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PM Shehbaz Sharif likely to visit Saudi Arabia this week

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ISLAMABAD: Prime Minister Shehbaz Sharif is expected to travel to Saudi Arabia on a three-day official visit this week, citing sources ARY News reported on Tuesday.

Sources privy to the development told ARY News that the prime minister will leave for Saudi Arabia on April 28 (Sunday), his second visit to the Kingdom since assuming the top office.

Sharif last traveled to Saudi Arabia during his second term as PM at the start of the ongoing month.

وزیراعظم کے دورے کے بعد سعودی ولی عہد محمد بن سلمان کا دورہ پاکستان بھی متوقع #ARYNews pic.twitter.com/ucEJihYHAL — ARY NEWS (@ARYNEWSOFFICIAL) April 23, 2024

During his visit, Prime Minister Sharif met with Crown Prince and Prime Minister of KSA Mohammed Bin Salman Bin Abdulaziz Al Saud and discussed further fortifying of the fraternal relations between the two brotherly nations and exploring avenues for enhanced collaboration across various sectors.

The prime minister had also performed Umrah and offered Nawafil inside Ka’aba as he was granted access inside ‘Baitullah’, as a special gesture.

Sources said that the premier, during his upcoming visit, will hold meetings with Saudi crown prince and other officials.

After PM Shehbaz Sharif’s visit, Saudi Crown Prince Mohammed bin Salman will also travel to Pakistan, they say.

The visit’s news come days after the Saudi Foreign Minister Prince Faisal bin Farhan Al Saud visited Pakistan to discuss investment projects.

During his visit, PM Shehbaz expressed his deep appreciation for the leadership of the Kingdom of Saudi Arabia and conveyed his sincerest wishes to the Custodian of the Two Holy Mosques His Majesty King Salman bin Abdul Aziz Al Saud and His Royal Highness Crown Prince Mohammed bin Salman bin Abdul Aziz Al Saud.

The prime minister informed the delegation about the Special Investment Facilitation Council (SIFC) and its initiatives to promote investment in Pakistan. He also highlighted the key role of Chief of the Army Staff General Syed Asim Munir and the cooperation of all institutions for the promotion of investment in the country through SIFC.

The Saudi Foreign Minister expressed gratitude for the warm welcome accorded to his delegation and highlighted that Saudi Arabia attached high importance to its strong and close ties with Pakistan. The Foreign Minister also conveyed the Kingdom’s commitment to an enhanced strategic and economic partnership with Pakistan.

It is pertinent to mention here that  Prime Minister Sharif recently announced that he would personally monitor the Saudi investment projects.

Will the PML-N led govt be able to steer Pakistan out of economic crisis?

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Pakistani Prime Minister Khan visits Saudi Arabia to reset ties

Imran Khan’s visit to Riyadh is a significant move to rebuild relations between the historic allies following recent setbacks, say analysts.

Pakistan’s Prime Minister Imran Khan has started a three-day visit to Saudi Arabia in an effort to reset relations after tensions between the longtime allies in recent years.

Khan’s arrival in Riyadh on Friday after an invitation from Saudi Crown Prince Mohammed bin Salman holds much significance, analysts say. While Pakistan and Saudi Arabia have historically been close allies, their strong ties have suffered several setbacks.

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“PM Khan’s visit to Saudi Arabia this week … is an attempt to reset relations to their former, very close level,” said Madiha Afzal, a fellow at the foreign policy programme of Brookings Institution.

The two countries remain important geostrategic partners and a stable relationship between Islamabad and Riyadh is expected to continue.

Significant visit

Pointing to the importance of Khan’s visit, Pakistan’s army chief General Qamar Javed Bajwa arrived in Saudi Arabia on Tuesday ahead of the prime minister’s arrival.

Bajwa was received by Pakistan’s ambassador to Saudi Arabia Bilal Akbar and Saudi military officials in preparation for Khan’s trip.

“Bajwa, like all Pakistani army chiefs, calls the shots on foreign policy, and his own visit was clearly meant to convey a Pakistani seriousness of purpose in advance of Khan’s arrival,” said Michael Kugelman, a senior associate for South Asia at the Wilson Center think-tank.

