Leading Pakistani business figure meets Saudi minister, discusses investment in diverse sectors

Azfar Ahsan, founder of the Pakistan’s Nutshell Group (left) in a meeting with Saudi Arabia’s Investment Minister Khalid Al-Falih in Riyadh, Saudi Arabia on March 7, 2024. (Photo courtesy: Nutshell Group)
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Updated 08 March 2024
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Leading Pakistani business figure meets Saudi minister, discusses investment in diverse sectors

  • The meeting in Riyadh focused on investment prospects in mining, agriculture and food security sectors
  • Pakistan, Saudi Arabia enjoy strong ties and the Kingdom is largest source of remittances to Pakistan

ISLAMABAD: Azfar Ahsan, founder of the Pakistan’s Nutshell Group, on Thursday met with Saudi Arabia’s Investment Minister Khalid Al-Falih in Riyadh and discussed with him investment prospects in various sectors, including mining, agriculture and food security, Ahsan’s group said.

The Nutshell Group is a combination of Nutshell Communications, Nutshell Conferences and Nutshell Solutions, which has been providing proactive, perceptive and strategic solutions for nearly two decades.

In their meeting in Riyadh, Ahsan, who served as Pakistan’s investment minister in 2021-22, and the Saudi minister discussed possible opportunities for collaboration between both countries in future projects.

“The meeting focused on investment prospects across diverse sectors such as mining and agriculture. A project on food security was specifically discussed in the context of achieving stability and prosperity,” the Nutshell Group said in a statement.

“They emphasized the need for consistency in partnerships for navigating complex geopolitical dynamics and fostering regional stability.”

Both figures expressed optimism about the prospects for deeper cooperation and mutual prosperity.

“They emphasized the enduring strength of the relationship between the two countries aimed at unlocking untapped potential and fostering sustainable economic development,” the statement read.

Pakistan and Saudi Arabia enjoy strong trade, defense and brotherly relations. The Kingdom is home to over 2.7 million Pakistani expatriates and the largest source of remittances to the cash-strapped South Asian country.

Saudi Arabia has also frequently bailed Pakistan out of its economic crisis over the years.


Eight killed as protesters storm US Consulate in Karachi after Iran confirms Khamenei killed

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Eight killed as protesters storm US Consulate in Karachi after Iran confirms Khamenei killed

  • Protesters smashed doors, set fire to property as police used tear gas to disperse crowds
  • Protests spread to Shiite-majority areas of Gilgit-Baltistan, UN office torched, curfew imposed

ISLAMABAD: At least eight people were killed in clashes near the US Consulate in Karachi on Sunday, the Edhi Foundation said, as protests erupted across parts of Pakistan following Iran’s confirmation that Supreme Leader Ayatollah Ali Khamenei was killed in joint US–Israeli strikes.

Hundreds of protesters gathered outside the consulate on Sunday afternoon, with some attempting to storm the compound and vandalizing property, according to footage circulating on social media and international news reports.

Videos showed protesters armed with sticks smashing doors and windows. Separate footage appeared to show property inside the consulate premises set on fire. International media outlets reported that police used tear gas and baton charges to disperse the crowd.

“The number of people killed during the firing and unrest near the American Consulate on Mai Kolachi Road has risen to eight,” the Edhi Foundation, a major charity and rescue organization, said in a statement.

Sindh Home Minister Zia-ul-Hassan Lanjar directed authorities to strengthen security around sensitive installations as unrest intensified.

“No one will be allowed to take the law into their own hands,” Lanjar said in a statement issued by his office.

He added that law enforcement agencies were fully alert and monitoring the situation, and vowed that action would be taken in accordance with the law against those disturbing public order.

The violence came hours after Iranian authorities confirmed Khamenei was killed in coordinated strikes carried out by the United States and Israel, dramatically escalating tensions in the Middle East and triggering protests in several countries.

PROTESTS SPREAD

Demonstrations were also reported in Skardu, in Pakistan’s northern Gilgit-Baltistan region, where hundreds of people staged a sit-in on a main road to protest Khamenei’s killing.

Shabbir Mir, spokesperson for the Gilgit-Baltistan chief minister, told Arab News that a United Nations office in the district had been set on fire.

“The protesters have torched an UN office in Skardu,” Mir confirmed.

Gilgit-Baltistan Police announced on its official Facebook page that a curfew had been imposed in the predominantly Shiite district.

The unrest in Pakistan follows a sharp escalation in the Middle East after the United States and Israel launched coordinated strikes in Iran on Saturday.

According to US officials, the operation targeted Revolutionary Guard command facilities, air defense systems, missile and drone launch sites, and military airfields. The US military said it suffered no casualties and reported minimal damage to its bases despite what it described as “hundreds of Iranian missile and drone attacks.”

Iran retaliated by launching missiles and drones toward Israel and targeting US military installations in Bahrain, Kuwait and Qatar. Israeli ally UAE said its air defense systems intercepted dozens of Iranian missiles and drones, but debris from the interceptions caused material damage in Abu Dhabi and Dubai, and at least one civilian, including a Pakistani national, was killed.

The UAE government condemned the strikes as a “blatant violation of national sovereignty and international law,” and issued rare emergency alerts urging residents to seek shelter, underscoring how the conflict has rippled far beyond Iran’s borders. 

The Israeli military said dozens of Iranian missiles were fired toward Israeli territory, many of which were intercepted. Israel’s Magen David Adom rescue service said a woman in the Tel Aviv area died after being wounded in a missile strike.