Saudi, Pakistani businesses to continue investment talks on second day of Islamabad conference 

Saudi Assistant Minister of Investment Ibrahim Al-Mubarak delivers a speech at the Saudi Arabia-Pakistan Investment Forum 2024 in Islamabad on May 6, 2024. (PID)
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Updated 07 May 2024
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Saudi, Pakistani businesses to continue investment talks on second day of Islamabad conference 

  • High-level Saudi business delegation led by Kingdom’s assistant minister for investment arrived in Pakistan on Sunday
  • 30 Saudi firms from IT, telecos, energy, aviation, building, mining, agriculture are visiting, will meet 125 Pakistani companies 

ISLAMABAD: Pakistani and Saudi Arabia will hold business-to-business talks today, Tuesday, as part of a Pakistan-Saudi Arabia investment conference being held in Islamabad amid a push by the South Asian nation to secure foreign financing. 

A 50-member delegation led by the Kingdom’s Assistant Minister of Investment Ibrahim Al-Mubarak arrived in Pakistan on Sunday to attend a two-day investment conference, with representatives of some 30 Saudi firms from the fields of IT, telecom, energy, aviation, construction, mining, agriculture and human resource development, among others. 

The conference comes as Pakistan and Saudi Arabia have been working closely to increase bilateral trade and investment deals after Pakistani Prime Minister Shehbaz Sharif met Saudi Crown Prince Mohammed bin Salman last month and the two leaders reaffirmed a commitment to expedite a previously discussed investment package of $5 billion.

Since then there have been a flurry of meetings and high-level visits, including of the Saudi foreign minister to Pakistan and of Sharif for a second time to Riyadh followed by the Saudi business delegation’s ongoing visit to Islamabad. 

“B2B [business to business] interactions have been most productive,” Sharif said in his address at a dinner hosted for the Saudi delegates on Monday evening. 

“I want to make it very clear that it is not the business of the government to do business. Our job is to offer policy frameworks. Our job is to act as a catalyst to make things happen and remove hurdles in the way for speedy achievement of our targets.”

At a press conference in Islamabad on Monday, Petroleum Minister Dr. Musadik Malik said 125 Pakistani companies would be meeting and negotiating with the Saudi companies who were visiting Islamabad.

“First, there were government-to-government agreements during the visit of the Saudi foreign minister [last month] and now there will be business-to-business agreements,” he said. “To facilitate the visiting Saudi companies, the Pakistani commerce ministry has affiliated one focal person with each Saudi company.”

INVESTMENT PUSH

The Saudi business delegation’s visit comes on the heels of one by Sharif to Riyadh from Apr. 27-30 to attend a special two-day meeting of the World Economic Forum (WEF). 

On the sidelines of the WEF conference, the Pakistani PM met and discussed bilateral investment and economic partnerships with the crown prince and the Saudi ministers of finance, industries, investment, energy, climate, and economy and planning, the adviser of the Saudi-Pakistan Supreme Coordination Council and the presidents of the Saudi central bank and Islamic Development Bank.

This was Sharif’s second meeting with the crown prince in a month. Before that, he also met him when he traveled to the Kingdom on April 6-8. The Saudi foreign minister was also in Pakistan last month, a trip during which Pakistan pitched projects worth at least $20 billion to Riyadh, according to the Pakistani foreign ministry.

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 a top source of remittances to the cash-strapped South Asian country.

Cash-strapped Pakistan desperately requires foreign investment as it tries to navigate an economic crisis that has resulted in a chronic balance of payments crisis. 

The South Asian country is also in talks with the International Monetary Fund (IMF) for a new bailout deal, for which it needs to signal that it can continue to meet requirements for foreign financing which has been a key demand in previous loan packages.