While most observers expect discussions during the visit to focus on economic engagement – including work opportunities for Pakistani expatriates in Saudi Arabia and Saudi investment in Pakistan – Riyadh will also try to strengthen political ties with Pakistan.

“Given the Biden administration’s tough stance towards Saudi Arabia, Riyadh cannot afford to cut off any allies at the moment- be they big or small in significance,” said Arhama Siddiqa, a research fellow at the Institute of Strategic Studies Islamabad.

The visit represents “each side’s attempt to further a sustainable and mutually beneficial partnership”, Siddiqa told Al Jazeera.

Kugelman said while a core goal for Islamabad will be to regain financial assistance from Riyadh: “The purpose of Khan’s visit, for both countries is simple. To be able to say that the partnership is back on level ground.”

Recent setbacks

In recent years, the relationship between Pakistan and Saudi Arabia after decades of close economic, military and political cooperation suffered several fractures.

In August last year, Pakistan accused the Organisation of Islamic Cooperation (OIC), a bloc of 57 Muslim-majority countries led by Saudi Arabia – of inaction over New Delhi’s decision to strip Indian-administered Kashmir of its special status in 2019.

With Kashmir being a key policy issue for Pakistan, Khan threatened to hold a rival meeting that would bypass the OIC – a move perceived as a challenge to Saudi Arabia’s leadership role in the Muslim world.

Riyadh responded by withdrawing $1bn of a $3bn interest-free loan it extended to Pakistan in 2018, at a time when the South Asian nation was suffering dire economic conditions.

Although the issue was patched up within days, the diplomatic spat threatened to derail the Islamabad-Riyadh alliance.

Prior to that, tensions were high over Pakistan’s refusal to send its troops to fight in the Saudi-led coalition’s war against Iran-aligned Houthi rebels in Yemen in 2015.

Despite the countries enjoying strong military ties, with Pakistan regularly providing troops and military training to Saudi Arabia, Pakistan chose to remain neutral in Yemen’s war.

‘Dragged into Saudi wars’

Commenting on Pakistan’s stance, Kugelman told Al Jazeera: “Not only does Pakistan not want to be dragged into Saudi wars, it also doesn’t want to get dragged into the Saudi Arabia-Iran rivalry.”

Relations continued to worsen when Pakistan also chose to be neutral as the Qatar-Gulf crisis erupted in 2017.

In 2019, Khan also announced he would attend a summit in Malaysia that Saudi Arabia was not invited to, which its rivals – Iran, Turkey and Qatar – were set to attend. Pakistan only withdrew from the summit after Khan visited the kingdom days ahead of the meeting.

These rifts have allowed Pakistan’s archrival India to gain somewhat of a foothold in the Gulf region, as it strengthens ties not only with Saudi Arabia but the United Arab Emirates as well.

In recent years, Saudi Arabia has invested heavily in Indian infrastructure and oil projects, while India has also amplified its cooperation in counterterrorism efforts with Gulf nations.

Historic allies

Despite this, strong Saudi-Pakistan ties are essential for both sides, say analysts.

“Pakistan-Saudi relations are synonymous to a marriage where divorce is not possible. Each side needs the other,” Siddiqa told Al Jazeera. “For Pakistan, on the forefront is the Pakistani diaspora and the need for foreign direct investment.”

With more than 2.5 million Pakistani expatriates in Saudi Arabia, their remittances constitute a significant portion of foreign reserves for the country.

Furthermore, the two countries have a strong trade relationship, which totalled more than $1.7bn in 2019. About 74 percent of that consisted of Pakistani oil imports from Saudi Arabia.

“For Saudi Arabia, Pakistan is a source of oil exports [especially] in light of the China-Iran deal ,” said Siddiqa, referring to a deal signed in March that is expected to see China buying Iranian oil and investing in Iran in defiance of American sanctions.

Pakistan is therefore, a strategic partner for Saudi Arabia, making it unlikely that India can fill its place.

“If they [Saudi Arabia] push Pakistan away it will be to their own detriment,” Siddiqa said.

Kugelman agreed: “For Pakistan, Saudi Arabia continues to be a key economic partner and strategic player,” he said referring to expatriate workers and their remittances.

“Saudi Arabia sees Pakistan as a geopolitically significant country because of its location, as it borders both Iran, Riyadh’s rival, and India – an increasingly close friend.”

