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Edhi Foundation wins Bahrain's Isa Award for Services to Humanity

Bahrain’s King Hamad bin Isa Al Khalifa presents the Isa Award for Service to Humanity to Faisal Edhi on November 12, 2019, in Manama. (Photo Courtesy: Bahrain News Agency)
Updated 14 November 2019
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Edhi Foundation wins Bahrain's Isa Award for Services to Humanity

  • Proud moment as Pakistan won this award for the first time, says Faisal Edhi
  • The $1 million award along with a gold medal and certificate of appreciation was delivered at a royal ceremony
Updated 14 November 2019
SAIMA SHABBIR

ISLAMABAD: Bahrain’s King Hamad bin Isa Al Khalifa on Tuesday gave the Isa Award for Services to Humanity to Pakistan’s Edhi Foundation in Manama, confirmed the award committee’s official statement.

“The Award was given following recommendations by the international jury, which selected the Edhi Foundation after shortlisting several qualifiers from different countries,” said the statement.

The $1 million award, along with a medal of pure gold and a high certificate of appreciation, was delivered at a splendid royal ceremony at the grand celebration hall of the Isa Cultural Center in the Al-Fateh Compound in Bahrain’s capital, Manama.

Addressing the ceremony, the king congratulated the Edhi Foundation on winning the award for its outstanding humanitarian services.

“We appreciate, here, the great efforts made by those in charge of the foundation in furthering its noble message as wished for by its late founder, Abdul Sattar Edhi, whose name shall remain immortal through his sacrifices, and whose contribution shall remain an exceptional model of outstanding humanitarian work,” the statement quoted him as saying.

The chief guest also thanked the board of trustees, jury committee and the general secretariat for their tireless efforts to make the Isa Award for Services to Humanity prestigious across the world.

“It is with great pride that we celebrate with you today the positive results of the Fourth Edition of the Isa Award for Service to Humanity, an award which has been advancing with confident and successful steps since we ordered its establishment 10 years ago,” added the king.

Established in 2009 by the King of Bahrain, the award is granted every two years to individuals or organizations that are selected through a grueling process by an expert panel of jurists.

Shaikh Mohammed bin Mubarak Al Khalifa, Deputy Premier and Chairman of the Board of Trustees of the Isa Award, said global society needed an initiative that reflected the Kingdom of Bahrain’s deep-rooted respect for humanity and coexistence.

“The decision of the board of trustees, based on the jury’s findings after two years of professional and transparent research and deliberation, is to grant the award to the Abdul Sattar Edhi Foundation from the Islamic Republic of Pakistan,” he announced.

Faisal Edhi, son of the late founder of the award-winning foundation, told Arab News on the phone from Bahrain that it was a proud moment not only for the Edhi Foundation but also for the whole country since it was the first time this award had come to Pakistan.

“Their jury consists of representatives from the whole world. Last year, they visited us twice to assess our work in Pakistan before conferring this award. The visiting team included members of the judiciary from Bahrain as well,” Edhi said, adding that his organization would spend the award money on welfare activities.

“We are planning to buy two air ambulances,” he said, “so there is a possibility that we will utilize this amount for that purpose. One of these will be small, which we are planning to buy from Belgium, while the other will be bigger to cater to the needs of the whole region.”

The Edhi Foundation is the largest Pakistani charity, founded by Abdul Sattar Edhi, a renowned philanthropist, ascetic, humanitarian and social activist, whose name continues to stand out in the world of humanitarian work.

The organization serves people from all races, religions, and nationalities without making any distinction.

“We have more than 350 Edhi Centers in more than 100 cities across Pakistan and more than 1800 ambulances are providing services to people round the clock,” Edhi said.

Pakistan’s former ambassador to Bahrain Javed Malik told Arab News that winning the Isa Award was a big achievement for the country since it was very prestigious and given after careful deliberation by an international jury.

“King Hamad bin Isa Al Khalifa is known for his compassion, humanity, and love for the underprivileged,” he continued. “This award is another manifestation of his great commitment to humanity and the welfare of humankind.”

