ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb on Tuesday discussed trade and investment with his Saudi counterpart, Mohammed Aljadaan, during a meeting in the United States, according to an official statement.
The Pakistani minister is currently in Washington, DC, attending the annual meetings of the World Bank and the International Monetary Fund (IMF), where other global finance leaders have also gathered.
Last month, the IMF approved a fresh $7 billion bailout package for Pakistan after recognizing the government’s efforts to implement stringent economic reforms, saying they had contributed to gradual financial stability.
Saudi Arabia, along with other friendly nations such as China and the United Arab Emirates, played a key role in helping Pakistan secure the new IMF loan, which the Islamabad administration deemed essential for further macroeconomic stability.
“Finance Minister, Mr. Muhammad Aurangzeb, met with his Saudi counterpart, H.E. Mohammed Aljadaan, on the sidelines of the World Bank-IMF Annual Meetings in Washington DC,” the Finance Division announced. “Appreciating the historical, fraternal bonds between Pakistan and the Kingdom of Saudi Arabia, the two Ministers resolved to further deepen mutually beneficial economic ties, enhance bilateral trade, and facilitate investments in key sectors.”
“The Saudi Minister also shared his experience of reforms in the energy sector,” the statement continued. “Both sides agreed to advance cooperation in areas of mutual interest.”
Pakistan has actively sought to attract foreign investment while aiming to boost trade with its allies.
In 2023, the government established the Special Investment Facilitation Council (SIFC), a civil-military hybrid body designed to streamline and facilitate foreign business operations, particularly targeting investment from Gulf states.
Alongside these efforts, Pakistan has expressed interest in exporting a larger pool of human resources to the region, enhancing its workforce contribution to the Gulf economies.
Additionally, the country is keen on developing partnerships across various economic sectors, including infrastructure, energy, mining and agriculture, to promote sustainable growth and economic cooperation with its allies.
Pakistan’s finance chief discusses trade, investment with Saudi counterpart in Washington
https://arab.news/4c3xy
Pakistan’s finance chief discusses trade, investment with Saudi counterpart in Washington
- Saudi minister shares kingdom’s energy sector reform experience with Muhammad Aurangzeb
- The officials from both countries agreed to advance cooperation in areas of mutual interest
Curfew extended in Gilgit-Baltistan, probe ordered after deadly Khamenei protests
- At least 15 people were killed in clashes with law enforcement agencies over the weekend in Gilgit-Baltistan
- Government also announces a de-weaponization campaign, crackdown on hate speech and cybercrime in region
ISLAMABAD: The government in Pakistan’s Gilgit-Baltistan (GB) region on Tuesday extended a curfew in Gilgit district and ordered a judicial probe into violent protests over the killing of Iranian Supreme Leader Ali Khamenei in US-Israeli strikes last week, an official said.
At least 15 people were killed in clashes with law enforcement agencies over the weekend in GB, where protesters torched and vandalized several buildings, including United Nations regional offices, an army-run school, software technology park and a local charity building.
The violence prompted regional authorities to impose curfew in Gilgit and Skardu districts on March 2-4 as officials urged people to stay indoors and cooperate with law enforcers, amid widespread anger in Pakistan, particularly among members of the Shiite minority, over Khamenei’s killing.
On Tuesday, the GB government convened to review the situation and announced the extension of curfew in Gilgit among a number of security measures as well as ordered the establishment of a judicial commission to investigate the weekend violence in the region.
“The government has made it clear that the law will strictly take its course against elements involved in vandalism at government institutions, private properties and incidents of vandalism in Gilgit and Skardu and no kind of mischief will be tolerated,” Shabbir Mir, a GB government spokesperson, said in a statement.
“In view of the security situation, curfew will remain in force in Gilgit, while the decision to extend the curfew in Skardu will be taken keeping the ground realities and the changing situation in view.”
The statement did not specify how long the curfew will remain in place in Gilgit.
Besides the formation of the judicial commission to investigate the violent clashes, the government also decided to launch a large-scale de-weaponization campaign in the entire Gilgit district, for which relevant institutions have been directed to immediately complete all necessary arrangements, according to Mir.
In addition, a crackdown has been ordered on hate speech, spread of fake news and cybercrime.
“The aim of these decisions is to ensure the rule of law, protect the lives and property of citizens and crack down on miscreants,” he said. “Approval has also been given to immediately survey the affected infrastructure and start their restoration work on priority basis.”
Demonstrators in Pakistan’s southern port city of Karachi also stormed the US Consulate on Sunday, smashing windows and attempting to burn the building. Police responded with batons, tear gas, and gunfire, leaving 10 people dead and more than 50 injured.
Pakistani authorities have since beefed up security at US diplomatic missions across the country, including around the US consulate building in Peshawar, to avoid any further violence.
