Saudi businesses eye opportunities with $2 billion in deals amid Pakistan’s economic upturn

Short Url
Updated 11 October 2024
Follow

Saudi businesses eye opportunities with $2 billion in deals amid Pakistan’s economic upturn

Saudi businesses eye opportunities with $2 billion in deals amid Pakistan’s economic upturn
  • A large Saudi delegation of companies specializing in energy, mining and industry is currently in Pakistan
  • Delegation says economic stability, improved regulations making Pakistan attractive investment destination

ISLAMABAD: Saudi businessmen expressed hope for successful collaborations in Pakistan on Thursday, saying the country’s economic stability and improved regulatory framework had made it an attractive investment destination, following the signing of over two dozen deals between companies from both countries.

The Kingdom’s Investment Minister Khalid bin Abdulaziz Al-Falih is currently in Pakistan on a three-day visit with a large delegation of over 130 members, including representatives from Saudi companies specializing in energy, mining, minerals, agriculture, business, tourism, industry and manpower.

The delegation on Thursday signed 27 agreements and memorandums of understanding (MoUs) worth more than $2 billion with several Pakistani companies.

“We saw much change in [Pakistan’s business] regulations which have become much softer,” Sultan Al Mansour, Chairman of All Care Medical Group, told Arab News, pointing out that Pakistan was gradually moving toward economic stability. “All that positive news is making Pakistan a good spot for investment.”

Last year in June, Pakistan constituted the Special Investment Facilitation Council (SIFC), a hybrid civil-military forum, to facilitate foreign businesses, particularly from Gulf countries.

The Saudi investor hoped for successful collaborations, saying his company had signed two deals with Pakistani businesses developing surgical instruments and operating in the pharmaceutical industry.

“Our [Pakistani] partners will be launching a factory in Saudi Arabia in the foreseeable future,” he informed, adding the South Asian state was rich in human resources and knowledge, and constituted a big market.

Al Mansour said he had collaborated with Hilbro, a Pakistani company that will supply surgical goods to his organization in the kingdom.

Hilbro’s sales and marketing director, Muhammad Bilal Tariq, said his company would initially supply semi-developed products before setting up a manufacturing unit of surgical goods in Saudi Arabia.

“We are planning to build the factory in Riyadh,” he told Arab News.




Pakistan Prime Minister Shehbaz Sharif meets Saudi delegation led by Investment Minister Khalid Bin Abdul Aziz Al Falih in Islamabad on October 10, 2024. (PMO)

Mohammad Almadani, Chief Executive Officer of Classera, one of the region’s largest e-learning ed-tech companies operating in over 40 countries, said his organization had supported numerous ministries of education, training institutions and governments globally to transform education and training.

“We have started a big project called eTaleem which aims to transform education using technology across this great nation [of Pakistan],” he said.

He informed that the first phase of operations had already started by partnering with Pakistan Telecommunication Company Ltd. (PTCL), adding it would use technology to transform education more rapidly and benefit the country’s youth.

“We are talking about 60 million students of Pakistan,” he said.

Almadani noted that human capital was a huge asset, pointing out his collaboration in Pakistan would help advance the country.

Mohammad Al-Hijji, Chairman of the Saudi investment company Engineering Dimension Holding, said it was a good time to join hands with Pakistani businesses due to the government’s investment-friendly policies.

“It is the right time and we are talking about the investment in our partnership with our brethren at Pakistani renewable energy company Welt Konnect, to invest in a 500-megawatt hybrid power project,” he told Arab News.

His Pakistani partner, Habeel Ahmed Khan, termed the collaboration a “great honor.”

“We signed an MoU with our brothers from ED Holding for the 500-megawatt project that we have been developing in the south of Pakistan, almost 45 minutes east of Karachi in the wind corridor of Gharo,” he said.

Sharing details, he said the project would produce about 168 megawatts of wind power and 332 megawatts of solar power.

“It’s going to be one of Pakistan’s first hybrid power projects, which will supply cheap electricity to the national grid,” Khan added.




Saudi Arabia’s Investment Minister Khalid bin Abdulaziz Al-Falih speaks during the inauguration of Pak-Saudi Business Forum 2024 in Islamabad on October 10, 2024. (Photo courtesy: Urdu News)

Ghassan Amodi, Chief Executive Officer of Asyad Holding Group, which is acquiring Shell operations in Pakistan, said the acquisition was part of their strategic plan to expand regionally.

