ISLAMABAD: Pakistani tech companies participating in the four-day LEAP 2025 tech conference in Riyadh are hopeful of attracting business deals worth $50 million at the global tech event, the head of Pakistani software producers’ association said on Sunday.
The fourth edition of LEAP, recognized as Saudi Arabia’s award-winning global technology event, opened on Sunday and will continue till Feb. 12, for which entrepreneurs, investors and startups have converged in Riyadh to present their products to an anticipated audience of over 170,000 visitors. It follows last year’s record-breaking LEAP 2024, which saw $13.4 billion in investments and project commitments. Under the theme “Into New Worlds,” LEAP 2025 aims to expand business networking and investment opportunities in the tech sector.
Pakistan recorded the highest-ever monthly IT exports of $348 million in Dec. 2024, up by 15 percent year-on-year and 12 percent month-on-month, according to official data. The LEAP event offers Pakistani firms a platform to collaborate with stakeholders, explore business opportunities and showcase Pakistan’s diverse IT exports, including software development, artificial intelligence (AI), blockchain, fintech, gaming and robotics.
“This year, we have one of the largest delegations ever at LEAP, with over 100 companies and more than 1,000 delegates participating,” Sajjad Mustafa Syed, chairman of the Pakistan Software Houses Association (P@SHA), told Arab News over the phone from Riyadh.
“With this strong presence at LEAP, we expect to double our business this year and generate $50 million in deals.”
Pakistani IT companies continue to maintain a strong presence in the Kingdom and this year some of the biggest names, including Systems Limited, Abacus and Excellence Delivered, are participating in the mega tech event, according to the P@SHA chairman.
In addition, several startups, around 20 companies sponsored by P@SHA, and a few more sponsored by the Pakistan Software Export Board (PSEB) are attending the event, while some Pakistani firms have joined independently.
Syed said Saudi investors “responded positively” to Pakistani companies during a meeting of the Pakistan-Saudi Business Forum that was held ahead of the LEAP inauguration.
“There is growing excitement about Pakistan’s IT industry, which has now firmly arrived on the global stage,” he said. “We are no longer at the startup or entry level rather we are now a recognized force in the global tech landscape, and this recognition is evident in Saudi Arabia.”
Syed said Pakistan’s tech solutions were “at par with the best in the world, if not superior.”
“Our companies are making strides in high-tech sectors such as artificial intelligence and cybersecurity,” he added.
Former P@SHA chairman Muhammad Zohaib Khan, whose e-solutions company A2Z Creatorz is participating in LEAP, said the event has enabled many Pakistani firms to establish businesses in the Kingdom over the past few years.
“Our participation in LEAP 2024 was a huge success as around 25 Pakistani companies registered in the Kingdom after that and secured some good business deals,” he told Arab News.
“This year, we hope more companies will have the opportunity to register in the Kingdom through collaborations with Saudi firms and secure significant business by establishing offices in Saudi Arabia.”
Pakistan’s ambassador to Saudi Arabia, Ahmad Farooq, said the LEAP conference has developed into one of the foremost global IT events since 2022.
“The participation of over 100 Pakistani IT companies at LEAP 2025 is a testament to Pakistan’s growing strength in the global technology sector,” he said.
He said the Pakistani IT industry is offering cutting-edge solutions in AI, cloud computing, cybersecurity and software development, making Pakistan a key player in digital transformation.
“To further strengthen collaboration and engagement, I had the pleasure of hosting a networking dinner in Riyadh on February 8, bringing together over 400 distinguished guests, including business leaders, investors, and technology experts,” he said, adding that Saudi Arabia’s Vision 2030 presents immense opportunities and Pakistan is committed to fostering deeper cooperation through innovation in the region.
The LEAP tech conference plays a critical role in Saudi Arabia’s ambition to become a global technology hub, aligning with its Vision 2030 plan to diversify the economy. As part of the initiative, the Kingdom has pledged $100 billion toward advancing its technology sector.
LEAP 2025 will debut Tech Arena, a platform for emerging innovations, featuring a ‘Live TV’ stage hosted by BBC Click’s Lara Lewington and Spencer Kelly. It is one of two new segments at LEAP 2025, alongside the SportsTech stage, supporting Saudi Arabia’s Vision 2030 for innovation and technological growth.
Visitors will explore AI, mixed reality, fashion tech, and brain-computer interfaces. Key highlights include Anouk Wipprecht’s Tech Couture exhibit, Adobe’s ‘Project Primrose’ digital dress technology, and Aramco-backed Terra Drone’s long-range medical delivery system. Saudi oil giant Aramco will also showcase SARA, an AI-driven assistant for decision-making. Engine VR will present its Golden Gloves VR boxing platform with live demos by UFC fighter Andrew Sanchez, while Alwaleed Philanthropies will showcase its Atlai AI program to support global deforestation monitoring. XPANCEO will introduce smart contact lenses with integrated computing.
Pakistani firms eye $50 million business deals at LEAP 2025 tech conference in Riyadh
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Pakistani firms eye $50 million business deals at LEAP 2025 tech conference in Riyadh

