Saudi investment minister in Pakistan, will sign up to 25 agreements

Special Saudi investment minister in Pakistan, will sign up to 25 agreements
1 / 2
Pakistan Commerce Minister Jam Kamal speaks during the Pak-Saudi Business Forum 2024 in Islamabad on October 10, 2024. (Screengrab/PTV World)
Special Saudi investment minister in Pakistan, will sign up to 25 agreements
2 / 2
Pakistan’s Privatization Minister Abdul Aleem Khan welcomes Saudi Investment Minister Khalid bin Abdulaziz Al-Falih as he arrives with a high level delegation at Nur Khan Airbase in Rawalpindi on October 9, 2024. (Photo courtesy: Privatization Ministry)
Short Url
Updated 10 October 2024

Saudi investment minister in Pakistan, will sign up to 25 agreements

Saudi investment minister in Pakistan, will sign up to 25 agreements
  • Al-Falih is expected finalize $2 billion business proposals while in Pakistan
  • Riyadh this year pledged to expedite $5 billion investment package for Pakistan

ISLAMABAD: A high-level Saudi delegation led by the Kingdom’s Investment Minister Khalid bin Abdulaziz Al-Falih will sign 25 agreements in various fields during its three-day visit to Islamabad, the Pakistani president’s office said on Thursday. 
Al-Falih, whose visit comes ahead of the Shanghai Cooperation Organization (SCO) Summit next week, is in Islamabad from Oct. 9-11 and will take part in a joint investment forum today, Thursday, as Islamabad hopes $2 billion in investment proposals will be finalized during the Saudi dignitary’s visit. 
Al-Falih’s trip comes as Pakistan seeks closer cooperation in trade, defense, 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 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 earlier this year to expedite a $5 billion investment package for the South Asian country.
“The Saudi delegation will sign 25 agreements in various fields,” President Asif Ali Zardari’s office said in a statement. “These agreements will usher in a new era of bilateral economic cooperation.”
The press release added that was planning to invest in Pakistan’s construction, infrastructure, mining, agriculture and information technology sectors. 
“The Saudi minister will have a busy schedule in Pakistan of meetings with representatives of private companies and top government officials of KSA while bilateral trade and investment between Pakistan and , mutual agreements and important Memorandums of Understanding will also be signed,” the Pakistani Prime Minister’s Office said in a statement after the Saudi delegation’s arrival on Wednesday night.
An invitation to the investment forum, which began on Thursday morning, showed it would include speeches by Al-Falih as well as Pakistan’s Petroleum Minister Musadik Malik, Commerce Minister Jam Kamal Khan and Privatization Minister Abdul Aleem Khan.
Aleem Khan on Wednesday called the Saudi visit a “welcome step,” and “an important milestone” for the investment sectors of both nations.
“Private companies of Pakistan are fully ready for investment and bilateral business from ,” the PMO said, quoting Khan. 
During his visit, Al-Falih will meet top Pakistani leaders and interact with the country’s business community.
“The delegation comprises representatives from various sectors, including energy, mining, minerals, agriculture, business, tourism, industry, and manpower,” Radio Pakistan reported. 
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.”


Rescuers in Pakistan scramble to save residents as swollen rivers reach dangerous levels

Rescuers in Pakistan scramble to save residents as swollen rivers reach dangerous levels
Updated 13 sec ago

Rescuers in Pakistan scramble to save residents as swollen rivers reach dangerous levels

Rescuers in Pakistan scramble to save residents as swollen rivers reach dangerous levels
  • Rescuers backed by army raced Wednesday to evacuate thousands from flooded villages near city of Jalalpur Pirwala
  • Stranded villagers complained those who could afford private boats escaped quickly, leaving poor to wait for rescuers

SHER SHAH, Pakistan: Rescuers backed by the military raced Wednesday to evacuate thousands of people from flooded villages near the city of Jalalpur Pirwala in eastern Pakistan, officials said, as authorities struggled to shore up embankments against rising waters which touched the official danger mark.

The rescue operation continued overnight and was ongoing.

The flooding has affected nearly 142,000 people in the area, Relief Commissioner Nabil Javed said. Many displaced residents have moved in with relatives, while others are spending sleepless nights on embankments or in relief camps after their homes were submerged.