While Khan’s visit sets the stage for a reset in Pakistan-Saudi ties and a new normal “characterised by relatively stable relations”, said Kugelman, the relationship is unlikely to return to the way it was before.

Echoing similar sentiments, Afzal told Al Jazeera: “Saudi Arabia has shown that it is unwilling to ‘do more’ on Kashmir due likely in large part to its close and growing economic relationship with India.

“This week’s visit will likely be a public attempt to recover from that rupture and to show solidarity with Pakistan having accepted the fact that it cannot expect the kingdom to act on Kashmir.”

Pakistan PM Sharif to Meet Saudi Crown Prince on Riyadh Visit

Pakistan's Prime Minister Shehbaz Sharif, addresses the 23rd Shanghai Cooperation Organization (SCO) Summit, hosted virtually by India, in Islamabad, Pakistan July 4, 2023. Press Information Department (PID)/Handout via REUTERS/ File photo

ISLAMABAD (Reuters) -Pakistan Prime Minister Shehbaz Sharif will meet the Saudi crown prince during a two-day visit to Riyadh that starts on Saturday, the foreign ministry said.

The visit will be Sharif's first foreign trip since forming a coalition government in February. The two are longtime allies, with the South Asian nation often turning to Riyadh for financial help during its balance of payment crises.

Since it averted a sovereign debt default last summer by securing a $3-billion IMF bailout, Pakistan has been in dire need of financial support from the multilateral lender and friendly countries.

War in Israel and Gaza

Sharif will discuss issues of mutual interest during the meeting with Crown Prince Mohammad bin Salman bin Abdulaziz, the ministry said in a statement on Friday.

In addition to financial support, Pakistan has lately been trying to secure Saudi investment in industries ranging from agriculture to mines, minerals and aviation.

Islamabad says Saudi Arabia has shown interest in acquiring government stakes in Pakistan's Reko Diq gold and copper mine, which could be a major deal for the $350-billion economy.

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Barrick Gold Corp owns a half share in the mine, which is considered one of the world's largest underdeveloped copper-gold areas.

(Reporting by Asif Shahzad; Editing by Christina Fincher and Clarence Fernandez)

Copyright 2024 Thomson Reuters .

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• Pakistan " data-color="d85229"> Pakistan doubles down on completing Iran gas pipeline despite threat of sanctions
• Pakistan " data-color="d85229"> Pakistan refiners, fuel station owners oppose price deregulation, fear business closures
• Pakistan " data-color="d85229"> Pakistan women’s great Bismah Maroof retires from international cricket
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• Pakistan " data-color="d85229"> PM, president vow to end malaria, leading cause of illness and death in Pakistan
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Pakistani pm to visit riyadh tomorrow, expected to meet saudi crown prince.

https://arab.news/m86v9

• Sharif last traveled to Saudi Arabia during his first term as prime minister in October 2022
• Sharif met crown prince during the visit, attended Saudi Future Investment Initiative Summit

ISLAMABAD: The Pakistani foreign office said on Friday Prime Minister Shehbaz Sharif would travel to Saudi Arabia from April 6-8 on the premier’s first foreign visit since his election and was expected to meet Crown Prince Mohammed bin Salman during the trip.

Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as the top destination for remittances to the cash-strapped South Asian country.

“The Prime Minister is expected to meet the Crown Prince and Prime Minister HRH Mohammad bin Salman bin Abdulaziz and discuss issues of mutual interest,” the foreign office said in a statement announcing the PM’s visit. “The leaders will also exchange views on regional and global developments.”

Sharif will be accompanied by the ministers of finance, economic affairs, defense and information. He will perform Umrah and offer prayers at the Masjid Nabwi Al-Sharif in Madinah.

“The leadership of both countries is committed to advancing the fraternal ties and mutually rewarding economic and investment relations,” the foreign office said. 

The Saudi government has not yet commented on the visit or its agenda. 

Sharif last traveled to Saudi Arabia during his first term as PM in October 2022. He met the crown prince during the visit and also attended the Saudi Future Investment Initiative Summit. 

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Pakistan doubles down on completing iran gas pipeline despite threat of sanctions.