Imran Khan’s party seeks ‘confidence-building measures’ after government’s talks offer

Updated 03 January 2026
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Imran Khan’s party seeks ‘confidence-building measures’ after government’s talks offer

  • PTI says access to jailed founding leader essential for talks to be considered credible
  • Government says it’s ready for dialogue but nothing will happen until Khan favors the idea

ISLAMABAD: Pakistan’s jailed former prime minister Imran Khan’s party said on Saturday it would only consider the government’s offer for talks credible if it is accompanied by “concrete confidence-building measures,” such as unhindered access to its founding leader in a high-security prison in Rawalpindi.

Last month, Prime Minister Shehbaz Sharif said the government was fully prepared to hold a dialogue with Khan’s Pakistan Tehreek-e-Insaf (PTI) party to address political polarization that has deepened since the downfall of the PTI administration in a parliamentary no-confidence vote in 2022.

PTI has frequently complained about a state crackdown against its top leadership, including Khan and his wife, who are serving prison sentences in multiple cases ranging from corruption charges to inciting violence against state institutions and attacks on government properties.

Sharif’s offer for talks came amid media reports that PTI wanted a dialogue with the government, though he noted that negotiations would not be allowed to proceed on the basis of “blackmailing” or unlawful demands and would only cater to legitimate issues.

“Announcements of talks, without concrete confidence-building measures, cannot be treated as credible progress,” Azhar Leghari, PTI’s central deputy information secretary, told Arab News.

He recalled that Khan had authorized Mahmood Khan Achakzai and Allama Raja Nasir Abbas to carry forward with the dialogue process, adding that talks “require trust, and trust cannot be built at the cost of constitutional rights or democratic legitimacy.”

“For dialogue to be meaningful, it is essential that these authorized representatives are allowed regular and unhindered access to Imran Khan so that any engagement accurately reflects his views and PTI’s collective position,” he added.

Khan’s family, party and legal team have complained in the past they are stopped by the authorities from meeting the ex-PM in prison. Last month, they also raised concerns about his health, prompting the officials to allow one of his sisters to meet him, who said he was fine.

Shortly thereafter, a scathing message was posted on his social media account, criticizing the army chief. Khan’s post elicited a bitter response from the government and the military amid accusations of inciting people against state institutions.

Leghari’s comments came only a day after Rana Sanaullah, adviser to Prime Minister Sharif on political affairs, said PTI’s “second- or third-tier leadership” wanted dialogue, but nothing was going to happen until Khan favored these negotiations.

He also maintained that while the government was ready for talks, “uncertainty and delays from PTI are preventing progress.”

Meanwhile, a newly formed National Dialogue Committee of former PTI leaders told Arab News it had organized a session on Wednesday, January 7, in the federal capital that will bring together all major political parties, journalists, lawyers and representatives of civil society.

“Our goal is to bring political leaders together so that, while discussing their own issues, they can collectively seek solutions to the nation’s challenges,” Mahmood Baqi Moulvi, a Pakistani politician and member of the committee, said.

“The initiative also builds on previous efforts, including a letter to the prime minister requesting confidence-building measures to enable talks with PTI,” he added.

The National Dialogue Committee had urged the government in the letter to grant parole to jailed party figures in Lahore, including former foreign minister Shah Mahmood Qureshi and Dr. Yasmin Rashid, describing the move as vital for building trust ahead of negotiations.

It had also maintained such a step “would not only create an extremely positive, conducive, and trust-filled environment for the negotiations but would also lay a strong foundation for restoring mutual confidence among all stakeholders.”

While the government has also offered dialogue in the past, PTI leaders have conditioned participation on substantive measures, including what they describe as an end to politically motivated prosecutions and arrests, restoration of fundamental rights, respect for judicial independence and a credible roadmap toward free and fair elections.

“Reconciliation is possible, but it must be based on correcting injustices rather than managing optics,” Leghari said. “A genuine reset requires restoring respect for the Constitution, ending political victimization and allowing democratic processes to function without interference.”

Rana Sanaullah and Deputy Law Minister Barrister Aqeel Malik did not respond to requests for comment.