黑料社区

Saudi investment minister says 27 agreements worth $2 billion to be signed with Pakistan today

Special Saudi investment minister says 27 agreements worth $2 billion to be signed with Pakistan today
黑料社区鈥檚 Investment Minister Khalid bin Abdulaziz Al-Falih speaks during the inauguration of Pak-Saudi Business Forum 2024 in Islamabad on October 10, 2024. (Photo courtesy: Urdu News)
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Updated 10 October 2024

Saudi investment minister says 27 agreements worth $2 billion to be signed with Pakistan today

Saudi investment minister says 27 agreements worth $2 billion to be signed with Pakistan today
  • Al-Falih says Riyadh wants to give large share of $200 billion in annual construction, material procurement contracts to Pakistan
  • Al-Falih said trade between Pakistan and the Kingdom had increased by 80% from $3 billion in 2019 to $5.4 billion dollars currently

ISLAMABAD: 黑料社区鈥檚 Investment Minister Khalid bin Abdulaziz Al-Falih said on Thursday 27 agreements and memorandums of understanding (MoU) worth $ 2 billion would be signed today, Thursday, with Pakistan, and the Kingdom hoped to give a large share of $200 billion in annual construction and material procurement contracts to Islamabad in the future.聽
Al-Falih was addressing a joint business forum in Islamabad during a three-day visit with a delegation of over 130 members, including representatives from Saudi companies specializing in energy, mining, minerals, agriculture, business, tourism, industry, and manpower.
鈥淧akistani Prime minister will be speaking to the Saudi delegation later this evening and will be presiding over an exchange of agreements and MOUs totaling 27 that will be signed throughout the day,鈥 Al Falih said as he addressed the Pak-Saudi Business Forum 2024.聽
He said many of the $2 billion agreements had already been negotiated and agreed upon.
The investment minister said 黑料社区, the largest construction site in the world, would in the next few years be awarding construction and material procurement contracts to the tune of around $1.8 trillion.
黑料社区 is set to become the world鈥檚 largest construction market as the Kingdom pours vast amounts of money into projects aimed at overhauling and diversifying the economy. The country鈥檚 total construction output value is forecast to reach $181.5 billion by the end of 2028, up almost 30 percent from 2023 levels, according to a 2024 report by global property consultancy Knight Frank.
鈥淟ast year, the value of construction and EPC [engineering, procurement, and construction] procurement, including materials, was $150 billion, this year that鈥檚 $180 billion and it will be about $200 billion annually of contract and material procurement awards year after year,鈥 Al-Falih said.聽
鈥淔ortunately for our partners here in Pakistan, a lot of the input into those contracts is going to be imported and we want it to be imported from Pakistan. All things being equal, in fact, we will compromise a little bit to make it come from Pakistan.鈥
Al-Falih said trade between Pakistan and the Kingdom had increased by 80 percent from $3 billion in 2019 to $5.4 billion dollars currently, adding that 黑料社区 was 鈥渆ncouraged鈥 by the number of Pakistani investment licenses, which had more than doubled in the last couple of years, reaching 2,000 Pakistani investors in 黑料社区.聽
鈥淭he Foreign Direct Investment (FDI) stock in 黑料社区 of Pakistani investment is already exceeding $1.6 dollars and we are committed to and extremely encouraged by the announcement by His Royal Highness the Crown Prince, committing the front end of Saudi investment into Pakistan, which is $5 billion,鈥 the minister said.
Al-Falih鈥檚 visit to Islamabad comes as Pakistan seeks closer cooperation in trade, infrastructure, 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 黑料社区 in particular have been working closely in recent months to increase bilateral trade and investment, with Crown Prince Mohamed bin Salman reaffirming the Kingdom鈥檚 commitment this year to expedite a $5 billion investment package for the South Asian country.
Last month, the International Monetary Fund鈥檚 board approved a long-awaited $7 billion bailout deal for Pakistan鈥檚 struggling economy. The IMF said the new program will require 鈥渟ound policies and reforms鈥 to strengthen macroeconomic stability and address structural challenges alongside 鈥渃ontinued strong financial support from Pakistan鈥檚 development and bilateral partners.鈥
鈥淪TRATEGIC PARTNERSHIP鈥
Addressing the business forum, Pakistani Deputy Prime Minister Ishaq Dar said Pakistan had vast potential in sectors such as mining, information technology, agriculture, and renewable energy, inviting Saudi businesses to participate in 鈥渕utually beneficial鈥 opportunities and ventures.

