KARACHI: Pakistan and Saudi Arabia on Thursday discussed ways to expedite work on the Kingdom’s investment projects pledged under the $21 billion deals signed between the two countries in February this year.
A Saudi delegation headed by the Kingdom’s Deputy Minister of Energy, Industry and Mineral Resources Khalid bin Saleh Al-Mudaifer met Prime Minister’s Adviser on Commerce Abdul Razak Dawood and Chairman Board of Investment (BoI) Zubair Gilani to review progress on the implementation of investment projects.
“The visiting Saudi delegation held discussions to expedite projects in energy, petroleum and mining sectors,” a BoI official, who declined to be named, told Arab News.
During the meeting, the Saudi “delegation appreciated the progress on the investment front made during the previous year and described it as more the combined progress of the last ten years,” the official added.
Pakistan has also offered Saudi investors to explore investment opportunities in power sector which has already been identified for privatization.
Saudi Arabia is also interested in the mining sector, especially in the mineral resources of the country’s southwestern Balochistan province. “Mining in Balochistan is a provincial subject but the BoI has assured full support to Saudi investors. Where the potential exists, the BoI will support the implementation of projects,” the official informed.
Faced with energy shortage, Pakistan is taking steps to increase the share of renewable energy in its total energy mix which is dominated by fossil fuel at present. “During the meeting it was also decided to speed up the progress on the project for renewable power generation in Balochistan,” the official said.
Pakistan and Saudi Arabia had signed seven investment agreements during Crown Prince Mohammed bin Salman’s official visit to Islamabad in February this year.
These consist of a mega oil refinery that will be constructed in Pakistan’s Balochistan province for $11 billion and will house a petrochemical complex project in Gwadar deep-sea port.
The proposed mega oil refinery and petrochemical complex to be set up by Saudi Arabia will help Pakistan with technology, skill enhancement and human capital development. It will also result in employment generation and development of downstream, allied sectors.
Pakistan, Saudi Arabia review investment projects signed in February
Pakistan, Saudi Arabia review investment projects signed in February
- Saudi deputy minister of energy meets Pakistan’s commerce minister and BoI chief
- The two sides review progress on investment in energy, petroleum and mining sectors
Rescuers evacuate dozens to safety amid heavy snowfall in northwest Pakistan
- Khyber, Swat and South Waziristan are areas worst affected by snowfall in Khyber Pakhtunkhwa
- Authorities say rescue operations ongoing, process of clearing roads underway in affected areas
ISLAMABAD: Rescuers evacuated dozens of stranded residents to safety as heavy snowfall blanketed several mountainous districts, blocked roads and cut off villages in Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province, authorities said on Friday.
Rescue 1122 teams are operating in different areas of Tirah valley in KP’s Khyber district and shifted over 40 people, including children, to safe locations. The evacuees were provided with food, warm clothes and bedding, according to Rescue 1122 spokesman Bilal Faizi.
Around 55 people, who had been stranded in 20 vehicles in Sandana area, were rescued. Rescue 1122 teams from Peshawar, Swabi and Nowshera are participating in rescue operations, which continue despite difficulties due to slippery roads and heavy snow.
“People are stranded at various places due to heavy snowfall,” KP government spokesman Shafi Jan said in a statement. “Contact with some areas is not possible due to the suspension of [mobile] signals and road closures, however, rescue operations are ongoing.”
Separately, several people were stranded in four vehicles in Bahrain area of KP’s Swat, according to Rescue 1122.
“As soon as the information was received, the rescue disaster and medical teams immediately reached the scene,” the rescue service said. “The rescue personnel, taking professional action, safely shifted all the people to a safe place and also safely recovered the stranded vehicles.”
The process of clearing snow from the Malam Jabba Road, Kalam and other areas was being carried out, according to local authorities. Heavy snowfall has disrupted traffic on several roads in South Waziristan’s Ladha town as well.
Provincial authorities have not yet reported any loss of life.
Snowstorms have proven deadly in Pakistan in the past. At least 21 people, including children, died in January 2022 after they were stuck in freezing temperatures during a snowstorm in the Pakistani hill station of Murree.
Tens of thousands of tourists flock to Pakistan’s scenic areas in northwestern KP to witness snowfall every winter, often neglecting warnings from disaster management authorities amid dangerous weather conditions.
