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Saudi minister announces $2.2 billion investment deals with Pakistan enhanced to $2.8 billion

Saudi minister announces $2.2 billion investment deals with Pakistan enhanced to $2.8 billion
Prime Minister Shehbaz Sharif and Saudi Investment Minister Khalid bin Abdulaziz Al-Falih address a joint presser at the Saudi Royal Court Mohammad Bin Mazyad Al-Tuwaijri on the sidelines of the 8th Future Investment Initiative Conference in Riyadh on October 30, 2024. (PMO)
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Updated 30 October 2024

Saudi minister announces $2.2 billion investment deals with Pakistan enhanced to $2.8 billion

Saudi minister announces $2.2 billion investment deals with Pakistan enhanced to $2.8 billion
  • The deals between Saudi and Pakistani companies were signed during Saudi investment minister’s visit to Islamabad earlier this month
  • Saudi Crown Prince Mohammed bin Salman this year reaffirmed his commitment to expedite $5 billion investment package for Pakistan

ISLAMABAD: Saudi Minister for Investment Khalid bin Abdulaziz Al-Falih said on Wednesday $2.2 billion in agreements and memorandums of understanding (MoUs) signed between Saudi and Pakistani businesses earlier this month had been enhanced to $2.8 billion.
The business-to-business collaborations were signed on Oct. 10 during Al-Falih’s visit to Islamabad with a delegation of top investors and entrepreneurs from the Kingdom.
Pakistani Prime Minister Shehbaz Sharif is currently on a two-day visit to Riyadh where he attended the Future Investment Initiative (FII) forum on Tuesday and also held a bilateral meeting with Saudi Crown Prince Mohammed bin Salman who earlier this year reaffirmed the Kingdom’s commitment to expedite a $5 billion investment package for Pakistan.
“When we came to Pakistan, we concluded in three days 27 MoUs valued at $2.2 billion,” Al-Falih said in a televised press talk with Sharif. 
“And I mentioned during that time at various events that this was only the beginning. To prove that, here we are two or three weeks later, and I would like that that number has increased from 27 MoUs and agreements to 34 MoUs.
“So, we have been able to add another seven, almost two per week. And I think more importantly, the value of those agreements has also increased to $2.8 billion.”
The Saudi minister said five agreements signed during his trip to Pakistan were already operational and had resulted in exports from the South Asian state to the Kingdom. Al-Falih said Ƶ would also absorb a greater and more qualified Pakistani workforce, especially in the health sector, in the foreseeable future.
“Remittances back to Pakistan will be on the rise,” the official said. “The first results will be seen in the next few weeks.”
Al-Falih said Ƶ would also seek help from Pakistani technology firms to transform the way digital artificial intelligence was used for business and the economy.
Sharif thanked the Saudi government, especially Crown Prince Mohammed, for helping Pakistan secure a $7 billion International Monetary Fund (IMF) program last month by helping Islamabad meet its external financing needs.

The PM added that he planned to return to Ƶ next month for more discussions on bilateral engagements.
“Together we are marching forward, together we are strengthening our brotherly relations,” he said.
The Pakistani PM’s visit takes place at a time when Islamabad is seeking to strengthen trade and investment ties with friendly nations, particularly the Kingdom, which has promised a $5 billion investment package that cash-strapped Pakistan desperately needs to shore up its dwindling foreign reserves and fight a chronic balance of payment crisis.


Pakistan invites Chinese companies to invest in renewable energy to cut reliance on fuel imports

Pakistan invites Chinese companies to invest in renewable energy to cut reliance on fuel imports
Updated 49 sec ago

Pakistan invites Chinese companies to invest in renewable energy to cut reliance on fuel imports

Pakistan invites Chinese companies to invest in renewable energy to cut reliance on fuel imports
  • Pakistan’s envoy to China says country has natural advantage for renewable energy resources with over 1,000 km coastline
  • Pakistan has suffered from an energy crisis stemming largely from gap in country’s energy supplies and electricity demand

ISLAMABAD: Pakistan’s ambassador to China has invited Chinese companies to invest in the country’s renewable energy and offshore wind sectors, state-run media reported on Monday, as Islamabad seeks to cut its reliance on expensive fuel imports amid its prolonged energy crisis. 
Pakistan has suffered from an energy crisis that stems largely from a gap in the country’s energy supplies and electricity demand, with the South Asian country’s reliance on expensive energy imports drains its resources and triggers inflation. 
According to National Electric Power Regulatory Authority’s (NEPRA) 2022 yearly report, Pakistan’s total installed power generation capacity is 43,775 MW, of which 59 percent of energy comes from thermal (fossil fuels), 25 percent from hydro, 7 percent from renewable (wind, solar and biomass) and 9 percent from nuclear energy resources. 
“Pakistan’s Ambassador to China, Khalil Hashmi has said that Pakistan has a natural advantage for renewable resources of energy with its long coastline of over one thousand kilometers,” Radio Pakistan reported. “He invited Chinese investors to explore the opportunities available in Pakistani offshore wind industry.”
The Pakistani envoy was speaking at a seminar titled “High-Quality Development of Offshore Wind Power Supply Chain” at the Chinese city of Fuzhou, Radio Pakistan said. 
He appreciated China’s rapid advancements in the offshore wind industry sector, underlining the need for enhanced bilateral cooperation by strengthening technology exchanges, infrastructure development and regulatory support, the state broadcaster said. 
Pakistan’s power minister last month met his counterpart from Iran and Chinese energy officials to discuss enhanced cooperation in cross-border energy on the sidelines of the Third Belt & Road Ministerial Conference held in Qingdao, China in October.
The Pakistani minister also held separate meetings with Yao Huan, vice president of Power China and Ni Zhen, the general manager of Energy China, in Qingdao. During the meeting, Leghari conveyed Pakistan’s desire to modernize power dispatch and transmission systems, aimed at cutting lines and other losses, the power ministry had said.