“Our association with Shell is a longstanding relationship, and we look forward to further developing this beyond the borders of Saudi Arabia and now Pakistan. We are also looking for other opportunities,” he said.

Speaking to Arab News, Pakistan’s Petroleum Minister Dr. Musadik Malik said over 130 representatives of around 50 Saudi companies were part of the delegation, adding that many projects and collaborations had been finalized in the energy field during the visit.

“Two Saudi companies have flown into Pakistan, and they will be talking about the upgradation of an old refinery, which is about a billion-and-a-half-dollar project,” he said while informing that Pakistan also expected to finish the study on the greenfield refinery project by December.




Pakistan’s Petroleum Minister Dr. Musadik Malik speaks during the inauguration of Pak-Saudi Business Forum 2024 in Islamabad on October 10, 2024. (PID)

“Then the conversation will begin to move forward on the $7-10 billion project,” he continued.

Malik informed that once the Saudi delegation departs, the government would follow up on an almost weekly or fortnightly basis.

“It will be to see where those contracts are, how those relationships are evolving and if there’s any government-related trouble that we need to troubleshoot and remove,” he explained.


Pakistan begins Ramadan 2025 after Taraweeh prayers, suhoor meals

Pakistan begins Ramadan 2025 after Taraweeh prayers, suhoor meals
Updated 3 min 49 sec ago
Follow

Pakistan begins Ramadan 2025 after Taraweeh prayers, suhoor meals

Pakistan begins Ramadan 2025 after Taraweeh prayers, suhoor meals
  • Taraweeh is a non-obligatory night prayer offered across mosques worldwide during holy month of Ramadan 
  • Pakistan is a predominantly Muslim country where more than 90 percent of its over 240 million people practice Islam

ISLAMABAD: Pakistanis offered special Taraweeh prayers late last night and consumed pre-dawn suhoor meals across the nation, marking the beginning of the holy month of Ramadan from today, Sunday. 

Ramadan, the exact start date of which depends on the sighting of the new moon, began in Pakistan on Sunday, the first day of fasting, and a day after it started in most other parts of the world. 

Fasting in Ramadan, the ninth and the holiest month in the Islamic calendar, is one of the five pillars of Islam and this is the time of the year when religious fervor is rekindled throughout the Muslim world.

One of the significant features of Ramadan each year is the Taraweeh prayer, a non-obligatory night prayer during the holy month. Thousands across the country offered the Taraweeh prayers in well-lit mosques on Saturday night. 

“Today is the first day of Taraweeh,” Nadeem Aftab, a resident of Karachi, told Reuters on Saturday night. “We have to keep up this prayer the whole month with enthusiasm and should also invite others to this prayer every day.”

Others were busy buying items for the first suhoor meal or pre-dawn meal Muslims consume ahead of fasting. 

Vendors prepare Khajla, a traditional desert on the eve of the Islamic holy fasting month of Ramadan, at a shop in Karachi on March 1, 2025. (AFP)

Javed Ali Baloch was among several customers at a shop buying “pheni,” or fried vermicelli for suhoor. 

 “I am here to buy pheni, which is only available during Ramadan for suhoor, and people love to eat it,” he said. “I buy it for my family.”

Pakistan is a predominantly Muslim country where more than 90 percent of its over 240 million people practice Islam, and most of them fast during the holy month.

Prime Minister Shehbaz Sharif on Saturday launched a Rs20 billion ($71.4 million) relief package for Ramadan which aims to benefit 4 million families across the country.

As part of the package, the government has decided to provide Rs5,000 ($17.87) each to around 4 million families across the country to support them during the month of Ramadan, officials said. 
 


Attorneys sue to keep 10 migrants, including Pakistani, out of Guantanamo Bay

Attorneys sue to keep 10 migrants, including Pakistani, out of Guantanamo Bay
Updated 50 min 16 sec ago
Follow

Attorneys sue to keep 10 migrants, including Pakistani, out of Guantanamo Bay

Attorneys sue to keep 10 migrants, including Pakistani, out of Guantanamo Bay
  • Out of 10, seven men are from Venezuela, others from Afghanistan, Bangladesh and Pakistan
  • As per the lawsuit, Afghan and Pakistani migrants came to US fleeing threats from Taliban 

Civil rights attorneys sued the Trump administration Saturday to prevent it from transferring 10 migrants detained in the US to Guantanamo Bay, Cuba, and filed statements from men held there who said they were mistreated there in conditions that of one of them called “a living hell.”

