Saudi crown prince invites Pakistan PM to ‘Davos in the Desert’ investment forum

Pakistan Prime Minister Shehbaz Sharif speaks during a meeting with Saudi Ambassador Nawaf bin Said Al-Malki at the Prime Minister’s Office in Islamabad on August 9, 2025. (Handout/PMO)
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Updated 10 August 2025
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Saudi crown prince invites Pakistan PM to ‘Davos in the Desert’ investment forum

  • Future Investment Initiative in Riyadh gathers global leaders each year to discuss pressing world issues
  • Saudi Arabia has boosted Pakistan’s reserves with large deposits and signed $2.8 billion in deals in 2024

ISLAMABAD: Saudi Crown Prince Mohammed bin Salman on Saturday invited Prime Minister Shehbaz Sharif to attend the ninth Future Investment Initiative (FII) Forum, the annual investment gathering often dubbed “Davos in the Desert.”

The FII brings together global policymakers, investors, entrepreneurs and innovators to explore investment trends, emerging technologies and global economic strategies in line with Saudi Arabia’s Vision 2030.

Sharif attended the event in Riyadh last October during a two-day official visit, engaging with Saudi leadership and participating in high-level discussions on economic and strategic cooperation.

“Amb. Nawaf bin Said Al-Malki, Ambassador of the Kingdom of Saudi Arabia, called on the Prime Minister at the Prime Minister House earlier today,” Sharif’s office said in a statement after the meeting.

“The Ambassador handed over to the Prime Minister a signed invitation letter from His Royal Highness Crown Prince Mohammed bin Salman bin Abdul Aziz Al Saud to participate in the ninth Future Investment Initiatives (FII) Forum to be held in Riyadh from 27-30 October, 2025.”




Saudi Ambassador Nawaf bin Said Al-Malki presenting PM Sharif an invitation from Crown Prince Mohammed bin Salman to attend the ninth Future Investment Initiative Forum in Riyadh this October. (Handout/PMO)

Upon accepting the invitation, Sharif conveyed warm greetings and respect to both King Salman bin Abdul Aziz as well as to the Saudi crown prince.

The prime minister also discussed recent regional developments in what the statement described as a warm and cordial atmosphere.




Saudi Ambassador Nawaf bin Said Al-Malki speaks during a meeting with PM Sharif at the Prime Minister’s Office in Islamabad on August 9, 2025. (Handout/PMO)

Pakistan and Saudi Arabia enjoy close ties, with Riyadh bolstering Islamabad’s foreign currency reserves in recent years by depositing money into Pakistan’s central bank.

The support helped unlock International Monetary Fund (IMF) bailout packages and stabilize the South Asian country’s external finances.

During Sharif’s visit to the kingdom in October 2024, the two nations signed 34 memoranda of understanding worth $2.8 billion, seven of which have since been converted into agreements valued at $560 million.


Sindh chief minister pledges compensation within two months after Karachi plaza fire

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Sindh chief minister pledges compensation within two months after Karachi plaza fire

  • Murad Ali Shah says government is working with Karachi chamber to help shopkeepers restart businesses
  • January fire that killed at least 67 brought safety of Karachi’s commercial buildings under sharp focus

KARACHI: Sindh Chief Minister Murad Ali Shah said on Friday compensation for shopkeepers affected by last month’s deadly Gul Plaza shopping mall blaze would be released within two months amid calls for improved fire safety regulations to protect commercial buildings in Karachi.

The fire at Gul Plaza in January killed at least 67 people and left more than 15 missing, triggering renewed criticism of lax enforcement of building codes and emergency preparedness in Pakistan’s largest city.

Authorities said the blaze spread rapidly through the multi-story commercial complex, complicating rescue efforts and raising questions about wiring, access routes and fire safety systems in older markets.

“The government in collaboration with the Karachi Chamber is actively working to help shopkeepers restart their businesses and aims to ensure that compensation is provided within two months so that the shopkeepers can buy inventories to restart their businesses,” the chief minister said while addressing the inauguration of the My Karachi Exhibition, an annual trade and consumer exhibition, according to an official statement.

He said temporary locations had been identified where shopkeepers could operate rent-free until reconstruction is completed, paying only basic maintenance costs.

Shah reiterated the Sindh administration’s commitment to provide Rs 10 million ($36,000) to the families of those who died in the fire, along with immediate relief of Rs 500,000 ($1,785) for affected shopkeepers.

He said Gul Plaza would be rebuilt within two years “in the same manner and with the same number of shops,” adding that the new structure would be safer and constructed “without a single square inch extra.”

Business leaders at the event called for stricter enforcement of fire safety standards across Karachi’s commercial districts, citing unregulated electrical wiring and poor compliance as recurring causes of deadly market fires.