Pakistan to sign agreements worth over $2 billion with Saudis later this week — PM

Pakistan to sign agreements worth over $2 billion with Saudis later this week — PM
Pakistan Prime Minister Shehbaz Sharif is addressing the nation in Islamabad, Pakistan on June 15, 2024. (APP/File)
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Updated 08 October 2024
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Pakistan to sign agreements worth over $2 billion with Saudis later this week — PM

Pakistan to sign agreements worth over $2 billion with Saudis later this week — PM
  • Saudi Arabia’s investment minister is scheduled to visit Pakistan from Oct. 9-11 with high-level delegation 
  • PM Shehbaz Sharif vows government will not let opposition “sabotage” Pakistan’s economic progress 

ISLAMABAD: Pakistan will sign agreements worth over $2 billion with an incoming delegation from Saudi Arabia later this week, Prime Minister Shehbaz Sharif said on Tuesday, vowing that his government will not let the opposition derail the country from its path to economic progress. 

Saudi Arabia’s Investment Minister Khalid bin Abdulaziz Al-Falih is scheduled to visit Pakistan with a high-level delegation from Oct. 9-11, Pakistan’s foreign office confirmed on Monday. The Saudi delegation will arrive in Islamabad ahead of the Shanghai Cooperation Organization (SCO) summit scheduled to be held in the capital from Oct. 15-16. Pakistan’s foreign office said the Saudi delegation’s visit is aimed at boosting economic cooperation between the two countries. 

Addressing his cabinet members, Sharif took aim at former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party, saying that its protests last week were aimed at hurting the country’s current economic gains. 

“And now that a Saudi delegation is coming and we are to sign agreements or MoUs worth more than $2 billion with them, to sabotage all these efforts is the biggest enmity against Pakistan,” the prime minister said during his televised address. 

“We will not allow this, we will not tolerate this and under no circumstances this will be allowed. Under any rate, under any cost,” he added. 

Pakistan and Saudi Arabia have been closely working in recent months to increase bilateral trade and investment deals, with Crown Prince Mohammed bin Salman reaffirming the Kingdom’s commitment to expedite an investment package of $5 billion to the South Asian country earlier this year.

Pakistan has been eyeing closer cooperation in trade, defense, energy and other sectors of the economy with regional allies as it seeks to escape a prolonged economic crisis that has drained its foreign exchange reserves and weakened its currency. 

The South Asian country formed the Special Investment Facilitation Council (SIFC), a hybrid civil-military body, last year to fast-track decisions related to investment. The SIFC seeks to attract foreign investment, particularly from Gulf countries, for its viral economic sectors. 

‘UNBREACHABLE SECURITY’

The Pakistani prime minister also spoke about the Karachi blast on Sunday night that killed three people, including two Chinese nationals. The separatist Balochistan Liberation Army (BLA), which routinely targets Chinese interests in Pakistan, had claimed responsibility for the incident.

Sharif said when a suicide bomber killed five Chinese engineers working on a hydropower project in Pakistan during March this year, the Chinese government sent Pakistan a “concerning” message, asking Islamabad to strengthen security measures for its citizens. 

The Pakistani prime minister said he had informed Chinese officials that Pakistan regretted the incident and was embarrassed by it. 

“But this does not mean that we will let go of matters. Our spirits are higher than they were before,” Sharif said. “And we will not spare any effort in strengthening these matters and to make security unbreachable [for Chinese nationals],” he added. 

The Pakistani prime minister said he had informed China’s ambassador in Islamabad regarding the security measures being taken by Pakistan ahead of the SCO summit. 

China is a major ally and investor in Pakistan, having pledged over $65 billion in road, infrastructure and development projects in Pakistan under the China-Pakistan Economic Corridor (CPEC), a part of Beijing’s Belt and Road Initiative, that aims to connect China to the Arabian Sea and help Islamabad expand and modernize its economy.