- The fourth edition of the LEAP conference aims to expand business networking and investment opportunities in the global tech sector
- Pakistan has the largest ever presence at LEAP this year, with over 100 companies and 1,000 delegates featuring innovative solutions
PM Sharif hails investor confidence as Pakistan Stock Exchange crosses 119,000 points

- KSE-100 index soared by over 1,400 points after trading commenced, hitting an all-time high of 119,421.81
- Shehbaz Sharif says his government is trying to ensure conducive business and investment environment
ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday lauded the Pakistan Stock Exchange (PSX) for surpassing the significant 119,000-point threshold for the first time, saying the market’s bullish opening session mirrored growing investor confidence.
The benchmark KSE-100 index soared by over 1,400 points shortly after trading commenced, reaching an all-time high of 119,421.81 points.
The market rally coincides with Sharif’s four-day visit to Saudi Arabia, where he met separately with Crown Prince Mohammed bin Salman and Investment Minister Khalid Al-Falih to discuss strengthening economic cooperation.
“The positive trajectory in the Pakistan Stock Exchange signifies the increasing trust of traders and investors in the government’s economic policies,” the prime minister said in a statement issued by his office from Jeddah.
“The government is providing all necessary facilities on a priority basis to ensure a conducive environment for business and investment in the country,” he added.
Earlier this month, an International Monetary Fund (IMF) team concluded its review of Pakistan’s economic reforms under a $7 billion loan program.
The international lender described Pakistan’s progress as “strong,” though its mission departed without finalizing the staff-level agreement.
The IMF’s positive assessment, nevertheless, led to bullish sentiment in the market, despite recent upticks in militant violence.
The ongoing PSX session saw the KSE-100 index dip below its earlier high, trading at 118,526.63 points at the time of filing this report.
UK lists former Pakistan PM’s son as ‘deliberate tax defaulter’ over £9.4 million unpaid dues

- Hasan Nawaz, identified as property developer, has been fined £5.2 million over unpaid taxes
- He was previously declared bankrupt by the High Court of Justice in London in a 2024 case
ISLAMABAD: The United Kingdom’s tax authority listed Hasan Nawaz, son of Pakistan’s three-time former Prime Minister Nawaz Sharif, as a “deliberate tax defaulter” this week, imposing a penalty of £5.2 million on unpaid taxes totaling £9.4 million.
According to details, Hasan Nawaz, identified as property developer, failed to pay the amount between April 6, 2015, and April 5, 2016. The list ranks him as the second-highest defaulter.
In the UK, a “deliberate tax defaulter” is an individual or business that has intentionally evaded taxes or made false declarations to underpay their tax liabilities. Under the rules, those who owe more than £25,000 in tax and have received penalties for deliberate default can have their names published on the list of deliberate tax defaulters.
“Amounts in the list relate to the tax/duty on which penalties are based and the penalties charged, where the penalty meets the criteria for publishing under the Publishing Details of Deliberate Defaulters legislation,” His Majesty’s Revenue and Customs, responsible for enforcing tax laws, inscribed at the outset of the document. “The list does not necessarily represent the full default of the taxpayer.”
Nawaz Sharif and his family have long faced corruption allegations, including the Panama Papers case, which led to his disqualification as prime minister in 2017. While he has denied such charges against him in the past, the revelation that his son has defaulted on millions in UK taxes revives concerns about financial impropriety and hidden wealth.
In 2024, Hasan Nawaz was declared bankrupt by the High Court of Justice in London following a petition filed by HMRC over unpaid liabilities.
HMRC regularly publishes a list of tax defaulters, updating it quarterly to include individuals and businesses penalized for deliberate tax defaults.
Pakistan March inflation to drop below 1% — market analysis

