ISLAMABAD: Pakistan's Foreign Minister Shah Mahmood Qureshi said on Wednesday that bringing stranded Pakistanis back to their homeland was government's top priority.
He chaired a high-level meeting at the foreign ministry in Islamabad to discuss the situation arising from Coronavirus outbreak when Hundreds of Pakistanis in transit were left stranded at airports across the world after the country sealed its borders to prevent imported virus cases.
“We discussed phase wise repatriation of Pakistanis from different countries of the world and our top most priority are those who are stranded at different airports,” Qureshi said.
Pakistan suspended all incoming international flights on March 22 as part of sweeping measures to contain the spread of the novel coronavirus outbreak.
Qureshi said that a crisis management cell had been established at the ministry of foreign affairs which was in touch with the Pakistani embassies in the world. "We have the exact number of Pakistanis abroad.”
The minister added that set safety protocol will be followed for all the passengers, as was seen last week for the flight coming from Thailand.
“All the 170 passengers of special flight from Thailand were tested and all of them were found negative. We have to ensure provision of quarantine and other medical facilities for the coronavirus positive people at airports,” he said.
The meeting was also attended by the Federal Minister for Aviation Ghulam Sarwar Khan, Special Assistant for Overseas Pakistanis Zulfiqar Bukhari, Special Assistant for National Security Dr Moeed Yousuf, Foreign Secretary Sohail Mehmood, Secretary of Aviation Division Hasan Nasir Jami, senior officials of foreign ministry and military officials.
The spokesperson of Pakistan International Airlines (PIA), Abdullah Hafeez, said the national carrier had received government's nod to start limited flights for repatriation of Pakistanis stuck abroad.
“The government has allowed PIA to resume partial flight operations,” Hafeez told Arab News on Wednesday.
In the first phase, flights will operate to Canada and United Kingdom from Karachi, Lahore and Islamabad, he said.
“A limited number of passengers will be brought back in the first phase so that they can be tested for COVID-19 according to the National Institute of Health (NIH) capability,” Hafeez said.
Two chartered flights carrying 400 passengers, including the Canadian High Commission staff, will set off for Toronto from Islamabad International Airport on Thursday, he informed.
“The regular flight operation for Toronto will resume on April 3 while for United Kingdom, it will start from April 4,” he said.
The spokesperson added that on the way back, all flights will land only at Islamabad airport where passengers will be kept in quarantine for six hours in different hotels until the results of their coronavirus tests arrive.
“The passengers with negative reports will be allowed to leave for their homes with NIH guidelines and COVID-19 positive passengers will be taken to quarantine centers for further treatment,” Hthe official said.
He added that passengers would be able to book the tickets from PIA website and require to wear mask without which they would not be allowed to board the plane.
"PIA staff has been given special training to ensure their safety and all aircrafts would be disinfected after each travel,” the spokesman said.
Bringing stranded Pakistanis home is government's 'top priority' — Qureshi
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Bringing stranded Pakistanis home is government's 'top priority' — Qureshi
- Hundreds were left stuck in transit after Pakistan sealed its borders to prevent virus spread
- Flight operation for Canada to resume from Friday and UK from April 4, PIA official says
Pakistani conglomerate Engro looks to go global, main investor says
- The expansion plans include looking at telecom infrastructure in the Middle East, North Africa, and Central Asia
- Engro Corp. has a market capitalization of $694 million on the Pakistan Stock Exchange and assets of $2.9 billion
KARACHI: Pakistan’s largest conglomerate, Engro Corp, is looking to expand into new markets, including the Middle East, Central Asia and Africa, the chemicals-to-energy company’s largest investor said on Tuesday.
Speaking to Reuters in a rare interview, Samad Dawood, vice chairman of Dawood Hercules Corp, which owns 40 percent of Engro Corp, said the company was also considering global liquefied natural gas (LNG) opportunities as well as hydrogen energy.