KP governor convenes All Parties Conference today as Pakistan sectarian clashes kill over 130

KP governor convenes All Parties Conference today as Pakistan sectarian clashes kill over 130
Updated 40 sec ago
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KP governor convenes All Parties Conference today as Pakistan sectarian clashes kill over 130

KP governor convenes All Parties Conference today as Pakistan sectarian clashes kill over 130
  • Khyber Pakhtunkhwa ruling party PTI to boycott APC, alleges meeting being held to form narrative against it
  • At least 133 have been killed and 177 injured in sporadic sectarian clashes since Nov. 21 in Kurram district

ISLAMABAD: Khyber Pakhtunkhwa Governor Faisal Karim Kundi will convene an All-Parties Conference (APC) today, Thursday, in hopes of resolving the tense situation in Kurram district, where sectarian clashes that started last month have killed over 130 people.

At least 133 people have been killed and 177 injured in sporadic sectarian clashes since Nov. 21 in the province’s Kurram district. While Pakistan is a Sunni-majority country, Kurram has a large Shiite population where sectarian clashes have taken place for decades. 

The latest fighting broke out last Thursday when two separate convoys of Shiite Muslims traveling under police escort were ambushed, killing more than 40. Since then days of fighting with light and heavy weapons have brought the region to a standstill, with major roads closed and mobile phone services cut as the death toll surged.

The APC will be held at the Governor House with the notable exclusion of the Pakistan Tehreek-e-Insaf (PTI) party, which has decided to boycott the event. The PTI, which is the ruling party in the province, alleges that the meeting has been called to form a narrative against it. 

“This is a significant moment where political leaders from various parties will come together on one platform to pave the way for peace, progress, and unity in Khyber Pakhtunkhwa,” Kundi wrote on social media platform X on Wednesday. 

The KP governor said he had convened the APC as the provincial government had failed to maintain law and order in the province. 

“There is a two-point agenda [for the meeting]: one, for peace and the other, our issues with the federal government regarding natural resources,” Kundi said.

KP government spokesperson Muhammad Ali Saif criticized the governor, saying it was the elected provincial government’s mandate to convene an APC. 

“The governor should take arrears from the center as a representative of the federation instead of calling the APC,” Saif said in a statement. 

Saif said KP Chief Minister Ali Amin Gandapur was discharging his responsibilities in the province admirably, adding that the situation was returning to normal in Kurram due to his measures such as brokering a ceasefire and ensuring medicines reached the people there. 

As sporadic clashes continue, the KP cabinet approved on Monday what it called a “comprehensive action plan” aimed at “restoring durable peace and stability” in Kurram. 

The plan involves a new grand jirga comprising former parliamentarians and senators from tribal districts with representation from both the Sunni and Shiite sects, ex-senator Saleh Shah, a member of the council, said.


Pakistan says work has begun on Saudi investment projects worth ‘billions of dollars’

Pakistan says work has begun on Saudi investment projects worth ‘billions of dollars’
Updated 38 min ago
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Pakistan says work has begun on Saudi investment projects worth ‘billions of dollars’

Pakistan says work has begun on Saudi investment projects worth ‘billions of dollars’
  • Pakistan and Saudi Arabia signed several agreements worth a whopping $2.8 billion in October
  • Pakistan PM met Saudi crown prince at sidelines of One Water Summit in Riyadh this week

ISLAMABAD: Information Minister Ataullah Tarar said this week that work on several Saudi projects worth billions of dollars in Pakistan has already begun, saying that it would help improve the country’s economy and provide job opportunities for many. 

Pakistan and Saudi Arabia signed several memorandums of understanding (MoUs) in October worth $2.8 billion. Sharif’s office said on Monday that seven out of the 34 MoUs signed with Saudi Arabia had been actualized into agreements worth $560 million. 

Tarar was briefing the media about Pakistani Prime Minister Shehbaz Sharif’s visit to Saudi Arabia in which he met Crown Prince Mohammed bin Salman on the sidelines of the One Water Summit in Riyadh. During the visit, Sharif also met French President Emmanuel Macron to discuss investment opportunities in the energy sector and climate adaptation. 

“The evidence of the billions of dollars they [Saudi Arabia] are about to invest in Pakistan, a lot of these projects have started on the ground,” Tarar said at a news conference on Wednesday. 

“Like you saw Aramco has opened its [fuel] pumps here in Pakistan and did a grand inauguration. Discussions are also ongoing about their fast-food chain, Al-Baik, and other major projects are being discussed as well,” he added. 

Tarar said Sharif’s visit to Saudi Arabia was a short but significant one, noting that it featured the fifth meeting between the Pakistani premier and the Saudi crown prince in the last six months. 