The federal lawsuit came less than a month after the same attorneys sued for access to migrants who were already detained at the naval base in Cuba after living in the US illegally. Both cases are backed by the American Civil Liberties Union and filed in Washington.

The attorneys also filed statements translated from Spanish into English from two men still held at Guantanamo Bay, four men held there in February and sent back to Venezuela, and a Venezuelan migrant sent back to Texas. 

The men said they were kept in small, windowless cells, with lights on around the clock, hindering sleep, and had inadequate food and medical care. One man reported attempting suicide there, and two said they knew of others’ attempts. The men said migrants were verbally and physically abused by staffers.

“It was easy to lose the will to live,” said Raul David Garcia, a former Guantanamo detainee sent back to Venezuela. “I had been kidnapped in Mexico before, and at least my captors there told me their names.”

Another former detainee sent back to Venezuela, Jonathan Alejandro Alviares Armas, reported that fellow detainees were sometimes denied water or “tied up in a chair outside our cells for up to several hours” as punishment, including for protesting conditions.

“Guantanamo is a living hell,” he said.

In another, separate federal lawsuit filed in New Mexico, a federal judge on Feb. 9 blocked the transfer of three immigrants from Venezuela being held in that state to Guantanamo Bay.
Trump says Guantanamo Bay can hold thousands of ‘the worst’.

The White House and the Defense and Homeland Security departments did not immediately respond to emails Saturday seeking comment about the latest lawsuit. The two agencies are among the defendants.

Trump has promised mass deportations of immigrants living in the US illegally and has said Guantanamo Bay, also known as “Gitmo,” has space for up to 30,000 of them.

He also has said he plans to send “the worst” or high-risk “criminal aliens” to the base in Cuba. The administration has not released specific information on who is being transferred, so it is not clear what crimes they are accused of committing in the US and whether they have been convicted in court, or merely been charged or arrested.

At least 50 migrants have been transferred already to Guantanamo Bay, and the civil rights attorneys believe the number now may be about 200. They have said it is the first time in US history that the government has detained noncitizens on civil immigration charges there. For decades, the naval base was primarily used to detain foreigners associated with the Sept. 11, 2001, attacks.

A separate military detention center once held 800 people, but that number has dwindled to 15, including 9/11 mastermind Khalid Sheikh Mohammed. Critics have said for years that the center is notorious for poor conditions for detainees. A 2023 report from a United Nations inspector said detainees faced “ongoing cruel, inhuman and degrading treatment,” though the US rejected much of her criticism.

Migrants say they were tortured or threatened before coming to the US

The 10 men involved in the latest lawsuit came to the US in 2023 or 2024, seven from Venezuela, and the others from Afghanistan, Bangladesh and Pakistan.

The lawsuit said the Afghan and Pakistani migrants were fleeing threats from the Taliban, and two of the Venezuelans had been tortured by the government there for their political views. One of the Venezuelans, Walter Estiver Salazar, said government officials kidnapped him after he refused to follow an order to cut off his town’s electricity.

“The officials beat me, suffocated me, and eventually shot me,” he said. “I barely survived.”

Salazar said he had been convicted in the US of driving under the influence, “which I deeply regret,” while another of the Venezuelans said charges against him tied to a domestic dispute had been dropped. 

The men’s attorneys allege that many of the people who have been sent to Guantanamo Bay do not have serious criminal records or even any criminal history.

Four Venezuelans said they had been falsely accused of being gang members based on their tattoos, including one who said his tattoo was of a Catholic rosary.

Transfer to Guantanamo violates constitutional right, attorneys say.

The latest lawsuit contends that the transfers violate the men’s right to due legal process, guaranteed by the Fifth Amendment to the US Constitution.

The lawsuit also argues that federal immigration law bars the transfer of non-Cuban migrants from the US to Guantanamo Bay; that the US government has no authority to hold people outside its territory; and the naval base remains part of Cuba legally. The transfers are also described as arbitrary.