On Wednesday, rescue crews in boats were seen crisscrossing the waters, pulling people from trees and rooftops. But many stranded villagers complained that those who could afford private boats escaped quickly, leaving the poor to wait for rescuers.

Since Aug. 23, about 4,000 villages across Punjab have been submerged, affecting more than 4.2 million people, displacing 2.1 million and killing at least 68 after heavier-than-normal monsoon rains and repeated releases of water from overflowing Indian dams, according to the Punjab Disaster Management Authority.

“Those who could pay owners of private boats have already left the village,” said survivor Bilal Ahmed, who spoke from a relief camp. “I paid money to use a private boat to leave my village.” He said food supplies are scarce and displaced families receive only one meal a day.

Residents sit in a rescue boat as they evacuate following monsoon rains and rising water levels in the Chenab River, in Basti Khan Bela, on the outskirts of Jalalpur Pirwala, Punjab province, Pakistan, on September 10, 2025. (REUTERS)

At roadside tents, families waited for food as children cried and women whispered prayers for the waters to recede, hoping for a miracle.

Torrential rains on Wednesday also flooded streets in Karachi, the capital of southern Sindh province. Officials warned that water from swollen rivers will flow into Sindh this week, raising fears of damage downstream.

On Wednesday, bulldozers and heavy machinery were reinforcing embankments around Jalalpur Pirwala in a desperate attempt to protect the city of about 700,000. Authorities said that if the city is breached, hundreds of thousands of lives could be at risk.

Punjab Chief Minister Maryam Nawaz Sharif visited Jalalpur Pirwala and pledged compensation for families who lost relatives, homes and livestock in the floods. In a televised speech, she vowed to “fulfill every promise.”

According to the Pakistan Meteorological Department, the Ravi, Chenab, and Sutlej rivers are all in high flood, with water levels reaching the danger mark. Jalalpur Pirwala lies at the confluence of the Chenab and Sutlej rivers before they flow south toward Sindh province, where evacuations are underway in anticipation of flooding.

Irfan Ali Kathia, director general of the provincial disaster management authority, said he was confident the city would be saved.

“More rescue boats have been dispatched,” he said, but he blamed villagers for ignoring repeated warnings. An Associated Press reporter saw families standing knee-deep in muddy water waiting for rescue boats.

For many of those rescued, the future remains uncertain.

“My wife and children are still trapped in our flooded home,” said Muhammad Arshad, tears in his eyes as he boarded a rescue boat. “When the floods came, I was outside the village. For three days, I waited for a boat. Today is my first chance to see them.”

Saima Hussain, 35, who fled her village by an evacuation boat, recounted a haunting scene from her escape. “I saw rescuers pulling a woman’s body from the water,” she said. “Her baby was still alive, clinging to her chest.”

Holding her own baby, she said she had nothing to feed him.

“For two days, he hasn’t had milk,” she said. “God saved us, but we need help as we are now fighting hunger,” she said. ”I hope for a miracle. We pray for the water to recede,” Hussain said.

Since late June, flooding has killed more than 900 people across Pakistan.


Pakistan, UAE appoint special representatives to step up anti-narcotics cooperation

Pakistan, UAE appoint special representatives to step up anti-narcotics cooperation
Updated 6 min 18 sec ago

Pakistan, UAE appoint special representatives to step up anti-narcotics cooperation

Pakistan, UAE appoint special representatives to step up anti-narcotics cooperation
  • Pakistan cites 400 arrests, five tons of drugs seized in joint operations with UAE
  • UAE last year set up a federal anti-narcotics authority to unify drug control policies

ISLAMABAD: Pakistan and the United Arab Emirates have appointed special representatives to coordinate anti-narcotics efforts and bolster intelligence sharing and joint operations against drug trafficking networks, the interior ministry in Islamabad said on Thursday. 

The decision was announced after talks in Islamabad between Pakistan’s Interior Minister Mohsin Naqvi and Sheikh Zayed bin Hamad bin Hamdan Al Nahyan, chairman of the UAE’s National Anti-Narcotics Authority. 

The move ties into broader regional efforts, following April’s Pakistan-hosted Pak-GCC Anti-Narcotics Conference, where Gulf states agreed to deepen cooperation against the smuggling of heroin, synthetic drugs and precursors across the region.