鈥淭he MOUs signed today include a wide range of sectors, mainly semiconductors, energy, livestock, manpower and IT and these MOUs are the result of dedicated follow-up by your side and our side, public and private sector entities, of the direction given by the leadership of both countries,鈥 Dar said.
The deputy PM said Pakistanis were 鈥渆agerly awaiting鈥 the visit of the Saudi Crown Prince Mohammed bin Salman to Pakistan.聽
鈥淭his visit will not only further strengthen and put a strong bond in our strategic partnership but will also be a way for more collective efforts in various sectors we are currently located,鈥 he added.

Inaugurating the forum, Pakistan鈥檚 Commerce Minister Jam Kamal said Pakistan would organize a single country exhibition in Jeddah in 2025 to promote its trade potential and attract investment.
鈥淧akistan鈥檚 exports are only two percent of 黑料社区鈥檚 total trade, and an increase in Pakistani exports to the Kingdom is essential,鈥 he said, adding that Pakistani companies could play an important role in the construction, IT and agriculture sectors in the Kingdom.


Pakistan launches first green sukuk to cut telecom emissions, modernize energy use

Pakistan launches first green sukuk to cut telecom emissions, modernize energy use
Updated 26 September 2025

Pakistan launches first green sukuk to cut telecom emissions, modernize energy use

Pakistan launches first green sukuk to cut telecom emissions, modernize energy use
  • Landmark initiative aims to slash 13,500 tons of CO鈧 annually and save 5 million liters of diesel
  • AI-powered battery project to boost telecom tower uptime, accelerate Pakistan鈥檚 digital transition

ISLAMABAD: Pakistan on Thursday launched its first green sukuk for the telecom sector and completed a major artificial intelligence-powered battery storage project, in a move aimed at cutting emissions, reducing diesel dependence and modernizing the country鈥檚 digital infrastructure.

The sukuk 鈥 a Shariah-compliant Islamic bond worth up to Rs3 billion ($10.8 million) 鈥 is designed to finance the rollout of low-carbon, AI-enabled energy solutions for thousands of telecom towers across the country. The bond was launched by Infralectric, a subsidiary of Brillanz Group, in partnership with InfraZamin Pakistan.

The launch coincided with the completion of Pakistan鈥檚 first 25 megawatt-hour (MWh) Energy Storage-as-a-Service project, which uses Thunder AI technology to optimize power use at telecom sites. 

The battery network is expected to reduce diesel consumption by more than 5 million liters a year, cut around 13,500 tons of CO鈧 emissions annually 鈥 equivalent to planting over 220,000 trees 鈥 and improve network uptime across Pakistan鈥檚 telecom portfolio.

鈥淭oday is a historic moment for Pakistan鈥檚 digital and energy future,鈥 Bilal Qureshi, CEO of Brillanz Group, said in a statement. 

鈥淲ith Thunder AI-powered ESaaS and the launch of the first Green Sukuk for telecom, we鈥檙e proving that innovation and sustainability can drive growth together. At Brillanz, we remain committed to continuing to invest in solutions that deliver lasting impact.鈥

Government officials hailed the announcement as a milestone in Pakistan鈥檚 climate and digital transition efforts.

鈥淭oday is indeed a historic day for Pakistan,鈥 said Fahd Haroon, Minister of State and Special Assistant to the Prime Minister on Digital Media, adding that the two initiatives showed how innovation and collaboration could modernize thousands of telecom towers, cut carbon emissions, and create scalable green investments.

Maheen Rahman, CEO of InfraZamin Pakistan, said the partnership underscored the potential of Islamic finance to accelerate the shift to sustainable infrastructure.

鈥淚nfralectric are a prime candidate for the Sukuk market,鈥 Rahman said.

鈥淲e are keen to explore mechanisms to enable an Infralectric Green Sukuk, which would mark a pivotal step in unlocking sustainable finance for Pakistan鈥檚 telecom sector. Such initiatives modernize critical digital infrastructure and also contribute to Pakistan鈥檚 decarbonization and long-term economic resilience.鈥


Pakistan鈥檚 freelance economy could top $1 billion annually with stronger support 鈥 association

Pakistan鈥檚 freelance economy could top $1 billion annually with stronger support 鈥 association
Updated 26 September 2025

Pakistan鈥檚 freelance economy could top $1 billion annually with stronger support 鈥 association

Pakistan鈥檚 freelance economy could top $1 billion annually with stronger support 鈥 association
  • Pakistan ranks among world鈥檚 top five freelancing markets, with over 2.3 million freelancers
  • Industry leaders say training, financial integration and AI adoption can unlock export potential

KARACHI: Pakistan鈥檚 freelance workforce could boost its annual earnings beyond $1 billion if backed by stronger institutional support, better payment infrastructure and expanded training programs, the Pakistan Freelancers Association said on Thursday.

