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Pak-Saudi economic cooPeration, hiStoric tieS know no boundS: inveStment miniSter al Faleh Friday, 11 October, 2024 I | 7 Rabi ul Sani, 1446
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Minister Faleh expresses satisfaction over mutual trade volume, saying it has increased by 80pc — from $3b in 2019 to $5.4b
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Rs 20.00 | Vol XV No 94 I 8 Pages I Islamabad Edition
Aurangzeb lauds KSA’s support in economic ‘turnaround journey’ over the past 14 to 15 months
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COAS conveys ‘optimism for the promising outcomes that would mutually benefit both nations
General Munir appreciates unflinching support from His Majesty King Salman and Crown Prince Muhammad bin Salman
Pakistan and Saudi Arabia seal over $2b investment agreements
ISLAMABAD
STAFF REPORT
AUDI Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh on Thursday spoke highly of Pakistan-Saudi Arabia brotherly relations, saying there were “no limits” to the possibilities of economic cooperation between the two countries. “I think there are essentially no limits to what Saudi Arabia and Pakistan can do in the economic sphere, just like there are no limits to our friendship, to our bonds, to our historic relations,” visiting Saudi Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh said while addressing the Pakistan Saudi Arabia Business Forum in Islamabad on THursday. He confirmed that the two countries were presiding over 27 “organic agreements” and MoUs worth around $2bn, which would be signed throughout the day. “First and foremost, we want to support Pakistan in continuing its economic stabilisation. Without Pakistan reaching its economic stability, it’s very difficult to do things together,”
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the minister said, praising Pakistan’s efforts in the last two years as “quite impressive”. It is to be noted that the high-powered Saudi delegation led by Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh arrived in Islamabad on a three-day official visit Wednesday night. According to Prime Minister Shehbaz Sharif, Islamabad and Riyadh would sign agreements worth around $2 billion during the delegation’s visit, including trade and investment pacts as well as some Memorandums of Understanding (MoUs).
The Saudi delegation will also visit the Special Investment and Facilitation Council (SIFC) and discuss investment plans in various sectors. Referring to his meeting earlier today with Chief of Army Staff (COAS) General Asim Munir, Al Faleh said the former “spoke from the heart as well as from the mind, as well as expressing numbers that are very, very compelling with the value proposition to the Saudi private sector for partnering with Pakistan”.
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On Thursday, Prime Minister Shehbaz Sharif announced the signing of several memorandums of understanding (MoUs) with Saudi Arabia, securing over $2 billion in bilateral investment aimed at enhancing trade and economic cooperation. The ceremony in Islamabad was attended by Saudi Investment Minister Khalid Bin Abdul Aziz Al Falih and Chief of Army Staff General Syed Asim Munir. The Saudi delegation, which arrived for a three-day official visit, underscores the importance of the kingdom’s commitment to Pakistan, as emphasized by PM Sharif. “The visit by the Saudi delegation, led by the investment minister, is crucial. Crown Prince Mohammed bin Salman has a vested interest in Pakistan’s development,” stated PM Sharif during the signing event.
The grand Jirga brought political leaders from both the federal and KhyberPakhtunkhwa (KP) governments together to address challenges to peace and security in the region. The Jirga at the Chief Minister’s House in KP's provincial capital was hosted by Khyber Pakhtunkhwa Chief Minister Ali Amin Khan Gandapur, and attended by
prominent political figures, including Federal Interior Minister Mohsin Naqvi and KP Governor Faisal Karim Kundi. Members of the KP Assembly and leaders from various political parties also participated, showing a unified effort to address the province’s growing security concerns. Other politicians including Awami National Party (ANP)'s Aimal Wali Khan,
Mohsin Dawar, Mian Iftikhar Hussain, Qaumi Watan Party (QWP)'s Sikandar Sherpao, Pakistan Muslim League - Nawaz (PMLN) and Speaker Babar Salim Swati belonging to the Pakistan Tehreek-e-Insaf (PTI) were among the key figures attending the meeting, alongside PTI Chairman Barrister Gohar. On Sunday, the federal government imposed a ban on the PTM, citing threats to na-
He expressed optimism that this investment would strengthen bilateral cooperation further, assuring that the government is committed to facilitating the implementation of these agreements. “Economic relations between our two nations will continue to flourish. Pakistan and Saudi Arabia share decades of brotherly ties,” he added. The prime minister acknowledged Saudi Arabia’s unwavering support for Pakistan and deemed the minister’s visit a significant step towards enhancing investment and economic relations. The meeting also included Deputy Prime Minister Ishaq Dar and other senior officials. PM Sharif noted the pivotal role of the Special Investment Facilitation Council (SIFC) in attracting foreign investment and welcomed the Saudi delegation with an overview of Pakistan’s privatization plans.
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Jirga authorises Gandapur to resolve peace-related issues ahead of PTM gathering PESHAWAR
STAFF REPORT
A grand jirga on Thursday authorised Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur to resolve peace-related issues in the province ahead of a three-day gathering being organised by the recently proscribed Pashtun Tahaffuz Movement (PTM).
tional peace and security. On Tuesday, the KP government prohibited its officials and employees from engaging with the three-day Pashtoon Qaumi Jirga, also called the Pashtun Qaumi Adalat, organised by the PTM and issued a public warning against any association. Khyber Deputy Commissioner retired Captain Sanaullah Khan also imposed Section 144 in the district for 30 days.