The expansion plans include looking at telecoms infrastructure in the Middle East, North Africa, and Central Asia, while it is looking at Africa to expand its fertilizer businesses, he said.
Engro Corp. has a market capitalization of 193 billion rupees ($694 million) on the Pakistan Stock Exchange and assets of 802 billion rupees ($2.9 billion), according to public data.
The group has businesses across multiple sectors in Pakistan, including energy, fertilizer, telecommunications and consumer goods.
It owns 56 percent of Pakistan’s first LNG terminal, Engro Elengy Terminal Pakistan, which was set up in the southern city of Karachi in 2015. Dutch energy logistics giant Royal Vopak owns the remaining 44 percent.
The terminal fulfils 15 percent of Pakistan’s natural gas demand.
Dawood said Engro will continue to invest in the energy sector despite having sold its coal-based assets, and was exploring new avenues for sustainable energy production.
He said the company was talking to technology providers in the hydrogen energy sector to figure out how to use ammonia as an energy transition solution.
Dawood added that Pakistan was far from being energy-secure and there were plenty of opportunities to invest further in the power sector.
Pakistan has moved toward reliance on LNG after its own domestic gas supplies dwindled fast as consumption in the industrial and residential sectors increased.
’DREAMER’
Dawood said the global push was inspired by his late elder brother Shahzada, who perished last year in the ill-fated Titan’s voyage to explore the Titanic wreckage — an accident that made global headlines when the deep-sea submersible imploded and killed all five people on board.
“He (Shahzada) was much more of a dreamer and pushing us to become more international and building that curiosity and engaging with the outside world,” Dawood said.
The Dawood family also faced a protracted legal ordeal in Pakistan where the company was accused of getting illegal favors from the government.
The case, which lasted years, finally ended last week with the country’s accountability watchdog dropping the case entirely. Dawood says the matter hurt the family deeply and even impacted their businesses and potential investors.
The company’s plans to push ahead are taking shape, Dawood said. On Monday, the boards of Engro and Dawood Hercules approved in principle a restructuring plan to allow them more capital flexibility.
Dawood said the restructuring will allow for participation in “opportunities that the entire economy provides,” adding that the boards wanted the flow of capital to be completely seamless between the two organizations.
He said Engro would be able to expand its investment mandate to include exploring opportunities created by multinational corporations divesting from Pakistan’s troubled markets.
Saudi Arabia’s Crown Prince expected to visit Pakistan ‘any time’ during May — FM Dar
- The development comes after a flurry of high-level engagements between Pakistan and Saudi Arabia in recent weeks
- Both countries have been working closely to increase bilateral trade and investment in several diverse sectors
ISLAMABAD: Ishaq Dar, Pakistan’s deputy prime minister and foreign minister, on Tuesday said the much-awaited visit of Saudi Arabia’s Crown Prince Mohammed bin Salman to Islamabad was on the cards and could materialize “any time” during the month of May.
The statement follows a series of high-level engagements between the two countries, including the visits of Pakistan PM Shehbaz Sharif to the Kingdom and a visit of Saudi Foreign Minister Faisal bin Farhan to Islamabad.
The visit by the Saudi Crown Prince would mark his first trip to Pakistan in the last five years. His previous visit took place in February 2019 during the tenure of former prime minister Imran Khan.
“That visit [of Saudi Crown Prince] is due, which will happen any time during May,” Dar told reporters at a media briefing in Islamabad. “We will receive the final dates from there [Saudi Arabia] and as a foreign ministry, we are in touch and his visit as of now is on the cards.”
The Saudi Crown Prince accepted PM Sharif’s invitation to visit Pakistan during their meeting in Ramadan, according to Dar.
“He [Saudi Crown Prince] said that he will visit Pakistan after the initial government-to-government (G2G) and business-to-business (B2B) meetings,” the Pakistani foreign minister said.