“In such a short period, I believe Pak-Saudi relations have improved a lot and ties have strengthened a lot,” he said. 

Sharif’s government has sought closer economic cooperation between both countries since assuming the office of the prime minister this year. He has publicly stated several times his desire for Pakistan to collaborate with the Kingdom in several areas such as trade, defense, economy, agriculture, tourism and others. 

Saudi Arabia has bailed Pakistan frequently out of its economic crisis in the past and provided oil to the South Asian country on deferred payments. 

In April, the Kingdom pledged to expedite a $5 billion investment portfolio for Islamabad, further brightening foreign investment prospects in the country. 

It also serves as the largest source of workers’ remittances for Pakistan, where over two million Pakistanis live and work. 


Pakistan eye whitewash against Zimbabwe in third T20I today

Pakistan eye whitewash against Zimbabwe in third T20I today
Updated 57 min ago
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Pakistan eye whitewash against Zimbabwe in third T20I today

Pakistan eye whitewash against Zimbabwe in third T20I today
  • Pakistan beat Zimbabwe by 10 wickets on Tuesday to register 10-wicket victory in second T20I
  • Spinner Sufiyan Muqeem returned figures of 5-3, the best by a Pakistani bowler in T20I format

ISLAMABAD: After securing a commanding victory over Zimbabwe in the second T20I this week, Pakistan will face Zimbabwe in the third T20I of the series at Bulawayo as it eyes completing a 3-0 whitewash over the hosts. 

Pakistan beat Zimbabwe by 10 wickets on Tuesday as spinner Sufiyan Muqeem registered the best figures by a Pakistan bowler in T20I, returning figures of 5-3. 

Set to chase a paltry 58, Pakistan chased the target with 14.3 overs to spare, marking the biggest win by balls remaining between two Full Members in men’s T20I cricket.

The Pakistan Cricket Board (PCB) on Wednesday announced its playing Xi for the third T20I against Zimbabwe. 

“Pakistan playing XI for 3rd T20I against Zimbabwe,” the PCB wrote on social media platform X. 

The playing XI features openers Omair Bin Yousuf and Sahibzada Farhan as well as middle-order batters Usman Khan, Salman Ali Agha (captain), Tayyab Tahir, Qasim Akram, Arafat Minhas and all-rounders Jahandad Khan and Abbas Afridi. 

Pakistan have featured Mohammad Hasnain and Sufyan Muqeem as featured bowlers. The match has been scheduled for 4:30 p.m. today.


Pakistani experts stress transforming Pak-Saudi ties into stronger economic partnership

Pakistani experts stress transforming Pak-Saudi ties into stronger economic partnership
Updated 05 December 2024
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Pakistani experts stress transforming Pak-Saudi ties into stronger economic partnership

Pakistani experts stress transforming Pak-Saudi ties into stronger economic partnership
  • Pakistan PM met Saudi crown prince this week in Riyadh for fifth time in six months to discuss bilateral trade, investment
  • Pakistani mission in Riyadh says IT exports to Kingdom increased from $31.67 million in FY23 to $47.09 million in FY 2024

ISLAMABAD: Pakistani business leaders, experts and officials this week hailed Islamabad’s growing economic partnership with Saudi Arabia, saying it was high time the two countries transformed their close ties into a robust and mutually rewarding economic partnership. 

Prime Minister Shehbaz Sharif on Wednesday concluded a two-day visit to Saudi Arabia where he met Saudi Crown Prince Mohammed bin Salman on the sidelines of the One Water Summit in Riyadh. During the visit, Sharif met the crown prince for the fifth time in six months, during which both sides agreed to bring about a qualitative change in bilateral ties and expressed satisfaction over the pace of implementation of $2.8 billion agreements signed between the two countries. 

Pakistan has pushed in recent months to strengthen trade and investment ties with friendly nations, particularly the Kingdom, which has promised a $5 billion investment package that cash-strapped Islamabad desperately needs to shore up foreign reserves and fight a chronic balance of payment crisis.

The Prime Minister’s Office (PMO) said in a statement this week that seven out of 34 MoUs valued at $2.8 billion and signed earlier this year with Saudi Arabia have been converted into agreements worth $560 million.

