ISLAMABAD: Prime Minister Shehbaz Sharif said on Tuesday the Saudi Fund for Development (SFD) had approved a $40 million grant to build the King Salman Hospital in Pakistan’s northwestern Khyber Pakhtunkhwa province.
The announcement comes a day after Pakistan signed an agreement with SFD to defer by one year a $1.2 billion payment on the country’s oil imports.
SFD has supported more than 40 projects and programs valued at approximately $1.4 billion to finance energy, water, transportation and infrastructure projects in Pakistan since the Fund’s establishment in 1975.
“There are other SFD projects like the King Salman Hospital with an investment of $40 million” Sharif said while addressing a federal cabinet meeting in which he thanked Saudi authorities for approving the $1.2 billion oil facility. “These are grants and the hospital will be fully built with this in Hazara [district].”
The Saudi facility to defer oil payments can help Islamabad boost its foreign reserves ahead of the first review of a $7 billion International Monetary Fund (IMF) bailout, due in March. The agreement comes as Pakistan continues to navigate a tricky economic recovery path and implement tough conditions attached to the IMF loan program.
“Our brother Crown Prince Mohammed bin Salman sent a delegation yesterday [Feb. 4] and our oil facility which was for 10 months in 2023 ended in December 2023,” Sharif added. “Now, it has been renewed and they have provided us with $1.2 billion annually for our oil facility.”
On Monday, Pakistan also finalized a loan agreement for a Gravity Flow Water Supply Scheme in the Mansehra district of KP under which the SFD will provide $41 million to enhance access to clean drinking water for at least 150,000 people, according to Sharif’s office.
The SFD has also proposed a partnership with the Pakistan government to offer training programs for young Pakistanis and impart “modern and relevant” skills to help them meet labor market demands in Saudi Arabia.
Pakistanis constitute one of the largest migrant communities in Saudi Arabia with an estimated 2.64 million working there as of 2023. While 97 percent of them are blue-collar workers, there is a growing demand for skilled labor in the Kingdom as it seeks to modernize its economy under the Vision 2030 scheme.
Saudi Fund for Development approves grant for King Salman Hospital in Pakistan — PM
https://arab.news/5zjrd
Saudi Fund for Development approves grant for King Salman Hospital in Pakistan — PM
- Project will be built in Hazara district with SFD grant of $40 million
- Riyadh also approves $1.2 billion oil deferred oil payment facility
’All the pressure’ on Pakistan as USA out to inflict another T20 shock
- USA gave tournament favorites India a big scare in their opening match in Mumbai
- Pakistan cannot afford any slip-ups after saying they would not play India on Feb. 15
COLOMBO: USA leg-spinner Mohammad Mohsin said Monday that “the pressure will be on Pakistan” when the teams lock horns in the T20 World Cup again, two years after the Americans inflicted a shock defeat on the former champions.
But Pakistan quick bowler Salman Mirza insisted the stunning super over defeat in Dallas in the 2024 T20 World Cup would be firmly “in the past” when the two clash in Colombo on Tuesday.
The USA team gave tournament favorites India a big scare in their opening match in Mumbai, reducing them to 77-6 at one point, with Mohsin taking a wicket on his T20 World Cup debut, before losing by 29 runs.
They are confident they can repeat their stunning upset of two years ago in the Group A encounter.
“The pressure of losing the last game will be on Pakistan,” said Mohsin.
Born and brought up playing cricket in Pakistan, Mohsin migrated to the US five years ago and warned the USA were a better team now than two years ago.
“I have played with most of the players in this Pakistan team, so I have given my input to the team and we are a more skilled and confident team.”
Mirza was confident the last defeat will not prey on the Pakistan players’ minds.
“Winning and losing are part of the game, it happens in cricket,” Mirza said. “The defeat against the USA is now past and behind us.”
Pakistan, the 2009 champions, were close to suffering another shock in their opening match against the Netherlands on Saturday.
Pakistan were staring at defeat with 29 runs needed in the last two overs but all-rounder Faheem Ashraf’s big hitting bailed them out.
Pakistan cannot afford any slip-ups if they are to qualify for the super eight stage as one of the top two teams in Group A after saying they would not play India on February 15.
Defeat to the USA two years ago saw them fail to get out of the group.
Mirza admitted the smaller teams were dangerous opponents.
“Until now all the matches are close and no team is small or big in this format,” said Mirza, who took 3-24 against the Netherlands.
Pakistan may bring back experienced batsman Fakhar Zaman to replace Babar Azam who has been criticized for slow scoring.