Pakistan is already ranked among the world鈥檚 top five freelancing markets, with more than 2.3 million active freelancers contributing to digital exports and employment.

Speaking at the 鈥淎I Beyond Border Summit 2025鈥 at the 26th ITCN Asia conference in Karachi, stakeholders said the country鈥檚 rapidly growing freelance sector was poised to become a cornerstone of Pakistan鈥檚 digital economy, attracting global clients and generating vital foreign exchange if nurtured with targeted policies, skills development, and seamless digital payment systems.

鈥淧akistan鈥檚 freelancing community is on the verge of a major milestone, with earnings expected to exceed $1 billion annually,鈥 said Ibrahim Amin, chairman of the Pakistan Freelancers鈥 Association (PAFLA). 

鈥淥ur freelancers are bringing foreign exchange, building global trust in Pakistani talent, and creating opportunities for themselves, fellow youngsters, and women.鈥

Amin said young, tech-savvy freelancers were driving the country鈥檚 digital growth, supported by initiatives from PAFLA, Innovista, the Pakistan Software Export Board (PSEB), and 1Link. These initiatives, he added, were 鈥渒ey steps forward in nurturing an evolving ecosystem that connects talent with innovation, fueling the country鈥檚 digital transformation.鈥

Innovista is an innovation platform and ecosystem builder working to train freelancers, support startups, promote AI skills, and connect Pakistani talent with global opportunities.

Tahir Malik, project director at Innovista Indus, said the organization was expanding mentorship and training programs while assisting freelancers on tax-related issues. Innovista also launched a National Agentic AI Hackathon to engage 1,000 participants across six cities as part of efforts to make freelancing a 鈥渃ompetitive and sustainable鈥 source of foreign exchange and IT exports.

Financial infrastructure is another key factor in scaling the freelance economy, said Muhammad Shahzab from 1Link, which is building a seamless payment network to support independent workers.

鈥淲e are working at 1Link to build a seamless payment infrastructure that empowers freelancers by enabling fast, transparent, and secure payments,鈥 Shahzab said. 鈥淭his will strengthen Pakistan鈥檚 freelance economy and enable professionals to compete globally.鈥

Panel discussions at the summit also explored the impact of artificial intelligence on the future of freelance work and how Pakistan鈥檚 workforce can adapt to emerging technologies.
 


Pakistani PM, army chief meet Trump as Islamabad seeks reset with US, greater regional role

Pakistani PM, army chief meet Trump as Islamabad seeks reset with US, greater regional role
Updated 26 September 2025

Pakistani PM, army chief meet Trump as Islamabad seeks reset with US, greater regional role

Pakistani PM, army chief meet Trump as Islamabad seeks reset with US, greater regional role
  • Meeting marks Sharif鈥檚 first with Trump since his return to the White House and the first joint civilian-military visit in years
  • Talks focus on trade, counterterrorism and Gaza war as Islamabad hails Trump鈥檚 role in brokering Pakistan-India ceasefire

ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif and Field Marshal Syed Asim Munir met US President Donald J. Trump at the White House on Thursday in a high-level engagement aimed at resetting relations between the two countries and expanding cooperation on security, trade and regional peace.

The Oval Office talks marked Sharif鈥檚 first meeting with Trump since the latter鈥檚 return to power earlier this year and the first joint appearance by Pakistan鈥檚 top civilian and military leadership before a US president in years. The meeting followed a precedent-setting White House lunch between Trump and Field Marshal Munir earlier this year 鈥 conducted without civilian officials present 鈥 and which came amid shifting geopolitical dynamics, including Washington鈥檚 increasingly strained ties with New Delhi.

By pairing civilian and military leadership in the same room with the US president, Pakistan is widely seen to be signaling a more coordinated foreign policy posture aimed at strengthening its influence in wider Middle Eastern and Asian security discussions.

During what the Pakistani prime minister鈥檚 office described as a 鈥渨arm and cordial鈥 meeting, Sharif said he was confident the talks would usher in a new phase in bilateral relations.

鈥淯nder President Trump鈥檚 leadership, the Pakistan-US partnership will be further strengthened to the mutual benefit of both countries,鈥 Sharif was quoted as saying in a statement released by his office after the meeting.

Sharif and Munir arrived at the White House shortly before 5pm on Thursday as Trump was signing executive orders and talking with reporters. The meeting between the two leaders was closed to the media, with Pakistan鈥檚 delegation leaving the White House at 618pm.