“For strengthening anti-narcotics cooperation, Pakistan appointed DG ANF Major General Abdul Mueed, while the UAE appointed Brig. Tahir Gharib as special representative,” a statement from the Pakistani interior ministry said.

Naqvi welcomed the establishment of the UAE’s federal anti-narcotics body and congratulated Sheikh Zayed on becoming its first chairman, calling it a milestone in bilateral cooperation. He said Pakistan was acting as a “frontline force” in the fight against drugs and stressed that those involved in the “heinous trade” were being dealt with firmly.

Naqvi cited the arrest of 400 people allegedly involved in smuggling narcotics into the UAE and the seizure of around five tons of drugs, saying such successes were only possible “through joint efforts and timely exchange of information.” 

He also pointed to an uptick in synthetic drug smuggling in recent months and said Pakistan had launched a crackdown on the criminal networks behind it.

As quoted in the statement, Sheikh Zayed pledged full support from the Emirati side, saying:

“Every possible cooperation will also be provided by the UAE in the field of anti-narcotics. We must strengthen mutual cooperation so that we can provide a better future for coming generations.”


Pakistan says 19 militants killed in three operations in northwest

Pakistan says 19 militants killed in three operations in northwest
Updated 57 min 52 sec ago

Pakistan says 19 militants killed in three operations in northwest

Pakistan says 19 militants killed in three operations in northwest
  • ISPR says weapons and ammunition recovered as troops continue area ‘sanitization operations’
  • President Asif Zardari hails the raids as proof of Pakistan’s resolve to eradicate militant violence

ISLAMABAD: Pakistani security forces killed 19 militants in three separate operations in the country’s northwest this week, the military’s media wing, Inter-Services Public Relations (ISPR), said on Thursday.

Tehreek-e-Taliban Pakistan (TTP), which Islamabad calls “khwarij,” an early-Islamic term for rebels who declared other Muslims apostates, has intensified attacks in the region in recent years. Pakistani officials often accuse the TTP and separatist groups such as the Baloch Liberation Army of being backed by India, a charge New Delhi denies.

“On 9-10 September, nineteen Khwarij belonging to Indian Proxy, Fitna al Khwarij were sent to hell in three separate engagements in Khyber Pakhtunkhwa Province,” the ISPR said.

“Weapons and ammunition were also recovered from Indian sponsored killed Khwarij, who remained actively involved in numerous terrorist activities in these areas,” it added.

According to the statement, security forces first launched an intelligence-based operation in the Guluno area of Mohmand district, where 14 militants were killed after an intense exchange of fire.

A second operation in Datta Khel, North Waziristan, left four militants dead, while another encounter in Bannu district killed one.

ISPR said “sanitization operations” were continuing to eliminate any remaining fighters in these areas, reaffirming that security forces were determined to eradicate militant violence from the country.

President Asif Ali Zardari praised the operations, saying the courage and professionalism of Pakistan’s soldiers “continue to protect the nation from the scourge of terrorism.” He vowed Pakistan would keep pursuing militants “until every last terrorist and their facilitators are brought to justice.”


Pakistan’s top refiner Cnergyico to boost fuel oil exports as domestic sales plummet

Pakistan’s top refiner Cnergyico to boost fuel oil exports as domestic sales plummet
Updated 39 min 7 sec ago

Pakistan’s top refiner Cnergyico to boost fuel oil exports as domestic sales plummet

Pakistan’s top refiner Cnergyico to boost fuel oil exports as domestic sales plummet
  • Company recently made Pakistan’s first purchase of low-sulfur US crude to cut high-sulfur fuel oil output
  • Pakistan’s fuel-oil power generation has declined with lower demand amid rising solar and nuclear output

SINGAPORE: Pakistan’s largest refiner Cnergyico expects to boost fuel oil exports by 35 percent to 40 percent during the fiscal year ending June 2026 as high taxes have cut into domestic sales, its vice chairman said.

Pakistan levied additional taxes of about 40 percent on domestic sales of fuel oil in June, on top of a consumption tax of 18 percent, effectively shutting its refiners out of the domestic market.