Their first lawsuit, filed Feb. 12, said Guantanamo Bay detainees had “effectively disappeared into a black box” and couldn’t contact attorneys or family. The Department of Homeland Security said they could reach attorneys by phone.

One of the formerly detained Venezuelans, Yoiker David Sequera, said he was permitted to make one phone call to the ACLU, but when he asked to speak with his family, he was told “it was not possible.”

 A current detainee, Tilso Ramon Gomez Lugo, said that for two weeks he was not able to communicate “with anyone in the outside world” until he was allowed to make a single call to attorneys.

The lawsuit also argues that Guantanamo Bay “does not have the infrastructure” to hold even the 10 men. Garcia said a part of the base for migrants like him known as Camp 6, where he was confined, seemed “prepared at the last minute” and was “not even finished.”

“It was freezing, and I felt like chicken trapped in an incubator,” he said.


Pakistan and Denmark discuss multilateral cooperation, strengthening economic ties

Pakistan and Denmark discuss multilateral cooperation, strengthening economic ties
Updated 02 March 2025
Follow

Pakistan and Denmark discuss multilateral cooperation, strengthening economic ties

Pakistan and Denmark discuss multilateral cooperation, strengthening economic ties
  • Both countries began their two-year terms as non-permanent Security Council members in January
  • They discuss trade and investment by leveraging public-private partnership, says the foreign office

ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar on Saturday discussed cooperation on multilateral platforms with Denmark’s Foreign Minister Lars Løkke Rasmussen, with the foreign office in Islamabad describing their conversation as “productive.”
Both Pakistan and Denmark began their two-year terms as non-permanent members of the United Nations Security Council in January 2025, joining the 15-member body responsible for maintaining international peace and security.
The Council comprises five permanent members — China, France, Russia, the United Kingdom, and the United States — and ten non-permanent members elected for two-year terms by the General Assembly.
Non-permanent members play a crucial role in shaping the Council’s agenda, participating in decision-making processes, and contributing to resolutions on global issues.​
“Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar had a productive phone conversation with Denmark’s Foreign Minister, Lars Løkke Rasmussen,” the foreign office said in a social media post. “The two leaders expressed their resolve to strengthen the long-standing friendship between Pakistan and Denmark into a strong economic partnership.”
“They explored ways to expedite collaboration in trade and investment through the promotion of Public-Private Partnerships,” it continued. “Additionally, as non-permanent members of the UN Security Council for 2025 and 2026, they pledged to cooperate on multilateral platforms to advance mutual interests, peace, and sustainable development.”
In August 2022, Pakistan and Denmark signed the Green Framework Engagement Agreement, aiming to enhance collaboration on climate change mitigation, renewable energy and sustainable development. While the volume of trade between the two countries remains modest, Pakistan has sought to intensify economic diplomacy with European nations in recent years.​
The relations between both sides have also faced challenges in the past. In 2005, anti-Islam caricatures published in a Danish newspaper led to public protests in Pakistan.
In 2008, the Danish embassy in Islamabad was targeted in a bombing that led to several casualties, with Al-Qaeda claiming responsibility and citing the cartoons as its motivation.
More recently, Denmark faced criticism from Muslim states for allowing public burnings of Islamic scripture.
In December 2023, however, the Danish government enacted a law criminalizing the public desecration of religious texts, deescalating tensions and aiding in the normalization of diplomatic relations with Muslim-majority countries.​


Pakistan ruling coalition ally criticizes cyber law amendments, warns of threat to free speech

Pakistan ruling coalition ally criticizes cyber law amendments, warns of threat to free speech
Updated 01 March 2025
Follow

Pakistan ruling coalition ally criticizes cyber law amendments, warns of threat to free speech

Pakistan ruling coalition ally criticizes cyber law amendments, warns of threat to free speech
  • Pakistan’s Prevention of Electronic Crimes Act is widely criticized as a tool to stifle dissent
  • PPP’s Raza Rabbani calls the PECA amendment bill ‘black law,’ says it can weaken the state