- Topline Pakistan Research says the decline may mark the lowest level in over three decades
- The research firm cautions any major deviation in commodity prices will impact the inflation rate
ISLAMABAD: A Pakistani market research organization on Wednesday estimated a further decline in inflation in the ongoing month, projecting it to fall below 1%, marking the lowest monthly year-on-year (YoY) reading in over three decades.
Topline Pakistan Research, a division of Topline Securities, a prominent brokerage house in Pakistan, gathers and analyzes market data along with consumer behavior and socio-economic indicators.
In recent years, Pakistan has grappled with high inflation, with consumer prices reaching a record 38% in May 2023. However, subsequent monetary policy measures and a series of economic reforms led to a substantial decline, bringing the annual inflation rate down to 1.5% in February 2025.
“Pakistan’s Consumer Price Index (CPI) for Mar 2025 is expected to bottom out and clock in at 0.5-1.0% YoY (+0.9 percent MoM), lowest monthly YoY reading in over 3 decades, taking 9MFY25 average to 5.38% compared to 27.06% in 9MFY24,” Topline Pakistan Research stated in its estimate.
It noted the anticipated decline in March 2025’s CPI was likely to follow a 2.3% reduction in electricity prices, resulting from a higher fuel cost adjustment of Rs2 per kilowatt hour (kWh) compared to Rs1/kWh in the previous month.
The transport segment index is also expected to decrease by 0.7% month-on-month, owing to a decline in diesel and petrol prices by an average of 2%.
Given these developments, Topline Pakistan Research said it was also revising its inflation forecast for fiscal year 2025 downward from 6-7% to 5-6%.
With the expected inflation rate of less than 1 percent for March 2025, the research organization said the real interest rates will be significantly higher than Pakistan’s historic average of 200-300 basis points, standing at 1,100-1,150 basis points. However, based on fiscal year 2026 inflation estimates of 8-9%, real rates are projected to be 300-400 basis points positive.
Topline Pakistan Research also cautioned any major deviation in commodity rates from current levels, especially fuel prices, could result in change in inflation estimates.
Pakistani drama breaks silence on blasphemy killings

- Hum Network’s 11-part television drama began airing in December, handling the taboo topic with sensitivity
- Producer Sultana Siddiqui calls it her duty to ‘raise awareness about crucial social issues’ that impact society
KARACHI: An axe-wielding mob chases a terrified group; a daring Pakistani television drama has for the first time tackled the deeply sensitive issue of the dozens murdered for alleged blasphemy.
Islam is the official religion in Muslim-majority Pakistan, and accusations of insulting religious sentiments can easily incite mob violence.
Blasphemy is an incendiary charge, and the issue is rarely discussed by major media broadcasters due to security concerns.
But producer Sultana Siddiqui challenged that with an 11-part television drama, which has earned praise since it began airing in December for handling a taboo topic with sensitivity.
“This issue has not been raised before because of fear,” Siddiqui, founder of the Hum Network media company, told AFP.
Her drama “Tan Man Neelo Neel,” or “Bruises on Body and Soul,” tells the stories of people in a small Pakistani town, and has generated millions of views and widespread praise on social media.
“I took the risk in a careful manner,” she said. “That’s why people appreciated it.”

In the drama, the case of blasphemy centers around a character who falsely claims a dance performance takes place in a mosque, rather than the abandoned mansion it happened in.
That storyline of false allegations is an echo of reality.
Pakistan’s independent Human Rights Commission, in a report last month, described the “impunity for perpetrators of hate and violence.”
It detailed cases of people killed, and followers and places of worship of Pakistan’s minority religions, including Christians and Hindus, being attacked over false claims.
“Law enforcement... have often failed to rescue blasphemy suspects from vigilante violence,” the commission said.
“A careful examination of various blasphemy allegations shows that these are invariably based on fabrications, malicious disinformation and fake news.”
Siddiqui said she was motivated by a 2017 case in the city of Mardan when a mob beat 23-year-old journalism student Mashal Khan to death after accusing him of posting blasphemous content online.
“I couldn’t sleep after hearing Mashal’s mother say that ‘not a single bone in his body was left unbroken — even his finger bones were fractured,’” she said.
“I kept wondering: How brutally must they have beaten him?“

Mohammad Iqbal, the murdered student’s father, said that the producer had chosen the “right topic” and had “honored his son.”
“We, those most affected, have rarely spoken about it publicly,” he told AFP.
“At last, this conversation is happening on television.”
Siddiqui said she had long wanted to address the issue and had been carefully collaborating with fellow directors and writers to address the subject matter appropriately.
“I, too, fear extremists who might not like me and could harm me,” she said.
“However, I believe we should address these issues with them in a respectful manner.”
Siddiqui said it was her “duty to educate people” and “raise awareness about crucial social issues” that impact society.
Pakistani dramas boast a massive viewership and their popularity serves as a powerful vehicle for social change.
A Gallup survey conducted in October 2023 suggested that two-fifths of the country watch dramas.
“We should have spoken about such issues much earlier,” said Mustafa Afridi, the writer of the show.
“If we had, perhaps we wouldn’t be in this situation today, perhaps our children wouldn’t be dying.”