The company has exported 80,000 tons, or 95 percent of its production, from July to date, versus 55 percent in the last fiscal year that ended in June, Usama Qureshi told Reuters on the sidelines of the APPEC conference.

Sales of fuel oil, mainly used by ships, typically make up 10 percent to 15 percent of the refiner’s annual revenue.

Cnergyico exported 247,000 metric tons (1.57 million barrels) in the fiscal year ended June, and an increase of 35 percent to 40 percent would boost annual exports to 333,000 tons to 346,000 tons.

Pakistan’s fuel oil exports jumped to an all-time high of 242,000 tons in August, data from analytics firm Kpler showed.

Cnergyico is upgrading its refinery complex to reduce fuel oil production and boost fuel sales to the domestic market, in line with Pakistan’s policy guidelines to upgrade refineries to produce cleaner fuels, Qureshi said in an interview.

“We will be importing more sweet crude and upgrading the refinery to produce cleaner diesel and gasoline, and also plan to set up fuel oil cracking facilities to boost gasoline production,” Qureshi added.

Cnergyico mainly imports so-called sour crude, with high sulfur content, from the Middle East, and booked Pakistan’s first-ever purchase of US crude last month.

US crude grades typically contain low levels of sulfur, and produce less fuel oil when refined.

Domestic sales of fuel oil are typically more profitable, while export revenue depends on fuel oil cracks, Qureshi said.

The company sold fuel oil to traders who exported it to destinations such as southern Europe, Singapore and the United Arab Emirates.

Pakistan has a significant fuel oil-based power generation capacity, but utilization has plunged this decade, due to lower power demand, higher solar adoption and increased generation from other clean energy sources such as nuclear.


Pakistan PM to meet Qatar’s emir after Israeli strike on Doha, call for Middle East stability

Pakistan PM to meet Qatar’s emir after Israeli strike on Doha, call for Middle East stability
Updated 11 September 2025

Pakistan PM to meet Qatar’s emir after Israeli strike on Doha, call for Middle East stability

Pakistan PM to meet Qatar’s emir after Israeli strike on Doha, call for Middle East stability
  • Israel’s unprecedented air raid on the Gulf nation killed at least six people, including a Qatari security guard
  • Pakistan has condemned the attack and requested an emergency UN Security Council session to discuss it

ISLAMABAD: Prime Minister Shehbaz Sharif is scheduled to meet Qatar’s Emir Sheikh Tamim bin Hamad Al Thani today, Thursday, as he begins a visit to the Gulf state to express solidarity and call for stability in the Middle East after Israeli airstrikes in Doha this week.

The Israeli strikes hit a residential neighborhood on Tuesday in an attempt to target a group of Hamas leaders, killing at least six people, including a Qatari security guard. Hamas confirmed Israel had sought to assassinate its negotiators but failed.

Qatar has played a central role in mediating peace in Gaza, hosting Hamas’ political bureau as part of negotiations. The airstrikes were unprecedented as it was the first time Israel attacked a Gulf nation.

“In a gesture of solidarity and regional unity, following the recent Israeli cowardly airstrikes targeting residential areas in Doha, Prime Minister Muhammad Shehbaz Sharif, accompanied by a high-level delegation, including Deputy Prime Minister/Foreign Minister Senator Mohammad Ishaq Dar, will embark on a visit to Qatar on 11 September 2025,” the foreign office said in a statement.

“The visit underscores Pakistan’s unwavering support for the security and sovereignty of Qatar and its commitment to peace and stability in the Middle East,” it added. “The Prime Minister will meet with His Highness Sheikh Tamim bin Hamad Al Thani in Doha to convey Pakistan’s deepest sympathies and support for the Qatari leadership and people.”

Pakistan said a day earlier it had requested an emergency session, in collaboration with Algeria and Somalia, of the United Nations Security Council (UNSC) to discuss Israel’s “brazen attacks” on Qatar.

Israel’s strike took place amid its ongoing military operations in Gaza, where more than 64,600 people have been killed since the campaign began in October 2023.

Qatari officials denounced the strike as a “criminal attack” and a “flagrant violation” of international law that endangered the security of both Qatari citizens and foreign residents.

Israeli Prime Minister Benjamin Netanyahu said the assault was a “wholly independent Israeli operation” for which his government took “full responsibility.”