Pakistan Cricket Board says Gillespie to remain head coach for South Africa series

Pakistan Cricket Board says Gillespie to remain head coach for South Africa series
Updated 26 min 1 sec ago

Pakistan Cricket Board says Gillespie to remain head coach for South Africa series

Pakistan Cricket Board says Gillespie to remain head coach for South Africa series
  • PCB rejects media reports of ex-cricketer Aaqib Javed replacing Gillespie
  • Pakistan will play all-format away series against South Africa in December/January

ISLAMABAD: The Pakistan Cricket Board (PCB) on Sunday strongly refuted speculation it was about to replace the national squad’s Head Coach Jason Gillespie with former world cup winner Aaqib Javed, saying Gillespie will continue in the role for Pakistan’s Test series against South Africa in December/January 2025.
Multiple media outlets reported last week that the PCB was set to appoint Javed, who is currently the convener of Pakistan’s national selection committee, as head coach of the men’s team across all formats. Gillespie is Pakistan’s Test coach and currently the interim coach of the white-ball side.
The former Australian pacer was appointed as interim white-ball coach after his predecessor, Gary Kirsten, resigned from the post in October. According to local media outlets, Kirsten resigned following disagreements with the cricket board over its decision to strip him of selection powers.
“As announced previously, Jason Gillespie will continue to coach the Pakistan side for the two red-ball matches against South Africa,” the PCB wrote on social media platform X.
Pakistan are scheduled to play three T20Is, three ODIs and two Test matches in an away series against South Africa in December/January 2025. The PCB have not confirmed if Gillespie will be the head coach for any series beyond those two Tests against South Africa, though he does have a contract with the board till 2026. Pakistan have a two-Test home series against West Indies immediately following the Tests in South Africa.
Citing a PCB official in its report on Sunday, ESPNcricinfo said the board decided to replace Gillespie on account of him not spending enough time in Pakistan.
“ESPNcricinfo understands Gillespie’s view is that he has spent every day his contract demanded he be in Pakistan within the country, in addition to which he also did the Shaheens tour of Darwin without pay as a gesture of goodwill,” the website reported. 
Pakistan have a busy cricket schedule ahead, with the green shirts set to play a three-match ODI series against Zimbabwe starting Sunday after which they play the all-format series in South Africa. Their next home series is a two-match Test series against the West Indies at the end of January, and their only white-ball games before the Champions Trophy come in a short tri-series against South Africa and New Zealand in February.
The PCB has come under increasing criticism for the high rate of turnover at the board. In November 2023, then team director Mickey Arthur was told by then PCB chairman Zaka Ashraf he would not be going with the team for the Test series in Australia in January 2024. Former Pakistan cricketer Mohammad Hafeez was appointed team director for that tour. 
Arthur and Grant Bradburn, then head coach, parted ways with the PCB soon after. Pakistan’s Interior Minister Mohsin Naqvi assumed the PCB chair weeks later, beginning the hunt for Pakistan’s white and red-ball coaches, with the posts ultimately going to Gillespie and Kirsten.


Indian Sikh pilgrims to visit Kartarpur today to mark birth anniversary of religion’s founder

Indian Sikh pilgrims to visit Kartarpur today to mark birth anniversary of religion’s founder
Updated 18 November 2024

Indian Sikh pilgrims to visit Kartarpur today to mark birth anniversary of religion’s founder

Indian Sikh pilgrims to visit Kartarpur today to mark birth anniversary of religion’s founder
  • Sikh pilgrims from India cross over into Pakistan every year via visa-free Kartarpur Corridor
  • Gurdwara Darbar Sahib in Kartarpur, Narowal, is Sikhism founder’s final resting place

