ISLAMABAD: Foreign Minister Ishaq Dar said on Thursday Pakistan had pitched an “epic menu” of investment projects worth $30 billion to Saudi Arabia during a visit this week by the Kingdom’s foreign chief, adding that Iranian President Ebrahim Raisi would visit Islamabad from April 22-25.
Saudi Foreign Minister Prince Faisal bin Farhan Al Saud was in Islamabad earlier this week where he said Riyadh would be “moving ahead significantly” to invest in projects in the South Asian nation. His visit followed a meeting in Makkah between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman in which the Kingdom had pledged to expedite $5 billion in investments.
Speaking to journalists at an informal meet-and-greet on Thursday afternoon, Dar said Pakistan had pitched projects worth $30 billion to the Saudi delegation, which would “take time” to materialize. 
“It’s a process, it doesn’t happen overnight,” the foreign minister said. “We have given them a big epic menu to select [from]. After that their expression of interest has been indicated. On that, we will get details on [April] 28, so it takes time. But all vibes are very positive.”
Dar said PM Sharif had invited the Saudi crown prince to visit Pakistan during their meeting in Makkah earlier this month:
“He has very kindly accepted the invitation. The timing of the visit will obviously be sorted out between diplomatic channels of the two countries.”
Responding to a question about a planned visit by Iran’s Raisi to Pakistan, Dar said it had been in the works for “weeks and months.”
“He is coming. The visit is on the cards on 22, 23, 24 [April] and we are preparing fully for this.”
Dar also said Afghan Interim Foreign Minister Mawlawi Amir Khan Muttaqi had invited him to visit Afghan when the two leaders spoke on the telephone last month.
No country has recognized Taliban rule since they seized power in August 2021, after the Western-backed government collapsed as the last US-led international troops departed following two decades of war.
When asked if he would accept Muttaqi’s invitation to visit Kabul, Dar responded: 
“By not interacting we will achieve nothing … so my own fundamental thinking is this, but obviously it [visit] is subject to clearance by the prime minister and MOFA [ministry of foreign affairs] advice that at the appropriate time we will definitely visit.”
Dar also spoke about tensions in the Middle East as the Israeli military has pledged a response to Iran’s retaliatory strikes last week for a suspected Israeli airstrike on its embassy compound in Damascus on April 1. 
Israel and its allies mostly shot down all missiles and drones and there were no deaths, but Israel says it must retaliate to preserve the credibility of its deterrents. Iran says it views the matter as closed but will retaliate again if Israel does.
“Our policy guidelines are about peace, we don’t want any confrontation, we want a peaceful resolution, we want a Gaza solution as soon as possible,” Dar said when asked about the possibility of escalation. 
“We want a ceasefire in Gaza, we want a Palestinian permanent state.”

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday chaired a meeting on Saudi investments in Pakistan and directed top officials to devise an “action plan” to complete projects discussed during a visit by Foreign Minister Prince Faisal bin Farhan Al Saud to Islamabad this week.
Prince Faisal arrived in Pakistan on Monday on a two-day visit aimed at enhancing bilateral economic cooperation and pushing forward previously agreed investment deals. Addressing a press conference on Tuesday, he said Riyadh would be “moving ahead significantly” to invest in projects in the South Asian nation.
His trip followed a meeting between Crown Prince Mohammed bin Salman and Sharif in Makkah, in which the Saudi leader reaffirmed the Kingdom’s commitment to expedite investments worth $5 billion.
Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and the top source of remittances to the cash-strapped South Asian country.
“I will personally monitor the completion of projects with Saudi investment,” Sharif was quoted as saying at a meeting of top officials from relevant ministries and the Special Investment Facilitation Council (SIFC), a body consisting of Pakistani civilian and military leaders set up last year to promote investment in Pakistan.
During the FM’s visit this week, investments in the sectors of mining and minerals, agriculture, energy, information technology and infrastructure development were discussed.
“Any type of negligence regarding international investment projects is not acceptable … Outdated procedures and red tape will not work at all,” Sharif added.
“In this regard, a comprehensive action plan should be presented to increase the capacity of ministries. The Investment Board, SIFC and relevant ministries should formulate a plan of action for the completion of the projects decided in the discussions with the Saudi delegation.”
The PM said a delegation of well-known businessmen from Saudi Arabia was expected to arrive in Pakistan soon, and more investment opportunities also would be finalized during an upcoming visit by Sharif to Saudi Arabia.
Cash-strapped Pakistan desperately needs to shore up its foreign reserves and signal to the International Monetary Fund (IMF) that it can continue to meet requirements for foreign financing that has been a key demand in previous bailout packages. Pakistan’s finance minister, Muhammad Aurangzeb, is currently in Washington to participate in spring meetings of the International Monetary Fund and World Bank and discuss a new bailout program. The last loan deal expires this month.
Saudi Arabia has often come to cash-strapped Pakistan’s aid in the past, regularly providing it oil on deferred payments and offering direct financial support to help stabilize its economy and shore up forex reserves.
Last year, however, Saudi Arabia’s finance minister said the Kingdom was changing the way it provides assistance to allies, shifting from previously giving direct grants and deposits unconditionally and moving toward mutually beneficial investment deals backed by internal economic reforms.