Ties have improved between the US and Pakistan as Trump鈥檚 relationship with Indian Prime Minister Narendra Modi, one of the Republican president鈥檚 closest with a world leader during his first term, has become strained over India鈥檚 increased purchases of discounted Russian oil after Moscow invaded Ukraine in February 2022. India and Pakistan are neighbors and fierce rivals.

Trump has dramatically raised tariffs on India for those oil purchases in an effort to put indirect economic pressure on Moscow.

Meanwhile, the US and Pakistan reached a landmark trade agreement in July that is expected to allow Washington to help develop Pakistan鈥檚 largely untapped oil reserves and lower tariffs for Islamabad.

During Thursday鈥檚 meeting, Sharif invited American firms to invest in Pakistan鈥檚 agriculture, IT, minerals and energy sectors.

He also praised Trump as a 鈥渕an of peace鈥 whose 鈥渂old, courageous and decisive leadership鈥 helped facilitate a ceasefire between Pakistan and India in May, averting what Islamabad said could have been a 鈥渕ajor catastrophe in South Asia.鈥

The truce, brokered with US involvement, followed a four-day war in which the two nuclear-armed neighbors shared artillery, missile and drone strikes.

Security and counterterrorism cooperation featured prominently in the talks, with Sharif thanking Trump for his public endorsement of Pakistan鈥檚 counterterrorism role and calling for expanded intelligence collaboration.

Sharif has gained favor with Trump since publicly endorsing the American leader for a Nobel Peace Prize over his role in brokering the ceasefire with India. Unlike Sharif, Modi has declined to indulge Trump鈥檚 attempt to claim credit for arranging the truce.

Pakistan did split with Trump on his decision to carry out US strikes in June on three Iranian nuclear facilities.

Pakistan said the attack 鈥渃onstituted a serious violation of international law鈥 as well as on the stature of the International Atomic Energy Agency.

With inputs from AP


Pakistan denies firewall behind 4G disruptions as users complain of slow Internet

Pakistan denies firewall behind 4G disruptions as users complain of slow Internet
Updated 26 September 2025

Pakistan denies firewall behind 4G disruptions as users complain of slow Internet

Pakistan denies firewall behind 4G disruptions as users complain of slow Internet
  • Pakistan mobile users complain of sluggish 4G Internet, disruptions to WhatsApp calls across the country
  • Telecom authority official says outdated infrastructure, rising data consumption to blame for 鈥榮low鈥 Internet

ISLAMABAD: A senior official of the Pakistan Telecommunication Authority (PTA) on Thursday rejected allegations that a national firewall system was causing disruptions to 4G Internet connections across the country, blaming the 鈥渟low鈥 Internet on an outdated infrastructure and rising data consumption.

The denial from the PTA comes as Pakistani users across the country complain of sluggish 4G Internet connection, citing disruptions to calls on messaging platform WhatsApp. Last year, media reports said the government was installing an Internet firewall to monitor and regulate content and social media platforms, triggering concern among digital rights activists.

Pakistan has frequently blocked the Internet and social media applications in the name of national security in recent years. In a report released earlier this month, global rights organization Amnesty International claimed Pakistan is spying on millions of its citizens using a phone-tapping system and a Chinese-built Internet firewall that censors social media. The rights watchdog claimed that the WMS 2.0 firewall, which inspects Internet traffic, can block 2 million active sessions at a time.

The government has denied it is using an Internet firewall to censor critics, while official said it would be used to protect government networks from attacks and to allow authorities to identify IP addresses associated with 鈥渁nti-state propaganda.鈥

鈥淚t is true that 4G speed on cellular networks in Pakistan is slow and it is affecting WhatsApp calls, but this issue is not related to firewall,鈥 Amir Shehzad, director general of licensing at the PTA, told Arab News on Thursday. 

鈥淔irewall is a protection system used globally. It ensures security of the system, not speed.鈥

He acknowledged that high population density areas such as Lahore鈥檚 Shah Alam Market face severe Internet congestion during peak hours. This was due to an overwhelming demand of 4G Internet on a limited infrastructure, Shehzad said. 

With 198 million SIM users and 58 percent of them relying on mobile broadband connection, Shehzad said the country鈥檚 four major telecom operators lack sufficient spectrum, towers and fiber connectivity to meet the rising demand of 4G Internet. 

Currently, only 15 percent of Pakistan鈥檚 telecom towers are connected via fiber-optic cables, compared with a figure of around 80-90 percent in advanced economies and around 25 percent in neighboring India, Shehzad said.

