Tag: Pak-Saudi ties

  • ‘Excellent’: says PM Shehbaz after meeting with Saudi Arabia’s Crown Prince Mohammed bin Salman

    ‘Excellent’: says PM Shehbaz after meeting with Saudi Arabia’s Crown Prince Mohammed bin Salman

    Prime Minister (PM) Shehbaz Sharif and Saudi Arabia’s Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud on Tuesday held a bilateral meeting at the Royal Palace of Riyadh.

    During the meeting, the two leaders reaffirmed their commitment to further strengthen the bond between both Islamic countries, reports Radio Pakistan.

    PM Shehbaz thanked the Saudi leadership for extending assistance to Pakistan during the recent devastating floods, particularly for establishing the air bridge between Riyadh and Islamabad to provide relief goods in flood-affected areas.

    Meanwhile, crown prince Salman termed the fraternal ties between Pakistan and Saudi Arabia very important for the two countries as well as for the region and the world.

    Taking to Twitter, PM Shehbaz described the meeting as “excellent”. He said, “We agreed to upgrade and enhance bilateral ties and fraternal bonds between Pakistan and Saudi Arabia to new heights in line with the requirements of the changing world. I told the crown prince that people of Pakistan are eagerly looking forward to his visit,” he added.

    Later, the premier and his accompanying delegation performed Umrah at Makkah’s Grand Mosque, where he “prayed for the peace and prosperity of Pakistan as well as Muslim ummah.”

    PM Shehbaz addressed the Future Investment Initiative Conference in Saudia

    PM Shehbaz addressed the Future Investment Initiative Conference in Saudia and highlighted the importance his government attaches to enabling the participation of Pakistani youth to become agents of change in the technology world.

    In his address with attendees at the sixth edition of the FII summit, Sharif called the conference a “remarkable” forum launched by his Saudi “friends.”

    “For the investment in solar and wind energy projects in Pakistan, I am standing before you, inviting you to please come forward and invest in these fields”, PM said on the occasion.

    PM Shehbaz landed in Riyadh on Monday where he was received by Riyadh Governor Prince Faisal Bin Bandar Bin Abdul Aziz Al Saud at the airport. The premier is accompanied by several federal ministers. Finance Minister Ishaq Dar, Defence Minister Khawaja Asif, Information Minister Marriyum Aurangzeb and other officials are with him.

    The Saudi Crown Prince is likely to visit Pakistan on an official visit in November.

    The last time the crown prince visited Pakistan was in February 2019 when former PM Imran Khan was in power.

  • Crown Prince MBS coming to Pakistan after Eid

    Crown Prince MBS coming to Pakistan after Eid

    Prime Minister Imran Khan was warmly welcomed by Saudi Crown Prince Mohammed bin Salman during his three-day visit to the Kingdom of Saudi Arabia. The Saudi Crown Prince is expected to visit Pakistan after Eid.

    In a joint statement issued by Riyadh and Islamabad, the two leaders reaffirmed the importance of the ties between the two countries. All facets of bilateral cooperation, regional and international issues of mutual interest were discussed by the two. Matters of strengthening and enhancing the economy and trade in light of the Kingdom’s 2030 vision and Pakistan’s development priorities emanating from a shift from geo-politics to geo-economics were also highlighted.

    Issues pertaining to the Islamic world were also discussed. The two leaders stressed the need for concerted efforts by the Muslim countries to confront extremism and violence, reject sectarianism, and strive to achieve international peace and security.

    The two sides reaffirmed their full support for all the legitimate rights of the Palestinian people, especially, their right to self-determination and establishment of their independent state, in accordance with the Arab Peace Initiative and relevant UN resolutions

    PM praised the role of Saudi Arabia for the resolution of crisis in Yemen, which aims at achieving peace and security in Yemen as it will result in prosperity and development of the region and its people.

    The Crown Prince acknowledged Pakistan’s facilitative role in the Afghan peace process. The two leaders agreed to continue mutual consultations on the Afghan peace process.

    The recent understanding reached between the military authorities of Pakistan and India regarding ceasefire at the Line of Control (LoC) was welcomed by the Crown Prince. The two sides emphasised the importance of dialogue between Pakistan and India to resolve issues, especially Jammu and Kashmir dispute, to ensure peace and stability in the region.

    Premier congratulated the Saudi government for successfully organising and holding the G20 summit meetings and the positive decisions that resulted from it in economic, developmental, environmental, health, energy and other fields.

    Acknowledging the leading role of the Kingdom in addressing international issues, in particular the challenge posed by climate change, the two leaders welcomed each other’s efforts towards the cause.

    PM Imran appreciated the efforts of the Kingdom and its leadership in serving the Two Holy Mosques, their pilgrims, Umrah performers and visitors despite the challenges posed by the Corona pandemic. He expressed gratitude and offered his best wishes. The Saudi Crown Prince warmly reciprocated with best wishes for health and wellbeing of the Prime Minister, and prayers for the progress and prosperity of the brotherly people of the Islamic Republic of Pakistan.

  • Pakistan takes money from China to pay back $1bn Saudi loan

    Pakistan takes money from China to pay back $1bn Saudi loan

    Pakistan will return $1 billion to Saudi Arabia this week with the help from China that agreed to lend Islamabad $1-1.5bn on a short notice to pay back the Saudi loan.

    It may be noted here that Saudi Arabia had provided Pakistan a financial package, originally estimated at $6.2 billion, to help the government of Prime Minister Imran Khan to avoid looming default on international debt obligations two years ago.

    However, due to apparent strain in ties, the Saudis have already suspended the oil facility and taken a billion back. Pakistan paid it back as a first tranche in May this year. Pakistan returned $1 billion to Saudi Arabia after taking an equal amount of loan from China. Reports claim that the next tranche will be paid by the coming month to clear the remaining Saudi dues.

    The government has also not been able to get the suspended $6 billion IMF programme restored, which is making it difficult for it to continue uninterrupted foreign inflows.

    By Sept last year, Prime Minister Imran Khan-led government had admitted to taking $10.37 billion debt from different countries and international lenders.

    In a written reply to a question in the National Assembly, Minister for Economic Affairs Hammad Azhar had said the Pakistan Tehreek-e-Insaf (PTI) government secured $10.37 billion from various governments and international institutions from August 14, 2018, to September 30, 2019.

    The government, during this period, received $1.54 billion from China, $151.79 million from Saudi Arabia, $68.6 million from France, $0.4 million from Germany, $62.48 million from Japan, and $0.01 million from Kuwait.