Saudi crown prince sincerely wants Pakistan to progress— PM Sharif

Pakistan Prime Minister Shehbaz Sharif addresses laborers during a luncheon on the occasion of Labor Day in Lahore, Pakistan on May 1, 2024. (PID)
Short Url
Updated 02 May 2024
Follow

Saudi crown prince sincerely wants Pakistan to progress— PM Sharif

  • PM Sharif says Saudi business delegation’s upcoming visit to Pakistan will enhance its economic ties with Kingdom
  • Sharif returned from Riyadh this week after holding extensive discussions on trade, investment with Saudi officials

ISLAMABAD: Saudi Crown Prince Mohammed bin Salman sincerely wants Pakistan to progress and prosper, Prime Minister Shehbaz Shari said on Wednesday after returning from a trip to the Kingdom earlier this week.

Sharif was in Riyadh from Apr. 27-30 to attend a special two-day meeting of the World Economic Forum on global collaboration, growth and energy. The Pakistani prime minister met the Saudi crown prince and the Kingdom’s various ministers to discuss bilateral investment and economic partnership during his stay.

Sharif spoke about his recent visit to the Kingdom during a luncheon he hosted at his Lahore residence for laborers and their families on the occasion of Labor Day.

“I have just returned from Saudi Arabia and believe me, my honorable brother there, Crown Prince Mohammed bin Salman, with all his heart, wants Pakistan to progress and wants to see prosperity in Pakistan,” Sharif said to loud applause. 

The Pakistani prime minister said he held extensive meetings with Saudi ministers and their teams in Riyadh on the sidelines of the WEF meeting, describing them as “extremely satisfactory.”

“In a few days, [a delegation of] Saudi businesspersons will come to Pakistan and that will enhance our trade relations,” he said.

In February 2019, Pakistan and Saudi Arabia inked investment deals totaling $21 billion during the visit of the Saudi crown prince to Islamabad. The agreements included about $10 billion for an Aramco oil refinery and $1 billion for a petrochemical complex at the strategic Gwadar Port in Balochistan.

Saudi Foreign Minister Prince Faisal bin Farhan visited Pakistan last month with a high-level delegation to strengthen bilateral economic cooperation and push forward previously agreed investment deals with the South Asian country.

Pakistan has said it pitched 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 serves as the top source of remittances to the cash-strapped South Asian country.

Both Pakistan and Saudi Arabia have been closely working to increase bilateral trade and investment deals, and the Kingdom recently reaffirmed its commitment to expedite an investment package worth $5 billion.

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 which has been a key demand in previous bailout packages. 

Saudi Arabia has often come to 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 its forex reserves.


Pakistan invites Austrian firms to partner in citrus value-addition, mining, renewable energy

Updated 16 February 2026
Follow

Pakistan invites Austrian firms to partner in citrus value-addition, mining, renewable energy

  • PM Shehbaz Sharif attends joint business forum in Vienna, invites Austrian companies to the EU-Pakistan business summit in Islamabad in April
  • The premier addresses the issue of illegal immigration, saying his government working to offer Europe workers with international certifications

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday invited Austrian companies to partner with Pakistani firms in citrus value-addition, mining and renewable energy sectors, saying their world-class expertise could help accelerate Pakistan’s growth.

Sharif said this while speaking at the Pakistan-Austria Business Forum during his two-day official visit to the European country, the first by any Pakistani premier in more than 30 years, according to the Pakistani foreign office.

The visit is focused on trade, investment and economic cooperation, and would involve productive interactions with the International Atomic Energy Agency, United Nations Office of Drugs and Crime, and the UN Industrial Development Organization.

Speaking at the business forum in Vienna, Sharif said Pakistan is an agrarian economy and nearly 60 percent of its population resides in rural areas, with its hardworking farmers adding to the country's huge potential in agriculture.

"Austria can be a great partner providing Pakistan with experience, with modern technology to have value addition in the field of citrus fruit and make marmalade, juices and export them to Austria, to Middle East, other parts of the world," he said.

"Secondly, in mines and minerals, again Austria can become a great partner. Pakistan has vast resources of minerals and of course very rare minerals in the province of KP (Khyber Pakhtunkhwa), Gilgit-Baltistan, Balochistan and Azad Kashmir."

Sharif's visit comes at a time when Pakistan is treading a long path to economic recovery under a $7 billion International Monetary Fund (IMF) bailout and seeks to boost trade and foreign investment to consolidate economic gains Islamabad has made in recent years.

Besides agriculture, PM Sharif invited Austrian companies to participate in renewable energy and grid modernization projects in Pakistan.

"Austria with its world-class expertise in engineering, renewable energy, environmental technology, advanced manufacturing [is well positioned] to benefit Pakistan’s growth trajectory," he said.

ILLEGAL IMMIGRATION, SKILLED LABOR

Sharif also addressed the issue of illegal immigration of citizens from Pakistan, among other countries, to Europe and said his government was working end the practice and instead offer trained, skilled human resource to European nations, with international certifications.

Thousands of citizens from Pakistan, Afghanistan, Bangladesh and other countries embark on perilous journeys each year attempting to enter Europe illegally in search of a better life.

In Dec., Pakistan's interior ministry said it had achieved a 47 percent drop in illegal immigration to Europe in 2025, with more than 1,700 human smugglers arrested as part of an expanded nationwide crackdown.

"I am absolutely against illegal immigration and we are working with our European friends, countries like Austria, Germany, France and other countries, to jointly bring this illegal immigration to a grinding halt," Sharif said.

"In return, your demand for trained labor, skilled labor, we are going to fulfill that demand with international certification to your requirement and your satisfaction."

The Pakistan premier said he looked forward to the participation of Austrian companies in the European Union-Pakistan Business Forum at the end of April in Islamabad.