Pakistan and Saudi Arabia have been working closely in recent weeks to increase bilateral trade and investment deals, with Crown Prince Mohammed bin Salman last month reaffirming the Kingdom’s commitment to expedite an investment package of $5 billion.
PM Sharif discussed increasing bilateral trade and investment in his meeting with the Crown Prince during Sharif’s visit to Saudi Arabia on April 6-8, according to Dar.
It was followed by the visit of a Saudi ministerial delegation, led by FM Prince Faisal, to Islamabad on April 15-16, during which Pakistan presented the Saudi delegation with an investment menu that was “meticulously prepared after extensive efforts.”
Following Sharif’s talks with the Crown Prince and other top Saudi officials in Riyadh, a 50-member, high-level delegation, led by the Kingdom’s Assistant Minister of Investment Ibrahim Al-Mubarak, arrived in Pakistan on Sunday to explore investment opportunities in the South Asian country.
“The Saudi Assistant Investment Minister has brought prominent private Saudi companies for B2B meetings as government could only involve in major projects such as Reko Diq, petrochemicals and mining,” he said, adding that his government had aligned Pakistani companies for matchmaking.
“While bilateral trade volume will be bolstered through the private sectors of both sides, the government will facilitate this process as demonstrated by our recent efforts.”
Dar said Pakistan’s future looked “promising” due to the rapid progress made on the bilateral trade and investment agenda, on the directives of the Saudi Crown Prince.
Pakistan and Saudi Arabia enjoy strong trade, defense, and cultural ties. The Kingdom is home to over 2.7 million Pakistani expatriates and serves as a top source of remittances to the cash-strapped South Asian country.
’Wide potential’: Pakistani PM invites Japanese industrialists to invest in electric vehicle industry
- The delegation, led by Japan’s Ambassador Wada Mitsuhiro, met PM Shehbaz Sharif to discuss various opportunities in Pakistan
- PM Sharif says his government has formed committee to resolve issues faced by Japanese firms expanding businesses in Pakistan
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday met with a delegation of Japanese industrialists in Islamabad and urged them to invest in Pakistan’s electric automotive industry, Sharif’s office said, amid country’s push to attract foreign investment.
The delegation, led by Japan’s Ambassador to Pakistan Wada Mitsuhiro, met the prime minister to discuss various opportunities in Pakistan, according to PM Sharif’s office.
The Pakistan premier noted that Japan and Pakistan were longstanding friends and the two countries should further promote trade and investment ties in various sectors.
“There is a wide potential for investment in the electric vehicle industry in Pakistan and Japanese companies with the best technology can take full advantage of it,” Sharif was quoted as saying by his office.
“All problems faced by Japanese industrialists and businessmen will be overcome together.”
He noted that his government had formed a committee to resolve the issues faced by Japanese companies, who were expanding their businesses in Pakistan.
During the meeting, the Japanese ambassador informed the prime minister about the arrival of a delegation of 20 well-known Japanese companies to Pakistan in July, which would prove to be an important milestone for the promotion of investment and trade between the two countries.
“The delegation informed the Prime Minister that Japanese companies have started local production of hybrid vehicles in Pakistan,” Sharif’s office said. “The Prime Minister welcomed this move.”
The development comes amid Pakistan’s efforts to attract foreign investment to keep the frail $350 billion South Asian economy afloat.
The cash-strapped nation last month completed its $3 billion International Monetary Fund (IMF) program which helped avert a default last year, but the government of PM Sharif has stressed the need for a fresh, longer-term program.
Pakistan is expected to seek at least $6 billion and request additional financing from the Fund under the Resilience and Sustainability Trust.
PM Sharif says Saudi business delegation’s visit to benefit Pakistan’s economic future
- The prime minister says the Saudi minister leading the delegation described it as ‘a new era’ for Pakistan
- Pakistan is seeking foreign investment to navigate a path to economic recovery as it seeks another IMF bailout
ISLAMABAD: Prime Minister Shehbaz Sharif expressed confidence on Tuesday the Saudi business delegation’s visit to Pakistan would prove beneficial for his country while applauding his cabinet ministers for playing a constructive role in their dealings with the visiting investors.
