate in “mutually beneficial” opportunities and ventures.

“The MOUs signed today include a wide range of sectors, mainly semiconductors, energy, livestock, manpower and IT and these MOUs are the result of dedicated follow-up by your side and our side, public and private sector entities, of the direction given by the leadership of both countries,” Dar said.
The deputy PM said Pakistanis were “eagerly awaiting” the visit of the Saudi Crown Prince Mohammed bin Salman to Pakistan. 
“This visit will not only further strengthen and put a strong bond in our strategic partnership but will also be a way for more collective efforts in various sectors we are currently located,” he added.

Inaugurating the forum, Pakistan’s Commerce Minister Jam Kamal said Pakistan would organize a single country exhibition in Jeddah in 2025 to promote its trade potential and attract investment.
“Pakistan’s exports are only two percent of Saudi Arabia’s total trade, and an increase in Pakistani exports to the Kingdom is essential,” he said, adding that Pakistani companies could play an important role in the construction, IT and agriculture sectors in the Kingdom.


Saudi Arabia’s KSrelief continues relief efforts in Pakistan, Lebanon and Syria

Saudi Arabia’s KSrelief continues relief efforts in Pakistan, Lebanon and Syria
Updated 02 February 2025
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Saudi Arabia’s KSrelief continues relief efforts in Pakistan, Lebanon and Syria

Saudi Arabia’s KSrelief continues relief efforts in Pakistan, Lebanon and Syria
  • The charity distributed 2,160 food packages in Khyber Pakhtunkhwa’s Battagram and Buner districts as well as Sukkur in Sindh
  • The aid was given to families in flood-affected areas as part of the Saudi organization’s Food Security Support Project 2025

RIYADH: The King Salman Humanitarian Aid and Relief Center’s (KSrelief) humanitarian and relief efforts continue with the distribution of food, hygiene supplies as well as the provision of emergency transport services.

In in Ma’arrat Misrin of Syria’s Idlib Governorate, KSrelief handed out 672 food boxes and 672 hygiene kits as part of the second phase of the food aid and hygiene kit distribution project for populations affected by the earthquake in 2025.

In Lebanon’s Akkar Governorate and Miniyeh district, the aid agency during the past week distributed 175,000 bags of bread to Syrian and Palestinian refugees as well as residents of host communities. The initiative was part of the fourth phase of Al-Amal Charitable Bakery Project in the country.

In the Battagram and Buner districts of Khyber Pakhtunkhwa province, as well as the Sukkur district in Sindh province of Pakistan, 2,160 food packages were given to families in flood-affected areas as part of the Food Security Support Project 2025

Meanwhile, KSrelief delivered 125 tons of dates to Sudan as a gift from the Kingdom.

In north Lebanon, the KSrelief-funded ambulance service of Subul Al-Salam Social Association in the Miniyeh district carried out 61 missions during the past week, including transporting patients to and from hospitals and treating burn injuries.


Islamabad lawyers call strike today over ‘unconstitutional’ transfer of judges

Islamabad lawyers call strike today over ‘unconstitutional’ transfer of judges
Updated 02 February 2025
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Islamabad lawyers call strike today over ‘unconstitutional’ transfer of judges

Islamabad lawyers call strike today over ‘unconstitutional’ transfer of judges
  • The development comes a day after Pakistan’s president approved transfer of three judges from Sindh, Balochistan and Lahore to Islamabad High Court
  • Pakistan’s constitution empowers the president to transfer a judge from one high court to another after the concerned judge consents to the decision

ISLAMABAD: The Islamabad Bar Council (IBC), Islamabad High Court Bar Association (IHCBA) and the Islamabad District Bar Association (IDBA) have announced a strike on Monday to protest recent transfer of judges to the Islamabad High Court (IHC), calling them “unconstitutional measures affecting the judiciary and the legal profession.”
The announcement was made after a joint meeting of lawyer bodies a day after President Asif Ali Zardari approved the transfer of three judges from the high courts of Sindh, Balochistan and Lahore to the Islamabad High Court (IHC), amid opposition from five IHC judges.
Zardari approved the transfers of Justice Sardar Muhammad Sarfraz Dogar from the Lahore High Court (LHC), the Sindh High Court’s (SHC) Justice Khadim Hussain Soomro and the Balochistan High Court’s (BHC) Justice Muhammad Asif to the IHC. Local media reported the government was considering elevating Justice Dogar to the post of the IHC chief justice.
In a statement issued after Sunday’s meeting of lawyer bodies, the IBC said the legal fraternity of Islamabad “strongly condemns” the recent notification regarding the transfer of judges from other provinces to the Islamabad High Court, describing the move as a “direct violation of the principles of judicial independence and regional representation.”
“It undermines the autonomy of the Islamabad high Court,” the IBC said. “The legal fraternity of Islamabad ensures its commitment to resist the unjustified transfers and appointments of judges from other provinces.”
Pakistan’s constitution empowers the president to transfer a judge from one high court to another after the concerned judge consents to the decision. The president can approve the transfer after consulting the chief justice of Pakistan and the chief justice of both high courts.
On Friday, five of 10 IHC judges opposed Justice Dogar’s transfer in a letter addressed to the chief justices of the Supreme Court and high courts. The five judges said if the decision to transfer the judge was aimed at elevating him to the post of IHC chief justice, it would be a “fraud on the constitution.”
The IBC said the lawyer bodies will pursue all legal and constitutional avenues to challenge the move and safeguard the “judicial independence of Islamabad.”
“An All-Pakistan Lawyers’ Convention will be held under the Islamabad Bar Council tomorrow... to formulate future strategy,” it said on Sunday.


