Latest news with #SaudiDevelopmentFund
Leaders
20-05-2025
- Business
- Leaders
Tajik PM Meets Saudi Chambers Chief to Strengthen Economic Ties
Tajikistan's Prime Minister, Kohir Rasulzoda, welcomed Hassan Alhwaizy, Chairman of the Federation of Saudi Chambers of Commerce, along with his delegation of investors and government officials, in Dushanbe today. The discussions centered on expanding cooperation and exploring investment opportunities in key sectors such as hydropower, renewable energy, industry, mining, agriculture, and tourism. The Tajik side outlined various incentives available to Saudi investors to attract investment in these strategic areas. Both parties underscored the pivotal role of the Saudi-Tajik Business Council in deepening economic relations and agreed on the importance of establishing a direct flight route to bolster trade and tourism. Prime Minister Rasulzoda reaffirmed Tajikistan's readiness to open its airspace to any airline interested in launching direct flights between the two countries. Related Topics: Saudi Development Fund Chief Meets with Tajikistan President in Dunshanbe Saudi-Tajik Investment Forum kicks off in Dushanbe Saudi Arabia, Tajikistan to Establish Joint Business Council Saudi Development Fund Chief Meets with Tajikistan President in Dunshanbe Short link : Post Views: 13 Related Stories
Express Tribune
19-02-2025
- Business
- Express Tribune
Saudi Arabia extends $100m oil facility
Saudi Arabia renewed an oil supply facility for Pakistan worth $100 million per month on deferred payment for another year under the Saudi Development Fund, Prime Minister Shehbaz Sharif told the federal cabinet on Tuesday. Chairing the meeting, Shehbaz also dilated on his talks with a delegation of the World Bank and the managing director of the International Monetary Fund (IMF), who commended Pakistan's macroeconomic stability as a result of the government's reform agenda. The prime minister informed the cabinet meeting about a letter sent to him by the Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman. He added that he was "deeply grateful to the Saudi leadership" for standing by Pakistan "in every difficult time". Shehbaz said that the Saudi crown prince, in his letter, had informed him about the renewal of the monthly supply of $100 million for another year by the Saudi Development Fund on the basis of deferred payment for petroleum products for Pakistan. "We are deeply grateful to Saudi Crown Prince and Prime Minister Mohammed bin Salman and the Saudi leadership," the prime minister stated. "Saudi Arabia has always stood with Pakistan in difficult times," he added. In his opening remarks, Shehbaz said that the complete elimination of terrorism was the mission of his government, stressing that Pakistan's development and prosperity was linked to it. In this regard, he commended the sacrifices rendered by the armed forces of Pakistan in the fight against terrorism. He directed the commerce ministry and other related divisions to make all-out efforts in taking the bilateral trade between Pakistan and Turkiye to $5 billion in light of the resolve expressed during the recently concluded visit of Turkiye's President Recep Tayyip Erdogan to Pakistan. The prime minister directed that e-Office implementation in all federal ministries and departments should be completed by March 20. He also directed that the entire system of service delivery in Pakistani missions abroad should be digitised to facilitate the overseas Pakistanis. The cabinet was briefed that the use of e-Office reached 98% across all the federal government divisions with 100% implementation in 39 divisions. Additionally, 176 institutions had also successfully adopted the system. The cabinet approved the signing of an international agreement under the United Nations Convention on the Law of the Sea for protection and use of diverse marine resources in international waters on the recommendation of climate change ministry. This initiative would benefit the Pakistani fishermen. The cabinet also approved the signing of Addendum 2 with Somalia regarding national identity system. Currently, Pakistan's National Database and Registration Authority (NADRA) is assisting Somalia in the national identification system. On the directives of Islamabad High Court and on the recommendation of the health ministry, the meeting forwarded a review petition for the registration of Watim Medical College, Rawalpindi, to the Pakistan Medical and Dental Council (PMDC) for further legal proceedings. On the recommendation of the human rights ministry, the cabinet sent six nominees for the position of Islamabad Capital Territory (ICT) member on the National Commission for Human Rights to the prime minister and the leader of the opposition in parliament. The cabinet approved