KARACHI: A senior Pakistani politician from a party supporting Prime Minister Shehbaz Sharif’s ruling coalition on Saturday condemned the recent amendments to the country’s cyber laws, warning they would jeopardize freedom of speech and weaken the state.
Pakistan’s Prevention of Electronic Crimes Act (PECA) was originally enacted in 2016, but an amendment bill passed in January 2025 expanded its scope by broadening the definition of “fake news” and criminalizing defamation against government officials.
The law also established a new social media regulatory authority to oversee digital content and a cybercrime agency with the power to prosecute violations.
Speaking at a convention related to the issue, Raza Rabbani of the Pakistan Peoples Party denounced the PECA amendments as a “black law,” asserting they would further restrict an already regulated digital space, especially for journalists.
“Trying to stop or restrict freedom of the press actually weakens the state. Freedom of expression is a fundamental right,” Rabbani said, highlighting the law’s “vague provisions on fake news” and other reforms that he warned could be easily manipulated.
He criticized the government for failing to consult stakeholders before enacting the amendments and urged an immediate suspension of the law’s implementation. Rabbani called for dialogue with journalists, civil society and other relevant groups to revise the legislation.
Barrister Salahuddin Ahmed, a legal expert, told the gathering the amendments undermined democratic principles by granting the government disproportionate power.
He also warned against the new authority mandated to take swift action against social media platforms during his speech.
“This authority is empowered to block platforms and remove content within 24 hours of a complaint being filed,” Ahmed said. “This gives an alarming level of unchecked power to a single body, which could easily be misused to stifle dissent.”
Sohail Afzal Khan, secretary of the Karachi Press Club, where the convention was held, echoed these concerns, arguing PECA was designed to suppress journalists rather than combat disinformation.
“If the government had been sincere in combating fake news, it would have enacted legislation in consultation with journalist leadership and other stakeholders. Instead, it seeks to suppress the voice of journalists,” Khan said.
The event was attended by representatives from major political parties, lawyers, rights activists and media workers, culminating in a resolution rejecting PECA 2025.
The resolution called for the removal of restrictions on free speech and an end to legal actions against journalists under the pretext of combating misinformation.
“The meeting resolves to continue its struggle against PECA and similar laws, within democratic frameworks, by collaborating with civil society and democratic forces,” it said.


PM Sharif highlights Palestinian and Kashmiri struggles as Ramadan begins in Pakistan

PM Sharif highlights Palestinian and Kashmiri struggles as Ramadan begins in Pakistan
Updated 01 March 2025
Follow

PM Sharif highlights Palestinian and Kashmiri struggles as Ramadan begins in Pakistan

PM Sharif highlights Palestinian and Kashmiri struggles as Ramadan begins in Pakistan
  • The prime minister says it is time to strengthen Muslim unity and promote cooperation
  • He urges people to support financially disadvantaged segments during the holy month

ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday recalled the struggles of the Palestinian and Kashmiri people while urging greater unity among Muslim states, as Pakistan prepares to begin the holy month of Ramadan from tomorrow.
Pakistan’s central moon sighting committee announced a day earlier that the Ramadan crescent was not sighted anywhere in the country, confirming that the first day of fasting would fall on Sunday.
Observed by Muslims worldwide, the month is marked by fasting from dawn to sunset, which many consider a time for spiritual reflection, self-discipline and devotion.
Fasting is also seen as a way to strengthen faith and develop empathy for the less fortunate.
“We are grateful to Allah for once again blessing us with the holy month of Ramadan, a time of mercy, blessings, and forgiveness,” the prime minister was quoted as saying by his office in a statement.

Muslims offer the first Tarawih prayers to mark the start of the Islamic holy fasting month of Ramadan at the Memon Mosque in Karachi on March 1, 2025. (AFP)

“We must remember our Palestinian and Kashmiri brothers and sisters who continue to suffer oppression and raise our voices against this injustice,” he continued. “This is the time to strengthen Muslim unity and promote cooperation and brotherhood.”
Sharif also called on Pakistanis to support financially disadvantaged segments of society during the month, which places a strong emphasis on charity and social welfare.

People arrive to offer the first Tarawih prayers to mark the start of the Islamic holy fasting month of Ramadan at the Memon Mosque in Karachi on March 1, 2025. (AFP)

Ramadan holds special significance for Muslims, as it was during one of its nights that the first verses of the Qur’an were revealed to Prophet Muhammad (PBUH).
The month is observed with increased prayer, charitable giving and community gatherings, culminating in the festival of Eid Al-Fitr.