Pakistan deputy PM reviews preparations for key talks with Qatar next week

Pakistan deputy PM reviews preparations for key talks with Qatar next week
Updated 02 February 2025
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Pakistan deputy PM reviews preparations for key talks with Qatar next week

Pakistan deputy PM reviews preparations for key talks with Qatar next week
  • The bilateral talks in Doha, starting on Feb. 5, are expected to cover areas such as trade, investment and defense collaboration
  • They come at a time when Pakistan is seeking to boost foreign investment and trade to put its fragile economy on path of recovery

ISLAMABAD: Pakistan’s deputy prime minister and foreign minister, Senator Ishaq Dar, has held an inter-ministerial meeting to review preparations for the upcoming Pakistan-Qatar Bilateral Political Consultations in Doha next week, Pakistani state media reported on Sunday.
The bilateral talks in Doha, starting on Feb. 5, are expected to cover key areas, including trade, investment, defense collaboration, and mutual diplomatic interests.
Besides leading Pakistan’s delegation at the talks, Dar will hold meetings with the Qatari leadership, a Pakistani foreign office spokesperson said on Friday.
During Sunday’s meeting, officials briefed the deputy prime minister on the status of various Pakistan-Qatar initiatives, the Radio Pakistan broadcaster reported.
“The deputy prime minister and foreign minister underscored that preparations should be made for substantive, productive and result oriented discussions in Doha,” the report read.
The talks come months after Prime Minister Shehbaz Sharif visited Qatar in Oct. 2024 to bolster economic cooperation between the two countries. Sharif led delegation-level talks with the Qatari emir, Sheikh Tamim bin Hamad Al-Thani, before holding a separate meeting with him to discuss a wide array of issues.
“The leaders reviewed the entire spectrum of Pakistan-Qatar relations, exploring potential avenues for enhanced cooperation in trade, potential areas of investment, energy, and culture,” Sharif’s office said at the time.
Pakistan and Qatar have longstanding economic, defense and cultural relations. In 2022, the Qatar Investment Authority committed $3 billion for projects in Pakistan, spanning airport management, renewable energy and hospitality.
The talks between both countries are occurring at a time when Islamabad is seeking to boost foreign investment and trade to support its dwindling economy, which is on a tricky path to recovery since Pakistan avoided a default in June 2023.


Pakistan demands ‘urgent action’ to protect world wetlands to mitigate climate crisis

Pakistan demands ‘urgent action’ to protect world wetlands to mitigate climate crisis
Updated 02 February 2025
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Pakistan demands ‘urgent action’ to protect world wetlands to mitigate climate crisis

Pakistan demands ‘urgent action’ to protect world wetlands to mitigate climate crisis
  • Wetlands are defined as both freshwater and coastal and marine ecosystems that are vital to human well-being and sustainable development
  • These ecosystems act as natural buffers against floods and function as carbon sinks, which helps mitigate the effects of global warming