• Major gas pipeline deal has faced delays due to geopolitical issues and international sanctions
• On Wednesday, US warned that countries doing business with Iran faced the “potential risk of sanctions”

ISLAMABAD: Defense Minister Khawaja Asif said on Thursday Pakistan would find a way to complete a major gas pipeline deal with Iran which has faced delays for years due to geopolitical issues and international sanctions.

During a visit by Iranian President Ebrahim Raisi to Pakistan this week, the two nations reiterated the importance of cooperation in the energy domain, including trade in electricity, power transmission lines and the IP Gas Pipeline Project, a joint statement released following the culmination of the visit said.

“We will find a way to complete it,” Asif told reporters when asked if Pakistani officials had discussed the stalled pipeline with Raisi. 

In March, Islamabad said it would seek a US sanctions waiver for the pipeline. However, later that week, the US said publicly it did not support the project and cautioned about the risk of sanctions in doing business with Tehran.

On Wednesday, the United States once again warned that countries doing business with Iran faced the “potential risk of sanctions.”

“Just let me say broadly, we advise anyone considering business deals with Iran to be aware of the potential risk of sanctions,” a State Department spokesperson said when asked about the Iranian president’s Pakistan visit and agreements signed. “But ultimately, the government of Pakistan can speak to their own foreign policy pursuits.”

The pipeline deal, signed in 2010, envisaged the supply of 750 million to a billion cubic feet per day of natural gas for 25 years from Iran’s South Pars gas field to Pakistan to meet Pakistan’s rising energy needs. The pipeline was to stretch over 1,900 kilometers (1,180 miles) — 1,150 km within Iran and 781 km within Pakistan.

Tehran says it has already invested $2 billion to construct the pipeline on its side of the border, making it ready to export. Pakistan, however, did not begin construction and shortly after the deal said the project was off the table for the time being, citing international sanctions on Iran as the reason.

Iran’s oil minister at the time responded by saying that Iran carried out its commitments and expects Pakistan to honor its own, adding that Pakistan needs to pick up the pace of work.

In 2014, Pakistan asked for a 10-year extension to build the pipeline, which expires in September this year. Iran can take Pakistan to international court and fine the country. Local media reported that Pakistan can be fined up to $18 billion for not holding up its half of the agreement.

Faced with a potential fine, Pakistan’s caretaker administration earlier this year gave the go ahead in principle to commence plans to build an 80 km segment of the pipeline. In March, Pakistan announced it would seek a sanctions’ waiver. 

Washington’s support is crucial for Pakistan as the country looks to sign a new longer term bailout program with the International Monetary Fund (IMF) in coming weeks.

Pakistan, whose domestic and industrial users rely on natural gas for heating and energy needs, is in dire need for cheap gas with its own reserves dwindling fast and LNG deals making supplies expensive amidst already high inflation.

Iran has the world’s second-largest gas reserves after Russia, according to BP’s Statistical Review of World Energy, but sanctions by the West, political turmoil and construction delays have slowed its development as an exporter.

Originally, the deal also involved extending the pipeline to India, but Delhi later dropped out of the project.

With inputs from Reuters

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Pakistan refiners, fuel station owners oppose price deregulation, fear business closures.

• Petroleum dealers say government wants to avoid public criticism and shift the burden of high oil prices to consumers
• Oil refineries also opposed deregulation earlier this week, saying it would put their $6 billion investment at risk

