Dutch queen to visit Pakistan for three days next week

Queen Maxima of the Netherlands waves during the opening of the opening of the ninth edition of the Pensioen3daagse (Pension3days), organized by the national platform Wijzer in geldzaken (wise in money) in Utrecht, on November 5, 2019. (AFP)
Updated 17 November 2019

Dutch queen to visit Pakistan for three days next week

  • Queen Maxima will be in the country from November 25 to 27
  • To discuss improvement in financial services provided to citizens

ISLAMABAD: Netherlands Queen Maxima is expected to begin her three-day visit to Pakistan next week to oversee an initiative by the central bank in the country, the Foreign Office said in a statement released on Sunday.

“Her Majesty Queen Máxima of the Netherlands will visit Pakistan from November 25-27, in her capacity as the United Nations Secretary-General’s Special Advocate (UNSGSA) for inclusive finance for development,” excerpts from the statement read.

As part of the visit, she will be attending the launch of a Micro Payment Gateway, an initiative taken by the State Bank of Pakistan, aimed at reducing the costs of small payments and promoting financial inclusion.

Queen Máxima is also expected to hold talks with President Arif Alvi and Prime Minister Imran Khan, besides meeting with a range of stakeholders from the public and private sectors.

Inclusive finance for development is one of the government’s key priorities, with several steps taken in recent years to promote the same.

Queen Máxima is actively engaged in promoting access to financial services at a reasonable cost, with the aim of improving economic and social development opportunities in countries across the world.

This will be the queen’s second trip to Pakistan after her last visit in February 2016.

Russian minister in Islamabad to offer investment in heavy industry

Updated 10 December 2019

Russian minister in Islamabad to offer investment in heavy industry

  • Russians are interested in Pakistan’s energy, oil and gas, defense and steel sectors
  • Russian delegation is in Islamabad to attend Inter-Governmental Commission meeting

ISLAMABAD: Pakistan and Russia have agreed to expand business and trade ties, with investment in the energy, oil and gas and defense, Special Assistant to the Prime Minister on Petroleum Nadeem Babar told Arab News in an exclusive interview on Tuesday.

A delegation of 64 Russian officials, led by Trade and Industries Minister Denis Manturov, discussed the plans with Pakistani stakeholders at a meeting of the Pakistan-Russia Joint Working Group (JWG) on Energy in Islamabad on Monday.

“The Russian delegation is here to expand ties with Pakistan and engage in trade and business worth billions of dollars. They are interested in three major sectors – energy, oil and gas, and defense,” Babar said.

“In its first phase, Pakistan is going to auction 12 blocks of E&P (exploration and production) this month. Russians are very much interested in this auction,” he added.

“They have representatives of oil and gas companies with them in this delegation, who discussed different projects and showed interest in bidding for these blocks. We are very hopeful that they will take a few blocks in this auction which would be a first as they have never operated in Pakistan before,” he said.

Russian companies are also interested to build a gas pipeline from Karachi to Lahore, Babar said. “We hope to sign an agreement on this in the next two months as both sides have agreed on many things. We have many meetings on this and after this visit, we hope all remaining issues will be solved.”

He said Pakistan and Russia have also discussed an agreement, which was signed earlier, for the laying of more than 1,500 kilometers of an offshore gas pipeline that would transport natural gas from Russia to Pakistan.

Babar said Russia has also shown interest in the rehabilitation and upgrading of Pakistan Steel Mills (PSM) and wants to invest $1 billion. He added, however, that “other countries are also interested in Steel Mills.”

Sergey Vasiliev, director of Russia-Pakistan Business Forum who is in the delegation, told Arab News the visit will be good for removing trade and investment obstacles between the two countries, and for improving business to business contacts.

As Pakistan’s image has lately improved in Russia, “Russian businessmen are more interested in the oil and gas and energy sectors,” he said.

“We are discussing collaboration with Pakistan Steel Mills, so new technology from Russia can enhance its production. We are also ready to provide support in the field of agriculture, especially in increasing storage capacity for local food items and fruits.”

A major breakthrough in Pakistan-Russia relations was the signing of an agreement in Moscow on Dec. 4 by Russia’s Deputy Finance Minister Sergey Storchak and Pakistani Ambassador Qazi Khalilullah, whereby Pakistan will repay its $93.5 million debt to Russia, he said.

On Wednesday, the delegation is scheduled to attend an inter-governmental commission meeting at the Ministry of Foreign Affairs.