ISLAMABAD: Federal Minister for Finance Muhammad Aurangzeb met with Sultan Abdulrahman Al-Marshad, CEO Saudi Fund for Development (SFD), in Washington on Thursday and discussed investable projects, including a dam and a major national highway.
Aurangzeb is in Washington for IMF and World Bank spring meetings. As he launches negotiations for a new three-year multi-billion-dollar bailout deal from the IMF, 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.
The Saudi official’s 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.
“Briefed him [SFD CEO] about his recent visit to Saudi Arabia and that of Saudi delegation to Pakistan during this week,” the finance ministry said about the meeting between the Pakistani finance minister and the Saudi official in Washington.
“Expressed satisfaction with the progress of ongoing projects. Discussed the funding of Diamer Bhasha dam and N-25 from Karachi to Chaman. Informed that Pakistan would pitch bankable and investable projects to Saudi investors.”
Diamer-Bhasha Dam is a concrete-filled gravity dam, in the preliminary stages of construction, on the River Indus between Kohistan district in Khyber Pakhtunkhwa and Diamer district in Gilgit Baltistan. Upon completion, the dam dam would produce 4800 megawatts of electricity through hydro-power generation, store an extra 10.5 cubic kilometers of water for Pakistan that would be used for irrigation and drinking, extend the life of Tarbela Dam located downstream by 35 years, and control flood damage by the River Indus downstream during high floods.
The N-25 or National Highway 25 is an 813 km national highway in Pakistan which extends along from Karachi, Pakistan’s commercial hub, in Sindh province to the Chaman border via Quetta in the Balochistan province of Pakistan.
During the Saudi FM’s visit this week, investments in the Pakistani sectors of mining and minerals, agriculture, energy, information technology and infrastructure development were discussed. Speaking to journalists on Thursday, Foreign Minister Ishaq Dar said Pakistan had pitched an “epic menu” of investment projects worth $30 billion to Riyadh during Prince Faisal’s visit.
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.
Pakistani finance minister, Saudi Fund for Development discuss funding for dam, highway
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Pakistani finance minister, Saudi Fund for Development discuss funding for dam, highway
- Aurangzeb is in Washington for IMF and World Bank spring meetings
- Saudi FM was recently in Pakistan to discuss investment projects
Islamabad rebuts claims of Pakistan being used as base for possible US strike on Iran
- Pakistan information ministry attributes the ‘reckless’ claims to ‘Afghanistan and Indian X accounts’
- ’Blame-pushing narrative tries to drag Pakistan into a US-Iran conflict without any evidence,’ it adds
ISLAMABAD: Pakistan on Monday refuted reports claiming that its territory could be used as a base for a possible US military strike on Iran, calling the claims a “reckless” attempt to drag Pakistani into a US-Iran conflict.
The Pakistan information ministry’s fact check account on X attributed the claims to “propaganda machineries Afghanistan and Indian X accounts,” identifying handles that claimed the US has moved aerial refueling (KC-135R) and surveillance aircraft to Pakistan.
The ministry said X accounts, @KHoorasanM_U1, @RealBababanaras and @AFGDefense, claimed these US aircraft are conducting unusual flights toward or into Iranian airspace and that Pakistan is being used as a base to support US stealth fighters (F-35/F-22) in a possible military strike on Iran.
Citing Reuters and Washington Post, the information ministry noted that while US refueling aircraft movements have been reported, but they were mostly linked to Europe, and there is no credible proof of any US aircraft based in Pakistan or any operational flights to Iran for a possible strike.
“This is a reckless, blame-pushing narrative that tries to drag Pakistan into a US-Iran conflict without any verifiable evidence,” the information ministry said on its fact check account on X, urging people not to share sensational military stories from “propaganda pages.”
“For national security and defense matters, rely only on ISPR (Inter-Services Public Relations), MoIB (Ministry of Information and Broadcasting), MoFA (Ministry of Foreign Affairs), and reputable defense outlets.”
The development comes amid weeks of public unrest in Iran over worsening economic conditions and a government crackdown on protesters.
The US-based Human Rights Activists News Agency said at least 572 people have been killed, including 503 protesters and 69 members of security forces. It said more than 10,600 people have been detained over the two weeks of protests.
The group relies on supporters in Iran cross-checking information, AP reported.
With the Internet down in Iran and phone lines cut off, gauging the demonstrations from abroad has grown more difficult. Iran’s government has not offered overall casualty figures.
US President Donald Trump last week threatened to intervene militarily if Tehran continued to kill protesters. He said late Sunday his administration was in talks to set up a meeting with Tehran but cautioned that he may have to act before then as reports of deaths mount and the government continues to arrest protesters.
“Iran called, they want to negotiate,” Trump told reporters on Air Force One.
Iran did not acknowledge Trump’s comments immediately. It has previously warned the US military and Israel would be “legitimate targets” if America uses force to protect demonstrators.
Separately, China said it opposes foreign “interference” in other countries.
“We always oppose interference in other countries’ internal affairs,” foreign ministry spokeswoman Mao Ning told a regular news conference on Monday, when asked about Trump’s comments. “We call on all parties to do more things conducive to peace and stability in the Middle East.”