Topics: Pakistan Edhi Foundation Bahrain

Pakistani conglomerate Engro looks to go global, main investor says

Updated 07 May 2024
Reuters
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Pakistani conglomerate Engro looks to go global, main investor says

  • The expansion plans include looking at telecom infrastructure in the Middle East, North Africa, and Central Asia
  • Engro Corp. has a market capitalization of $694 million on the Pakistan Stock Exchange and assets of $2.9 billion
Updated 07 May 2024
Reuters

KARACHI: Pakistan’s largest conglomerate, Engro Corp, is looking to expand into new markets, including the Middle East, Central Asia and Africa, the chemicals-to-energy company’s largest investor said on Tuesday.

Speaking to Reuters in a rare interview, Samad Dawood, vice chairman of Dawood Hercules Corp, which owns 40 percent of Engro Corp, said the company was also considering global liquefied natural gas (LNG) opportunities as well as hydrogen energy.

The expansion plans include looking at telecoms infrastructure in the Middle East, North Africa, and Central Asia, while it is looking at Africa to expand its fertilizer businesses, he said.

Engro Corp. has a market capitalization of 193 billion rupees ($694 million) on the Pakistan Stock Exchange and assets of 802 billion rupees ($2.9 billion), according to public data.

The group has businesses across multiple sectors in Pakistan, including energy, fertilizer, telecommunications and consumer goods.

It owns 56 percent of Pakistan’s first LNG terminal, Engro Elengy Terminal Pakistan, which was set up in the southern city of Karachi in 2015. Dutch energy logistics giant Royal Vopak owns the remaining 44 percent.

The terminal fulfils 15 percent of Pakistan’s natural gas demand.

Dawood said Engro will continue to invest in the energy sector despite having sold its coal-based assets, and was exploring new avenues for sustainable energy production.

He said the company was talking to technology providers in the hydrogen energy sector to figure out how to use ammonia as an energy transition solution.

Dawood added that Pakistan was far from being energy-secure and there were plenty of opportunities to invest further in the power sector.

Pakistan has moved toward reliance on LNG after its own domestic gas supplies dwindled fast as consumption in the industrial and residential sectors increased.

’DREAMER’

Dawood said the global push was inspired by his late elder brother Shahzada, who perished last year in the ill-fated Titan’s voyage to explore the Titanic wreckage — an accident that made global headlines when the deep-sea submersible imploded and killed all five people on board.

“He (Shahzada) was much more of a dreamer and pushing us to become more international and building that curiosity and engaging with the outside world,” Dawood said.

The Dawood family also faced a protracted legal ordeal in Pakistan where the company was accused of getting illegal favors from the government.

The case, which lasted years, finally ended last week with the country’s accountability watchdog dropping the case entirely. Dawood says the matter hurt the family deeply and even impacted their businesses and potential investors.

The company’s plans to push ahead are taking shape, Dawood said. On Monday, the boards of Engro and Dawood Hercules approved in principle a restructuring plan to allow them more capital flexibility.

Dawood said the restructuring will allow for participation in “opportunities that the entire economy provides,” adding that the boards wanted the flow of capital to be completely seamless between the two organizations.

He said Engro would be able to expand its investment mandate to include exploring opportunities created by multinational corporations divesting from Pakistan’s troubled markets.

Topics: Engro corp engro

Saudi Arabia’s Crown Prince expected to visit Pakistan ‘any time’ during May — FM Dar

Updated 07 May 2024
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Saudi Arabia’s Crown Prince expected to visit Pakistan ‘any time’ during May — FM Dar

  • The development comes after a flurry of high-level engagements between Pakistan and Saudi Arabia in recent weeks
  • Both countries have been working closely to increase bilateral trade and investment in several diverse sectors
Updated 07 May 2024
SAIMA SHABBIR

ISLAMABAD: Ishaq Dar, Pakistan’s deputy prime minister and foreign minister, on Tuesday said the much-awaited visit of Saudi Arabia’s Crown Prince Mohammed bin Salman to Islamabad was on the cards and could materialize “any time” during the month of May.

The statement follows a series of high-level engagements between the two countries, including the visits of Pakistan PM Shehbaz Sharif to the Kingdom and a visit of Saudi Foreign Minister Faisal bin Farhan to Islamabad.

The visit by the Saudi Crown Prince would mark his first trip to Pakistan in the last five years. His previous visit took place in February 2019 during the tenure of former prime minister Imran Khan.

“That visit [of Saudi Crown Prince] is due, which will happen any time during May,” Dar told reporters at a media briefing in Islamabad. “We will receive the final dates from there [Saudi Arabia] and as a foreign ministry, we are in touch and his visit as of now is on the cards.”