KARACHI: After Pakistan’s oil refineries, petroleum dealers announced their decision to oppose the deregulation of fuel prices in the country on Thursday, saying the move would adversely impact their businesses and lead to their closure. The Oil and Gas Regulatory Authority (OGRA) of Pakistan briefed the energy ministry on the possible deregulation of petroleum products on April 17, prompting five of the country’s oil refineries to write a letter in which they described it as complex and critical issue. The deregulation proposal would empower oil marketing companies to determine fuel prices on the basis of various market forces. Local consumers getting petrol and diesel from places closer to ports and refineries would get relatively cheaper products due to the transportation cost. “The deregulation is the death warrant for the people and the petroleum industry in the country,” Abdul Sami Khan, Chairman of Pakistan Petroleum Association, said at a media briefing along with other dealers at the Karachi Press Club. “If this is imposed on us, we will be compelled to shut down our businesses.” The dealers present at the briefing said the deregulation would cause an increase in the prices of petroleum products and make it difficult to maintain the quality of the fuel. They said giving mandate to oil marketing companies to determine oil prices would be unwise and lead to different market rates. “The government wants to shift the burden of price hike to people and get rid of the public criticism amid spiraling rates of petroleum products,” Khan added. He said the smuggled Iranian oil had been openly sold in Pakistan, though it was not refined and damaged engines of vehicles. He also asked the government to legalize it “in the larger public interest.” “An agreement should be made to import crude oil from Iran to end smuggling,” Khan suggested. “The crude oil bought from Iran can be refined locally.” Malik Khuda Buksh, senior leader and founding member of the association, said the deregulation would “create chaos in the market” since everyone would be quoting their own prices. “Under the current mechanism, the government fixes the prices and no one can charge a single paisa more,” he explained while speaking to Arab News after the news briefing. “When the deregulation takes place, every oil marketing company will give its own price like vegetable and other product sellers, which will lead to further inflation.” Like refiners, the petroleum dealers also warned that the deregulation of petroleum prices in Pakistan would negatively impact their business. The letter jointly written by Attock Refinery Limited, Cnergyico PK Limited, National Refinery Limited, Pakistan Refinery Limited and Pak Arab Refinery Limited said the deregulation could jeopardize nearly $6 billion of investment. The letter maintained it was better to spend money on upgrading the refineries since it would not only result in cleaner and environment-friendly fuels of Euro-V specifications but would also help save precious foreign exchange by substantially increasing local production.

Pakistan women’s great Bismah Maroof retires from international cricket

• Maroof, an allrounder, batted left-handed and scored 6,262 runs including 33 half-centuries
• Maroof captained Pakistan in 96 internationals, including at fourth World Cup in 2022 

LAHORE: Former Pakistan women’s captain Bismah Maroof retired from international cricket on Thursday after 276 games in an 18-year career. “I have decided to retire from the game I love the most,” the 32-year-old Maroof said in a statement on Thursday. “It has been an incredible journey, filled with challenges, victories, and unforgettable memories.” Maroof, an allrounder, batted left-handed and scored 6,262 runs including 33 half-centuries — three ODI scores in the 90s — and bowled right arm leg break and bagged 80 wickets. She was 15 when she debuted for Pakistan in 2006 in a one-day international against India, and three years later played her first Twenty20 against Ireland. Maroof took a break in 2021 to give birth to her first child and said she was grateful for a parental policy that extended her career. “The support from the PCB has been invaluable, particularly in implementing the first ever parental policy for me, which enabled me to represent my country at the highest level while being a mother,” Maroof said. Maroof captained Pakistan in 96 internationals, including at her fourth Women’s World Cup in 2022 in New Zealand.

PM, president vow to end malaria, leading cause of illness and death in Pakistan

• Over 3.4 million suspected cases of malaria reported in Pakistan between Jan-Aug 2022
• Rapid upsurge observed in Balochistan and Sindh provinces after devastating floods in June 2022