ISLAMABAD: Pakistan on Sunday called on the world to take “urgent action” to safeguard wetlands, emphasizing their significant role in environmental preservation, biodiversity, and combating impacts of climate change.
The statement by Romina Khurshid Alam, the Pakistan prime minister’s coordinator on climate change, came on the World Wetlands Day being observed under the theme “Wetlands and Water.” Alam called for strengthened global and national efforts to safeguard these vital ecosystems.
The United Nations (UN) has designated Feb. 2 as World Wetlands Day to commemorate the adoption of the Ramsar Convention on Wetlands in 1971. As part of Pakistan’s commitment to the Ramsar Convention, the country has designated 19 wetlands of international importance, including the famous Keenjhar Lake, Rann of Kutch, and the Haleji Lake, which support a wide variety of wildlife, especially for around 2 million migratory birds from countries in Central Asia, Siberia and northern parts of Europe.
The Pakistan PM’s aide stated that climate change has exacerbated the challenges faced by wetlands in Pakistan, with rising temperatures, changing rainfall patterns, and increasing sea levels causing wetlands to shrink disrupting the delicate balance of these ecosystems.
“As we observe World Wetland Day, it is essential that we commit taking action not just today but every day to safeguard the wetlands and the countless species that depend on them,” Alam said. “By collaborating, we can preserve these precious resources and build a sustainable future of environment.”
Wetlands are defined as both freshwater and coastal and marine ecosystems, and include all lakes and rivers, swamps, marshes, peatlands, estuaries, deltas, tidal flats, mangroves, coral reefs, and underground aquifers.
These areas are vital to human well-being and sustainable development but despite their critical role, wetlands are among the ecosystems with the highest rates of decline, loss and degradation, according to environmental experts.
Alam noted that although Pakistan contributes only 1 percent to global greenhouse gas emissions, it has been ranked among top ten climate-vulnerable nations.
“This stark disparity highlights the country’s heightened risk to the effects of climate change, such as extreme weather events, floods, droughts, and rising temperatures, which pose significant threats to its population, economy, and place additional pressure on its wetland resources,” she said, emphasizing that wetlands act as natural buffers against floods and function as carbon sinks, which helps mitigate the effects of global warming.
Pakistan last year recorded its “wettest April since 1961,” with 59.3 millimeters of rainfall while some areas of the country faced a heat wave in May and June. In 2022, unusually heavy rains triggered flash floods in many parts of the country, killing over 1,700 people, inflicting losses of around $30 billion, and affecting at least 30 million people.
Scientists have attributed Pakistan’s erratic weather patterns to climate change effects and called on countries around the world to take urgent steps to tackle the crisis.
Alam reaffirmed Pakistan’s commitment to protecting these vital ecosystems by strengthening environmental policies, promoting sustainable water management, and working closely with local communities to ensure that wetlands are preserved for future generations.
“Pakistan has shown resilience in the face of climate change, and our government is continuously taking steps to address environmental degradation,” she said. “Wetlands, especially in regions like the Indus Delta, play a crucial role in maintaining the ecological balance and supporting livelihoods.”


Pakistan launches first anti-polio drive of 2025, appreciates Saudi support in disease eradication

Pakistan launches first anti-polio drive of 2025, appreciates Saudi support in disease eradication
Updated 02 February 2025
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Pakistan launches first anti-polio drive of 2025, appreciates Saudi support in disease eradication

Pakistan launches first anti-polio drive of 2025, appreciates Saudi support in disease eradication
  • Pakistan reported a total of 73 polio cases last year amid a resurgence of virus
  • Shehbaz Sharif says Saudi Arabia has pumped in hundreds of millions to fight polio

ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday thanked Saudi Arabia for joining hands with Pakistan and its global partners in their fight against polio as he launched a nationwide anti-polio drive, which aims to vaccinate more than 40 million children under the age of five years.
Polio is a paralyzing disease that has no cure. Multiple doses of the oral polio vaccine and completion of the routine vaccination schedule for all children under the age of five is essential to provide children high immunity against this terrible disease.
The Pakistan polio program conducts multiple mass vaccination drives in a year, and this year’s first anti-polio vaccination campaign will formally begin on Monday, Feb. 3 and continue until Feb. 9.
PM Sharif noted that Pakistan reported over 70 cases of the virus last year, while the country has reported one polio case this year, launching the campaign by administering anti-polio vaccine to children in Islamabad.
“Now, our brotherly country, Kingdom of Saudi Arabia, has again joined hands [with Pakistan and global partners] against polio and they have pumped in hundreds of millions of dollars for this purpose,” Sharif said.
“I hope we will be able to, this time around, with coordinated and outstanding team efforts, [we] will be able to eradicate this disease from the face of Pakistan.”
Pakistan reported a total of 73 polio cases in 2024. Of these, 27 were from Balochistan, 22 from Khyber Pakhtunkhwa, 22 from Sindh, and one each from Punjab and Islamabad. The country reported its first case of 2025 in Dera Ismail Khan on Jan. 22.
Pakistan and Afghanistan are the last two countries in the world where polio remains an endemic.
Immunization campaigns have succeeded in most countries and have come close in Pakistan, but persistent problems remain. In the early 1990s, Pakistan reported around 20,000 cases annually but in 2018 the number dropped to eight cases. Six cases were reported in 2023 and only one in 2021.
Pakistan’s polio program began in 1994 but efforts to eradicate the virus have since been undermined by vaccine misinformation and opposition from some religious hard-liners who say immunization is a foreign ploy to sterilize Muslim children or a cover for Western spies. Militant groups also frequently attack and kill members of polio vaccine teams.