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
‘Fully stand with Bangladesh’: Pakistan PM backs decision to boycott India match
- Pakistan’s government have not allowed the national cricket team to play its World Cup match against India on Feb. 15
- Pakistan has accused India of influencing ICC decisions, criticized global cricket body for replacing Bangladesh in World Cup
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday backed his government’s decision to bar the national men’s cricket team from playing against India in the upcoming T20 World Cup tournament, reaffirming support for Bangladesh.
Pakistan’s government announced on social media platform X last week that it has allowed its national team to travel to Sri Lanka for the World Cup. However, it said the Green Shirts will not take the field against India on their scheduled match on Feb. 15.
Pakistan’s participation in the tournament was thrown into doubt after Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi criticized the International Cricket Council (ICC) for replacing Bangladesh with Scotland. The decision was taken after Bangladesh said it would not let its team travel to India out of security concerns.
During a meeting of the federal cabinet, Sharif highlighted that Pakistan has said that politics should be kept away from sports.
“We have taken this stand after careful consideration and in this regard, we should stand fully with Bangladesh,” Sharif said in televised remarks.
“And I believe this is a very reasonable decision.”
Pakistan has blamed India for influencing the ICC’s decisions. The global cricket governing body is currently led by Jay Shah, the head of the Board of Control for Cricket in India. Shah is the son of Indian Home Minister Amit Shah.
Pakistan’s boycott announcement has triggered media frenzy worldwide, with several Indian cricket experts and analysts criticizing Islamabad for the decision. An India-Pakistan cricket contest is by far the most lucrative and eagerly watched match of any ICC tournament.
The ICC has ensured that the two rivals and Asian cricket giants are always in the same group of any ICC event since 2012 to capitalize on the high-stakes game.
The two teams have played each other at neutral venues over the past several years, as bilateral cricket remains suspended between them since 2013 due to political tensions.
Those tensions have persisted since the two nuclear-armed nations engaged in the worst fighting between them since 1999 in May 2025, after India blamed Pakistan for an attack in Indian-administered Kashmir that killed tourists.
Pakistan denied India’s allegations that it was involved in the attack, calling for a credible probe into the incident.