ISLAMABAD: Pakistani top leaders on Thursday called on the government, international partners and organizations, health care professionals, and individuals to unite in their efforts to end malaria, one of the leading causes of illness and death in Pakistan according to the World Health Organization. The Pakistani prime minister and president sent out the message on World Malaria Day, commemorated on April 25 each year to highlight the need for continued investment and sustained political commitment for malaria prevention and control. The day was instituted by WHO Member States during the World Health Assembly of 2007. According to WHO data, from January through August 2022, more than 3.4 million suspected cases of malaria were reported in Pakistan compared with the 2.6 million suspected cases reported in 2021. Over 170 000 cases were laboratory confirmed. A rapid upsurge in cases was observed in Balochistan and Sindh provinces after devastating floods in mid-June 2022, together accounting for 78 percent of all confirmed cases. The risk was assessed by the WHO as very high considering the effect of the flood crisis on the capacity of the national health system. “In his message on the occasion of World Malaria Day, PM emphasized collaborative efforts to strengthen health care systems, increase access to quality diagnosis and treatment, and raise awareness about the importance of prevention and control measures of malaria,” state-run Radio Pakistan said, reporting on Prime Minister Shehbaz Sharif’s message. The PM called on research and academic institutions “to flag scientific advances to both experts and the general public, international partners, companies and foundations to showcase their efforts and reflect on how to further scale up malaria control interventions.” He said Pakistan had significantly enhanced free malaria testing and treatment facilities in malaria-endemic districts across the country through collaboration between the health ministry, national and international partners, provincial counterparts, NGOs and private stakeholders. In a separate message, President Asif Ali Zardari emphasized collective efforts to curb malaria and expressed concerns over the rise in malaria cases due to the 2022 floods. “Zardari called upon the provincial governments and other stakeholders to unite to deal with this alarming situation. He also called for raising awareness about the disease,” Radio Pakistan said. Pakistan was hit by devastating floods in June 2022 which resulted in over 33 million people being affected, 81 districts being declared as calamity-hit and the national health infrastructure being badly impacted. An upsurge in reported malaria cases was observed after the floods. In Sindh province, confirmed malaria cases in August 2022 reached 69,123 compared to 19,826 cases reported in August 2021. In Balochistan province, 41,368 confirmed cases were reported in August 2022 compared to 22,032 confirmed cases in August 2021. These two provinces together accounted for 78 percent of all reported confirmed cases in Pakistan in 2022.  Reports from 62 high-burden districts indicated that additional 210,715 cases were reported in September 2022, compared to 178,657 cases reported in the same districts in August 2022.

Pakistani PM seeks business community’s support to double exports in five years

• Pakistan’s total exports during the current fiscal year, or July-March, stood at $22.93
• Pakistan wants to double exports through focus on textiles, agriculture, mining and IT

KARACHI: Prime Minister Shehbaz Sharif on Wednesday sought support from Pakistan’s business community to double export volume during the next five years of his government’s term. Addressing business leaders in a ceremony held in the southern port city of Karachi, Sharif said the government, in consultation with the business community, would form a comprehensive policy framework to ensure export-led growth and resolve Pakistan’s foreign exchange reserve crisis.  Pakistan’s total exports during the current fiscal year, or July-March, stood at $22.93, which it wants to double through a focus on sectors like textiles, agriculture, mines and minerals and information technology. “You are actually the backbone of the national economy as without your support, the government cannot bring the country out of economic crisis,” the prime minister told the business community, urging it to sit with his government to resolve issues and challenges. “We should get together in the larger national interest. The brilliant minds should together find ways to overcome the challenges and problems hindering the country’s development and prosperity.” Sharif’s meeting with the business leaders came as Pakistan is seeking a new long-term and larger IMF loan, with finance minister Muhammad Aurangzeb saying Islamabad could secure a staff-level agreement on the fresh program by early July. The global lending agency has confirmed its executive board meeting for April 29 to discuss the approval of $1.1 billion funding for the South Asian state, the second and last tranche of a $3 billion standby arrangement with the IMF, which it secured last summer to avert a sovereign default and which runs out this month.

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ISLAMABAD: Prime Minister Shehbaz Sharif is expected to travel to Saudi Arabia on a three-day official visit this week.

The prime minister will leave for Saudi Arabia on April 28 (Sunday), his second visit to the Kingdom since assuming the top office.

Shehbaz Sharif last traveled to Saudi Arabia during his second term as PM at the start of the ongoing month.

During his visit, Prime Minister Sharif met with Crown Prince and Prime Minister of KSA Mohammed Bin Salman Bin Abdulaziz Al Saud and discussed further fortifying of the fraternal relations between the two brotherly nations and exploring avenues for enhanced collaboration across various sectors.

The prime minister had also performed Umrah and offered Nawafil inside Ka’aba as he was granted access inside ‘Baitullah’, as a special gesture.

The premier, during his upcoming visit, will hold meetings with Saudi crown prince and other officials.

After PM Shehbaz Sharif’s visit, Saudi Crown Prince Mohammed bin Salman will also travel to Pakistan.

The visit’s news come days after the Saudi Foreign Minister Prince Faisal bin Farhan Al Saud visited Pakistan to discuss investment projects.

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Pak PM Shehbaz Sharif set to visit Saudi to advance investment talks

Sharif's government has presented returns ranging from an appealing 14% to an astounding 50% on saudi investment, the report said.

Photo: Reuters

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Apr 20 2024 | 1:44 PM IST

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