“This is high time to transform the Pakistan-Saudi relationship into a stronger economic partnership, especially following the recent increase in high-level leadership contacts and exchanges of business delegations,” Fahad Barlas, chairman of the Pakistan Association of Exhibition Industry, told Arab News on Wednesday. 

Barlas organized the second Pakistan Investment Summit in Jeddah on Nov. 30 under the Pakistan Association of Exhibition Industry. The event featured 31 Pakistani companies from various sectors and was attended by prominent traders, investors, and community figures.

“We brought together 31 Pakistani companies, all of which received promising leads, with around 20 of them expected to convert into tangible collaborations and deals worth over $25 million,” he disclosed.

He said five MoUs were signed at the event, adding that the major companies that signed deals included real estate developers such as Exotica, ParkView City, and the Defense Housing Authority. 

Pakistan and Saudi Arabia’s growing closeness and business ties have translated into higher trade between the two countries. 
“In FY 2024, Pakistan’s trade volume with Saudi Arabia reached $5203.19 million marking an increase from $5010.47 million in FY 2023,” the Pakistani mission in Riyadh told Arab News.

It said that from July to October during the current financial year, Pakistan’s trade volume with Saudi Arabia has already reached $1,577.85 million. Meanwhile, Pakistan’s total exports to Saudi Arabia were recorded at $710.29 million for FY 2024, up from $503.85 million in FY 2023.

“Pakistan’s exports to Saudi Arabia for the period from July to October current FY 2025 amounted to $245.56 million, compared to $214.98 million during the same period in FY 2024, reflecting a notable increase,” the embassy added.

The mission said Pakistan’s IT exports registered a “significant growth” of over 48 percent in FY24, increasing from $31.67 million in FY 2023 to $47.09 million. Pakistan’s services exports to the Kingdom increased by 20 percent, rising from $346.88 million in FY 2023 to $417.94 million in FY 2024. 

“Pakistan’s services exports to Saudi Arabia for the period from July to October FY 2025 reached $151.21 million, compared to $132.54 million during the same period in FY 2024, reflecting a growth in exports,” it added. 

The mission said Pakistan’s main exports to Saudi Arabia included cereals, meat and beef, textiles, knitted garments, cotton fabrics, beverages, spices, fruits and vegetables, fish and fish products, light engineering goods, leather products, towels and organic chemicals.

KINGDOM ‘MAJOR INVESTOR’ IN PAKISTAN

Khaqan Najeeb, former adviser to the finance ministry, said Pakistan’s relationship with Saudi Arabia was now emerging in investment and trade, particularly focused on science, technology, IT, mining sector and agriculture areas. 

“It would be important to say that at the time when Pakistan needed the required gross external financing needs to be fulfilled, Saudi Arabia was a key player to ensure its deposits in Pakistan,” he told Arab News.

Najeeb said it was good to see agreements worth $560 million signed with Saudi Arabia were now being implemented, signaling a positive progress in bilateral business relations.

“The recent interaction will boost the confidence of the Saudi government and hope to see the crown prince visiting Pakistan to conclude some of the ongoing talks around the mines and mineral sector in Pakistan,” he said. 

Javed Hafeez, a former Pakistani diplomat, said the impact of the increased Pakistan-Saudi Arabia leadership-level contacts on investment and trade would be “positive.”

“The Kingdom of Saudi Arabia is a major investor in Special Investment Facilitation Center (SIFC) and its related projects, especially in agriculture and in mining,” he told Arab News.

Pakistan formed the Special Investment Facilitation Council (SIFC), a hybrid civil and military body, in 2023 to fast-track decisions related to foreign investment in its key economic sectors such as agriculture, mining, minerals, tourism and others.

He said that the five meetings between Sharif and the Saudi crown prince in six months highlighted both sides’ mutual desire for frequent consultations, especially as the region undergoes turbulence.

“In terms of peace and security, Saudi Arabia and Pakistan, as close allies, regularly consult each other at key junctures, given their shared responsibility for peace in the Middle East,” Hafeez said.