ISLAMABAD: Indian Sikh pilgrims will visit Gurdwara Darbar Sahib in the eastern Kartarpur town today, Monday, to mark the 555th birth anniversary of their religion’s founder Baba Guru Nanak Dev Ji, state media reported. 
Every year Indian Sikh pilgrims cross over from India to Pakistan via a visa-free border crossing known as the Kartarpur Corridor. The corridor connects Gurdwara Darbar Sahib, near Narowal in Pakistan’s Punjab, to Gurudwara Dera Baba Nanak in Indian Punjab’s Gurdaspur district. 
Inaugurated in 2019, the corridor is seen as a rare example of cooperation and diplomacy between the two South Asian neighbors.
“Sikh pilgrims will visit Gurdwara Darbar Sahib Kartarpur on Monday to celebrate the 555th birth anniversary of Baba Guru Nanak Dev Ji,” state broadcaster Radio Pakistan reported.
It said that the pilgrims would visit Gurdwara Rohri Sahib in Eminabad on Wednesday before concluding their journey in Pakistan’s eastern city of Lahore.
Much of Sikh heritage is located in Pakistan. When Pakistan was carved out of India at the end of British rule in 1947, Kartarpur ended up on the Pakistani side of the border, while most of the region’s Sikhs remained on the other side.
For over seven decades, the Sikh community had lobbied for easier access to their holiest temple.
Pakistan’s initiative to open the corridor earned widespread appreciation from the international community, including the United Nations Secretary-General António Guterres, who had described it as a “Corridor of Hope.”


Fly Jinnah celebrates inaugural Lahore-Dammam flight amid Saudi expansion

Fly Jinnah celebrates inaugural Lahore-Dammam flight amid Saudi expansion
Updated 18 November 2024

Fly Jinnah celebrates inaugural Lahore-Dammam flight amid Saudi expansion

Fly Jinnah celebrates inaugural Lahore-Dammam flight amid Saudi expansion
  • Pakistan’s low-cost airline began domestic operations in 2022 and is now focusing on the Middle East
  • Fly Jinnah has also been connecting Pakistani cities to Sharjah, Riyadh and Jeddah, as PIA struggles

KARACHI: Fly Jinnah, Pakistan’s low-cost airline, celebrated its inaugural flight from Lahore to Dammam on Sunday, further enhancing air connectivity between the South Asian nation and Ƶ amid growing demand for international travel.
Established in 2021 as a joint venture between Pakistan’s Lakson Group and the United Arab Emirates’ Air Arabia Group, Fly Jinnah began domestic operations in October 2022, connecting major Pakistani cities such as Karachi, Islamabad, Lahore, Peshawar and Quetta.
In February 2024, the airline launched its first international route, connecting Islamabad to Sharjah, before expanding to Ƶ— home to an estimated 2.7 million Pakistanis— with flights to Riyadh and Jeddah.
“We are happy to celebrate our inaugural flight from Lahore to Dammam, further enhancing connectivity between Pakistan and Ƶ for our passengers,” the airline said in a social media post.


The first flight to Dammam in the kingdom’s Eastern Province was operated a day earlier. A substantial number of Pakistani families reside in and around the Saudi city, drawn by job opportunities in the oil-rich region.
The addition of Dammam to its network highlights Fly Jinnah’s aim to capture the lucrative Middle Eastern travel market as Pakistan International Airlines (PIA), the struggling national carrier, faces financial challenges.
The Pakistani government has been exploring privatization options for PIA, leaving a gap that private airlines such as Fly Jinnah aim to fill.
Ƶ is a key destination for Pakistani travelers, driven by religious pilgrimage to Makkah and Madinah and by a thriving expatriate workforce.
Fly Jinnah’s direct connections offer affordable travel options, positioning the airline as a viable competitor in this high-demand sector.


Pakistan dispatches 19th relief consignment to Syria amid conflicts in Middle East

Pakistan dispatches 19th relief consignment to Syria amid conflicts in Middle East
Updated 17 November 2024

Pakistan dispatches 19th relief consignment to Syria amid conflicts in Middle East

Pakistan dispatches 19th relief consignment to Syria amid conflicts in Middle East
  • Pakistan says it will continue to support people affected by Israel’s military campaign in the region
  • Since the beginning of the war in Gaza, Pakistan has called for a ceasefire at the UN, other forums

ISLAMABAD: Pakistan’s National Disaster Management Authority (NDMA) dispatched its 19th relief consignment on Sunday to help war-affected people in Syria and refugees from Lebanon, according to an official statement, reaffirming the country’s commitment to supporting those impacted by ongoing conflicts in the Middle East.
The aid shipment, sent in collaboration with the Pakistani charity Al-Khidmat Foundation, consisted of 17 tons of humanitarian supplies, including buckets, powdered milk, tinned food, family packs, sleeping bags and medical kits.
The consignment departed via a chartered flight from Jinnah International Airport in Karachi to Damascus in Syria.
“This 19th consignment has been dispatched for the people of Syria and refugees from Lebanon,” the NDMA said in its statement. “Prior to this, the Government of Pakistan has sent 12 aid consignments to Palestine and six shipments to Lebanon, with a total volume of 1,722 tons.”
The statement reaffirmed Pakistan’s commitment to supporting the people of Palestine and Lebanon who are in distress due to Israel’s military campaigns in the region.
It also emphasized the importance of collaboration by welfare organizations and the Pakistani public in strengthening the government’s efforts to assist those in need.
Pakistan has already established a special fund titled the “Prime Minister’s Relief Fund for Gaza and Lebanon,” inviting public donations.
Since the beginning of the war in October last year, Pakistan has called for a ceasefire in Gaza and has raised the issue at the United Nations, the Organization of Islamic Cooperation (OIC) and other international forums, urging an end to Israeli military actions and a resolution to the humanitarian crisis.