The Saudi Crown Prince accepted PM Sharif’s invitation to visit Pakistan during their meeting in Ramadan, according to Dar.

“He [Saudi Crown Prince] said that he will visit Pakistan after the initial government-to-government (G2G) and business-to-business (B2B) meetings,” the Pakistani foreign minister said.

Pakistan and Saudi Arabia have been working closely in recent weeks to increase bilateral trade and investment deals, with Crown Prince Mohammed bin Salman last month reaffirming the Kingdom’s commitment to expedite an investment package of $5 billion.

PM Sharif discussed increasing bilateral trade and investment in his meeting with the Crown Prince during Sharif’s visit to Saudi Arabia on April 6-8, according to Dar.

It was followed by the visit of a Saudi ministerial delegation, led by FM Prince Faisal, to Islamabad on April 15-16, during which Pakistan presented the Saudi delegation with an investment menu that was “meticulously prepared after extensive efforts.”

Following Sharif’s talks with the Crown Prince and other top Saudi officials in Riyadh, a 50-member, high-level delegation, led by the Kingdom’s Assistant Minister of Investment Ibrahim Al-Mubarak, arrived in Pakistan on Sunday to explore investment opportunities in the South Asian country.

“The Saudi Assistant Investment Minister has brought prominent private Saudi companies for B2B meetings as government could only involve in major projects such as Reko Diq, petrochemicals and mining,” he said, adding that his government had aligned Pakistani companies for matchmaking.

“While bilateral trade volume will be bolstered through the private sectors of both sides, the government will facilitate this process as demonstrated by our recent efforts.”

Dar said Pakistan’s future looked “promising” due to the rapid progress made on the bilateral trade and investment agenda, on the directives of the Saudi Crown Prince.

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 a top source of remittances to the cash-strapped South Asian country.

Topics: Pakistan Saudi Ties Saudi Arabia’s Crown Prince Mohammed bin Salman

’Wide potential’: Pakistani PM invites Japanese industrialists to invest in electric vehicle industry

Updated 07 May 2024
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’Wide potential’: Pakistani PM invites Japanese industrialists to invest in electric vehicle industry

  • The delegation, led by Japan’s Ambassador Wada Mitsuhiro, met PM Shehbaz Sharif to discuss various opportunities in Pakistan
  • PM Sharif says his government has formed committee to resolve issues faced by Japanese firms expanding businesses in Pakistan
Updated 07 May 2024
Arab News Pakistan

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday met with a delegation of Japanese industrialists in Islamabad and urged them to invest in Pakistan’s electric automotive industry, Sharif’s office said, amid country’s push to attract foreign investment.

The delegation, led by Japan’s Ambassador to Pakistan Wada Mitsuhiro, met the prime minister to discuss various opportunities in Pakistan, according to PM Sharif’s office.

The Pakistan premier noted that Japan and Pakistan were longstanding friends and the two countries should further promote trade and investment ties in various sectors.

“There is a wide potential for investment in the electric vehicle industry in Pakistan and Japanese companies with the best technology can take full advantage of it,” Sharif was quoted as saying by his office.

“All problems faced by Japanese industrialists and businessmen will be overcome together.”

He noted that his government had formed a committee to resolve the issues faced by Japanese companies, who were expanding their businesses in Pakistan.

During the meeting, the Japanese ambassador informed the prime minister about the arrival of a delegation of 20 well-known Japanese companies to Pakistan in July, which would prove to be an important milestone for the promotion of investment and trade between the two countries.

“The delegation informed the Prime Minister that Japanese companies have started local production of hybrid vehicles in Pakistan,” Sharif’s office said. “The Prime Minister welcomed this move.”

The development comes amid Pakistan’s efforts to attract foreign investment to keep the frail $350 billion South Asian economy afloat.

The cash-strapped nation last month completed its $3 billion International Monetary Fund (IMF) program which helped avert a default last year, but the government of PM Sharif has stressed the need for a fresh, longer-term program.

Pakistan is expected to seek at least $6 billion and request additional financing from the Fund under the Resilience and Sustainability Trust.