鈥淭here is a dire need for more radio frequency spectrum and the fiberization of towers,鈥 the PTA official noted.

He said that while Pakistan has allocated 274 MHz of spectrum, the government plans to expand this to 600 MHz in the coming months. Shehzad said the average monthly data usage has jumped from 6GB to 8GB per user within a year, fueled by video-sharing mobile applications such as TikTok which has nearly 90 million users in Pakistan.

鈥淲ith the same number of towers, congestion is the ultimate outcome,鈥 Shehzad said. 

He said the government has also waived its annual fees for fiber installation to incentivize telecom investment. The PTA official said that authorities have realized that people need faster Internet for businesses, services and entertainment.

鈥淪o, it is our top priority to enhance speed,鈥 he said, promising improvements in Internet connectivity within 10 months. 

鈥橣IREWALL DOES SLOW DATA鈥

Digital rights activist Haroon Baloch contested the PTA鈥檚 dismissal of the firewall鈥檚 role in disrupting Internet, saying that its sluggish speed was not just caused by infrastructural gaps and spectrum shortages alone, but also due to centralized filtering systems introduced by a firewall. 

鈥淐entralized filtering creates bottlenecks, increases latency and disrupts services like WhatsApp calls, degrading Internet quality and potentially infringing on digital rights,鈥 Baloch told Arab News. 

He pointed to European Union nations and South Korea, who maintain high standards of Internet quality through spectrum allocation, competitive pricing and strict benchmarks instead of centralized controls.

A senior executive of a leading telecom operator, speaking on condition of anonymity as he was not authorized to speak to media, echoed these concerns. 

鈥淭he firewall does slow data, like a filter on a water pipe reduces the flow,鈥 he said.

The executive added that Pakistan鈥檚 telecom sector struggles with some of the world鈥檚 lowest average revenue per user (ARPU), making it difficult for companies to invest in more towers or cover costs such as fuel for sites in areas with unreliable power supply. 

鈥淚nternationally, operators often have 50 MHz of spectrum, while in Pakistan we have 10 or 12 MHz,鈥 he said. 鈥淚t is far below what鈥檚 required 鈥 and it is expensive, as spectrum here is priced in US dollars rather than Pakistani rupees.鈥


Pakistan down Bangladesh to set up Asia Cup final with India

Pakistan down Bangladesh to set up Asia Cup final with India
Updated 25 September 2025

Pakistan down Bangladesh to set up Asia Cup final with India

Pakistan down Bangladesh to set up Asia Cup final with India
  • Pakistan made a modest 135-8 in 20 overs before restricting Bangladesh to 124-9
  • Green Shirts have lost twice to formidable India in this year鈥檚 Asia Cup tournament

DUBAI: Pakistan will face India in the Asia Cup final for the first time after their bowlers made amends for poor batting to upstage Bangladesh in an 11-run victory on Thursday.

Bangladesh fast bowler Taskin Ahmed grabbed 3-28 as Pakistan batters were sloppy on a sticky Dubai stadium pitch in their last Super Four match, managing a modest 135-8 in 20 overs.

But Pakistan staged a fightback through pacer Shaheen Shah Afridi (3-17) and Haris Rauf (3-33) to keep Bangladesh down to 124-9 in 20 overs and book their place in Sunday鈥檚 showpiece against India.
Shamim Hossain top-scored for Bangladesh with a 25-ball 30 and Saif Hassan scored 18.

Pakistan鈥檚 second win in the Super Four stage set them up for a third encounter against archrivals India.

They lost both previous meetings with their neighbors so far in the tournament, with the two matches marred by a no-handshake controversy.

India players refused to shake hands with Pakistan after the first game and the two sides also did not shake hands after the second.

Earlier, Taskin was well supported by spinners Rishad Hossain (2-18) and Mahedi Hasan (2-28) to keep Pakistan in check after they were sent in to bat.

Pakistan lost wickets at regular intervals as Taskin removed opener Sahibzada Farhan off the fourth ball of the match for four while Hasan had Saim Ayub for his fourth duck of the tournament.

Fakhar Zaman scored 13 and captain Salman Agha 19 as Pakistan tottered at 49-5.

It was a seventh-wicket stand of 38 between Mohammad Haris (31) and Mohammad Nawaz (25) that helped Pakistan add 52 in the last five overs.

Haris hit two boundaries and a six while Nawaz鈥檚 15-ball knock had two sixes and a boundary.

Shaheen, dropped twice by Bangladesh fielders, hit two sixes in his rapid 13-ball 19.