the formation of a commission of inquiry to investigate irregularities in the governing body elections of the Pakistan Engineering Council (PEC), as recommended by the science and technology ministry. The meeting approved the amendments to the Inland Revenue Appellate Tribunal (Appointment, Terms, and Conditions of Service) Rules, 2024. It endorsed the decisions taken by the Economic Coordination Committee and Cabinet Committee on Legislative Cases in their meetings earlier this month. The cabinet approved the appointment of Kamran Jahangir as managing director of the National Book Foundation and appointment of Dr Shahid Aslam Mirza as the managing director of the Korangi Fisheries Harbour Authority. PM inaugurates Erdogan Interchange Prime Minister Shehbaz Sharif on Tuesday inaugurated the Recep Tayyip Erdogan Interchange near F-8 and F-9 sectors, commending the efforts of Interior Minister Mohsin Naqvi and his entire team for completing the project in record 84 days. Addressing the inaugural ceremony, the prime minister said that he had advised the interior minister to develop plans for future projects aimed at further beautifying the federal capital and improving the lives of the people, residing in the city and its surrounding areas. During Erdogan's recent visit to Pakistan, Shehbaz had named the newly-built F8 and F9 Interchange after the Turkish president. "I will send the pictures and detail of inauguration ceremony to the Turkish president to make him realise that he is our close friend and brother," he said. On the occasion, Naqvi said that the project had been built in 84 days, against the scheduled period of six months. He announced that a large-scale plantation drive would be launched next month on Margalla Hills and throughout the city to combat air pollution and reduce smog. The Interchange project will benefit residents traveling towards Sector G-8, G-9, Kashmir Highway, and Centaurus Mall. The 1.3-kilometer-long underpass included in the project was completed in 42 days, and a 1.1-kilometer-long flyover has also been constructed. With input from APP
Express Tribune
18-02-2025
- Business
- Express Tribune
Saudi Arabia renews $100m monthly oil support for Pakistan
Listen to article Saudi Arabia has renewed its $100 million monthly deferred oil payment facility for Pakistan for another year, Prime Minister Shehbaz Sharif confirmed on Tuesday. Speaking at a federal cabinet meeting in Islamabad on Tuesday, the PM shared details of a letter from Saudi Crown Prince and Prime Minister Mohammed bin Salman, confirming the extension of the Saudi Development Fund's support. "We are deeply grateful to Crown Prince Mohammed bin Salman and the Saudi leadership. Saudi Arabia has always stood by Pakistan in difficult times," he stated. The cabinet was briefed on the digitisation of government operations, with officials reporting that 98% of federal divisions had adopted the e-office system, with 100% implementation in 39 divisions. Additionally, 21 divisions have fully adopted inter-ministerial digital communication, while 176 government institutions have also implemented the system. PM Shehbaz directed the complete digitisation of all federal ministries by March 20 and called for improvements in digital services for overseas Pakistanis. Moreover, the cabinet approved Pakistan's participation in a United Nations convention on protecting marine resources in international waters, which is expected to benefit local fishermen. Additionally, it approved the appointment of Kamran Jahangir as managing director of the National Book Foundation, six nominees for the National Commission for Human Rights, whose names will be sent to the prime minister and opposition leader for final approval, and revised request for the registration of Watim Medical College Rawalpindi, as per Islamabad High Court directions. The cabinet also endorsed the Economic Coordination Committee's decisions from its February 14 meeting, as well as those from the Cabinet Committee on Legislative Cases on February 17. The cabinet approved an addendum to Pakistan's agreement with Somalia on its National Identity System. The National Database and Registration Authority (NADRA) has been assisting Somalia with its national identification system. The addendum includes provisions for verification services, a mobile enrolment application, an official payment gateway, and infrastructure development. The cabinet further approved a commission of inquiry into alleged irregularities in the Pakistan Engineering Council's governing body elections following a request from the Ministry of Science and Technology. Additionally, it approved amendments to the Inland Revenue Appellate Tribunal rules and reaffirmed previous economic and legislative decisions made earlier this month.