PM Sharif says Saudi business delegation’s visit to benefit Pakistan’s economic future

Updated 07 May 2024
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PM Sharif says Saudi business delegation’s visit to benefit Pakistan’s economic future

  • The prime minister says the Saudi minister leading the delegation described it as ‘a new era’ for Pakistan
  • Pakistan is seeking foreign investment to navigate a path to economic recovery as it seeks another IMF bailout
Updated 07 May 2024
Arab News Pakistan

ISLAMABAD: Prime Minister Shehbaz Sharif expressed confidence on Tuesday the Saudi business delegation’s visit to Pakistan would prove beneficial for his country while applauding his cabinet ministers for playing a constructive role in their dealings with the visiting investors.

The delegation, which comprised representatives of 30-35 Saudi companies, was led by the kingdom’s Saudi Assistant Minister of Investment Ibrahim Al-Mubarak and arrived in Pakistan on Sunday.

Its members held several business-to-business meetings to explore investment opportunities in various economic sectors of the country.

The prime minister said in the opening remarks of the cabinet meeting the delegation was satisfied with its engagements in Pakistan before returning to the kingdom. He particularly mentioned the head of the delegation, saying he praised the performance of Pakistani ministers.

“He said, ‘We are very satisfied and happily returning.’ And he said, ‘I will report that we have seen a new era in Pakistan.’ In this, the commerce minister has a very big role, as does the ministers of petroleum and finance,” the PM told the cabinet meeting.

“It augurs very well for our future,” he added.

The kingdom’s business delegation’s visit to Islamabad followed Saudi Foreign Minister Prince Faisal bin Farhan’s visit to Islamabad last month, when he was briefed by the authorities on various avenues to invest in the country.

Pakistan is trying to navigate a path to economic recovery by securing an International Monetary Fund bailout.

It also needs foreign investment to help fight a chronic balance of payments crisis.

Topics: Pakistan Saudi Ties

Pakistan expecting investment in port infrastructure by global shipping giant Maersk — minister

Updated 07 May 2024
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Pakistan expecting investment in port infrastructure by global shipping giant Maersk — minister

  • AP Moller-Maersk has a market share of around 20 percent in Pakistan’s containerized import-export activities
  • Qaiser Ahmed Sheikh says there is a lot of interest in Pakistan’s port as a global hub for transshipment
Updated 07 May 2024
KHURSHID AHMED   

KARACHI: Pakistan is expecting investment from a Denmark-based global shipping giant, AP Moller–Maersk (Maersk), in its port terminal and infrastructure, the Pakistani maritime affairs minister said on Tuesday, amid growing global interest in Pakistani ports.

The statement comes more than a week after Maersk Chief Executive Officer Keith Svendsen’s visit to Pakistan, where he met top officials to explore opportunities in Pakistan’s maritime sector.

Maritime Affairs Minister Qaiser Ahmed Sheikh told Arab News the Danish shipping firm was interested in investing in a terminal and port as well as allied infrastructure, including connecting bridges.

“We had very good discussions with them and they had shown eagerness and told us that they will submit proposal in a few days,” he said. “They want to take a terminal. There is some area where there is depth in the sea, where big ships can be anchored.”

Maersk has grown into a leading provider of logistics and supply-chain services across Pakistan. It has around 20 percent market share in Pakistan’s containerized import-export activities, according to Pakistan’s information ministry.

In January, the Danish shipping firm announced new smart logistics and warehouse facilities in China, Norway and Pakistan.

“With a vast network of warehousing and depot facilities across the country, including our flagship logistics hub in Port Qasim, Karachi — a sprawling 27-acre complex encompassing over 650,000 square feet of warehouse space — we ensure unparalleled support to Pakistani exporters and importers,” the shipping company said in a written response to Arab News.

“In total, Maersk now operates over a 1.5 million square feet footprint across 7 cities in Pakistan.”

Sheikh said many companies were interested in investing in the Karachi Port Trust (KPT) despite a limited space available there.

“We have limited space available in KPT and many, including foreign, companies are taking interest in it, particularly in the deep-water areas where water depth is high and we have the location,” he said.

“The point is that there is a lot of interest in Pakistan’s port right now because they are seeing this as a global hub for transshipment and they will also run the feeder vessels in the Gulf from here.”

To a question about a visiting Saudi delegation, the maritime affairs minister said “there are many breakthroughs” during the visit. “They are looking for areas of mutual interest which both sides can benefit from,” he added.

The South Asian nation has already signed an agreement with Abu Dhabi (AD) Ports Group which is investing about $395 million for the development of a container and cargo terminal under a government-to-government (G2G) agreement between the United Arab Emirates and Pakistan.

Topics: global shipping giant Maersk AP Moller-Maersk

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