TV dramas crown YouTube’s Pakistan Top Videos of 2024 list

TV dramas crown YouTube’s Pakistan Top Videos of 2024 list
Updated 05 December 2024
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TV dramas crown YouTube’s Pakistan Top Videos of 2024 list

TV dramas crown YouTube’s Pakistan Top Videos of 2024 list
  • Local dramas “Ishq Murshid,” “Jaan Nisar,” and “Kabhi Main Kabhi Tum” hold the top three spots
  • Year 2024 saw 25 percent increase in number of Pakistani creators earning over $36,000 annually

KARACHI: Local TV dramas “Ishq Murshid,” “Jaan Nisar,” and “Kabhi Main Kabhi Tum” bagged the top three spots as YouTube announced its End-of-Year List 2024 this week, celebrating the platform’s most popular videos for Pakistan.

This year’s list spans three categories, Top Trending Videos, Top Music Videos, and Top Creators. In 2024, YouTube said it witnessed significant growth in Pakistan, with total hours of content uploaded by local creators surging by 60 percent. The platform has also empowered creators to grow a business, with a 25 percent increase in the number of creators earning over Rs10 million ($36,000) annually this year. 

The trends of 2024 paint a vivid picture of Pakistan’s video preferences, with entertainment reigning supreme and dramas and action-packed films topping the Top Trending Videos list.

“Captivating local dramas like Ishq Murshid, Jaan Nisar, and Kabhi Main Kabhi Tum hold the top three spots, reaffirming Pakistan’s enduring love for compelling storytelling,” Google, which owns YouTube, said in a statement. 

The allure of action-packed cinema was also evident in the popularity of South Indian action films like Tiger Nageswara Rao and Ram Pothineni’s SKANDA while the Top Music Videos category featured a mix of global sensations and renowned local artists.

“This year’s top three songs, a Punjabi hit, a Bollywood blockbuster, and a soulful Pakistani ballad, highlight the diverse range of musical tastes that unite people across borders,” Google said.

“These tracks not only topped the charts but also captured hearts and minds, proving that music knows no language.”

The Top Creators list includes channels such as Rajab’s Family, Anaya Eeshal Family, Arshad Reels, and Dr. Imtiaz Ahmad, covering everything from daily family vlogging to lifestyle, food, health care and educational content. 

“Pakistani creators are captivating the world. With over 65 percent of watch time on Pakistani content coming from viewers outside the country, these creators are showing their ability to speak to a global audience,” Farhan Qureshi, Google’s Country Director for Pakistan, said. 

“Looking ahead, we’re excited about the possibilities of AI to take their content creation to the next level, and build stronger connections with viewers. With their talent and passion, I’m looking forward to the future of digital entertainment shaped by our creators.”

This year, YouTube has released three lists for Pakistan:

Top Trending Videos 

1. Ishq Murshid — Episode 20
2. Jaan Nisar Episode 01 
3. Kabhi Main Kabhi Tum — Episode 01 | Fahad Mustafa | Hania Aamir
4. Tiger Nageswara Rao | Ravi Teja, Anupam Kher, Nupur S
5. Akhara — Episode 01 | Feroze Khan
6. Abdullahpur Ka Devdas — Episode 01 | Bilal Abbas Khan, Sarah Khan, Raza Talish 
7. Ram Pothineni’s — SKANDA | Sreeleela
8. चलती कार में खुनी आत्मा के बीच फसा दया — Best Of CID 
9. Mehrunisa V Lub U — Full Movie | Sana Shoaib Malik | Danish Taimoor | Javed Sheikh | Saqib Sameer
10. Rajab Butt Se Larai Ho Gai | Muneeb Ko Rescue Kar Liya | Face To Face With Rajab’s Family

Top Music Videos

1. 90 — 90 Nabbe Nabbe 
2. Aaj Ki Raat
3. BALO BATIYAN
4. Tauba Tauba 
5. Teri Baaton Mein Aisa Uljha Jiya 
6. Ve Haaniyaan 
7. Tu Jo Mileya
8. LEHNGA
9. Dhola Sanu Chorya Haai Kachi Sharab Wango
10. Shubh — King Shit

Top Creators

1. Rajab’s Family
2. Anaya Eshaal Family
3. Arshad Reels
4. UR · Cristiano
5. Ducky Bhai
6. Sistrology
7. Chota Ali vlogs
8. Dr. Imtiaz Ahmad
9. Shirazi village vlogs
10. Fatima Faisal