Pakistan’s media industry has been wary of the topic — and fallen foul in the past of accusations of creating blasphemous content.
The release of the 2019 award-winning film “Zindagi Tamasha,” or “Circus of Life,” was halted after the Islamist party Tehreek-e-Labaik Pakistan (TLP) objected to its portrayal of a cleric they deemed “blasphemous.”
In 2020, a music video shot at Lahore’s Wazir Khan mosque sparked furious protests after singer Bilal Saeed was filmed dancing with actor Saba Qamar.
Police filed a case against them, and they apologized — and were eventually acquitted two years later.
Arafat Mazhar, the director of the Alliance Against Blasphemy Politics group, said Siddiqui’s show had “sparked a viral critique of blasphemy-related mob violence.”
He called the reaction “unprecedented.”
“It wasn’t just that people were watching a drama about mob violence — it was that the conversation centered on mob violence at such a large scale for the first time,” he told AFP.
“The battle against blasphemy violence is not just about speaking out against mob killings. It is about challenging the structures that create and sustain them.”
Pakistani PM meets Saudi crown prince, discusses economic ties, security cooperation

- Sharif’s visit comes at a time when Islamabad is seeking to strengthen trade and investment ties with friendly nations
- Riyadh has promised Islamabad a $5 billion investment package that cash-strapped Pakistan desperately needs
ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif met Saudi Crown Prince Mohammed bin Salman today, Thursday, and discussed cooperation in the economic, trade, investment, energy and defense sectors, the premier’s office said in a statement.
Sharif’s four-day visit to the Kingdom comes as Islamabad seeks to strengthen trade and investment ties with friendly nations. Riyadh in particular has promised a $5 billion investment package that cash-strapped Pakistan desperately needs to shore up its dwindling foreign reserves and fight a chronic balance of payment crisis.
Islamabad and Riyadh signed 34 memorandums of understanding and agreements worth $2.8 billion last year to enhance private sector collaboration and commercial partnerships. The two nations are also in “advanced” talks relating to investment in the Reko Diq copper and gold mine, one of the world’s largest underdeveloped copper-gold areas, as per Pakistani officials.
In October last year, Saudi Investment Minister Khalid Al-Falih announced the Kingdom planned to allocate a significant portion of its $200 billion annual construction and material procurement contracts to Pakistan. Last month, Pakistan also signed an agreement with the Saudi Fund for Development to defer by one year a $1.2 billion payment on the country’s oil imports.
“The meeting reaffirmed the strong and historic ties between Pakistan and Saudi Arabia, with discussions focused on enhancing cooperation in economic, trade, investment, energy and defense sectors,” Sharif’s office said in a statement after he met the Saudi crown prince.
“The Prime Minister appreciated the Kingdom’s commitment to increasing investments in key sectors, which will contribute to Pakistan’s economic growth and stability.”

The statement said both sides reaffirmed their commitment to strengthening defense and security cooperation as well, “recognizing the importance of collaborative efforts in addressing regional security challenges.”
They also discussed the “evolving regional situation as well as geopolitical landscape” and agreed to work closely at all levels to promote a “shared vision for peace, stability and prosperity in the region.”
“Both the leaders emphasized the need to further strengthen people-to-people ties, cultural exchanges, and educational collaboration,” the statement concluded.
Separately, Sharif also met Saudi Investment Minister Khalid Al-Falih and Mohammad Al-Tuwaijri, the head of the Joint Task Force for Economic Engagement. The discussions focused on strengthening economic cooperation, attracting Saudi investments and expediting joint initiatives in key sectors.

“The PM reaffirmed Pakistan’s commitment to facilitating Saudi investors, highlighting the country’s strategic position and investment-friendly policies,” the PM’s office said. “He emphasized Pakistan’s vast potential in energy, infrastructure, agriculture and technology, inviting Saudi businesses to explore opportunities under the Special Investment Facilitation Council.”
The two sides also discussed enhancing institutional collaboration to accelerate investment projects and ensure smooth implementation and strengthening the Pakistan-Saudi economic partnership through “structured engagements and swift execution of joint projects.”
Pakistan and Saudi Arabia enjoy strong trade, defense and cultural ties. Petroleum products mostly from Saudi Arabia make the major chuck of Pakistan’s import bill. The Kingdom is also home to more than two million Pakistani expatriates and serves as the top source of remittances.