The delegation, which comprised representatives of 30-35 Saudi companies, was led by the kingdom’s Saudi Assistant Minister of Investment Ibrahim Al-Mubarak and arrived in Pakistan on Sunday.
Its members held several business-to-business meetings to explore investment opportunities in various economic sectors of the country.
The prime minister said in the opening remarks of the cabinet meeting the delegation was satisfied with its engagements in Pakistan before returning to the kingdom. He particularly mentioned the head of the delegation, saying he praised the performance of Pakistani ministers.
“He said, ‘We are very satisfied and happily returning.’ And he said, ‘I will report that we have seen a new era in Pakistan.’ In this, the commerce minister has a very big role, as does the ministers of petroleum and finance,” the PM told the cabinet meeting.
“It augurs very well for our future,” he added.
The kingdom’s business delegation’s visit to Islamabad followed Saudi Foreign Minister Prince Faisal bin Farhan’s visit to Islamabad last month, when he was briefed by the authorities on various avenues to invest in the country.
Pakistan is trying to navigate a path to economic recovery by securing an International Monetary Fund bailout.
It also needs foreign investment to help fight a chronic balance of payments crisis.
Pakistan expecting investment in port infrastructure by global shipping giant Maersk — minister
- AP Moller-Maersk has a market share of around 20 percent in Pakistan’s containerized import-export activities
- Qaiser Ahmed Sheikh says there is a lot of interest in Pakistan’s port as a global hub for transshipment
KARACHI: Pakistan is expecting investment from a Denmark-based global shipping giant, AP Moller–Maersk (Maersk), in its port terminal and infrastructure, the Pakistani maritime affairs minister said on Tuesday, amid growing global interest in Pakistani ports.
The statement comes more than a week after Maersk Chief Executive Officer Keith Svendsen’s visit to Pakistan, where he met top officials to explore opportunities in Pakistan’s maritime sector.
Maritime Affairs Minister Qaiser Ahmed Sheikh told Arab News the Danish shipping firm was interested in investing in a terminal and port as well as allied infrastructure, including connecting bridges.
“We had very good discussions with them and they had shown eagerness and told us that they will submit proposal in a few days,” he said. “They want to take a terminal. There is some area where there is depth in the sea, where big ships can be anchored.”
Maersk has grown into a leading provider of logistics and supply-chain services across Pakistan. It has around 20 percent market share in Pakistan’s containerized import-export activities, according to Pakistan’s information ministry.
In January, the Danish shipping firm announced new smart logistics and warehouse facilities in China, Norway and Pakistan.
“With a vast network of warehousing and depot facilities across the country, including our flagship logistics hub in Port Qasim, Karachi — a sprawling 27-acre complex encompassing over 650,000 square feet of warehouse space — we ensure unparalleled support to Pakistani exporters and importers,” the shipping company said in a written response to Arab News.
“In total, Maersk now operates over a 1.5 million square feet footprint across 7 cities in Pakistan.”
Sheikh said many companies were interested in investing in the Karachi Port Trust (KPT) despite a limited space available there.
“We have limited space available in KPT and many, including foreign, companies are taking interest in it, particularly in the deep-water areas where water depth is high and we have the location,” he said.
“The point is that there is a lot of interest in Pakistan’s port right now because they are seeing this as a global hub for transshipment and they will also run the feeder vessels in the Gulf from here.”
To a question about a visiting Saudi delegation, the maritime affairs minister said “there are many breakthroughs” during the visit. “They are looking for areas of mutual interest which both sides can benefit from,” he added.
The South Asian nation has already signed an agreement with Abu Dhabi (AD) Ports Group which is investing about $395 million for the development of a container and cargo terminal under a government-to-government (G2G) agreement between the United Arab Emirates and Pakistan.
