Tag: Saudi Arabia

  • Govt to send one million Pakistanis abroad for employment

    Govt to send one million Pakistanis abroad for employment

    The Government of Pakistan will send 1 million citizens abroad for employment, Tikka Sani has reported for Samaa. Federal Minister for Overseas Pakistanis and Human Resource Development, Sajid Hussain Turi, while talking to Samaa said that the ministry is working on signing work visa agreements with fifty countries including Germany.

    He continued by adding that Saudi authorities are coming to Pakistan soon to issue visas and citizens who pass technical training tests will be able to get the visa.

    The minister further said that Japan has also opened visas for Pakistani workers while South Korea has a demand for 10,000 skilled workers from Pakistan.

    The Federal Minister for Overseas Pakistanis said that 27,000 blocked passports of overseas Pakistanis have also been restored.

  • Nawaz to visit Saudi as royal guest

    Nawaz to visit Saudi as royal guest

    Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif will perform Umrah in the last days of Ramzan on the invitation of the royal family.

    Nawaz is set to visit the Kingdom on the invitation of the Saudi ruler, with the former Prime Minister being a royal guest in the country.

    The news of Sharif’s planned visit to Saudi Arabia has led to speculation that he may use the opportunity to return to Pakistan. However, there has been no official confirmation from Sharif or his party about his plans to return.

    The PML-N supremo was granted an eight-week bail on medical grounds in October 2019, and, he was allowed to travel to London for treatment for four weeks. However, Nawaz has not returned since then.

  • Pakistan awaits financial support confirmation from Saudi Arabia and UAE to sign IMF agreement

    Pakistan awaits financial support confirmation from Saudi Arabia and UAE to sign IMF agreement

    The signing of the staff-level agreement (SLA) between Pakistan and the International Monetary Fund (IMF) is dependent on confirmation of financial support from the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE). Once support confirmation is received from KSA and UAE, the SLA will be signed with the IMF.

    Finance Minister Ishaq Dar reportedly informed diplomats in Islamabad at an Iftar dinner on Sunday that the issues with the IMF will be settled soon. However, it has been 46 days since the IMF and Pakistan concluded review talks in Islamabad on February 9, and the staff-level agreement is yet to be secured.

    There have also been dissenting views within the Finance Ministry on the issue of cross-fuel subsidy. While some bureaucrats from the ministry have opposed the scheme, the government went public with it, which has caused concern.

    Officials who spoke on the condition of anonymity told The News, that such schemes would jeopardize the revival of the IMF program, and it remains to be seen how the ministry will satisfy the global lender on the subsidy. The status of the 10th and 11th reviews, which were due on February 3 and May 3, respectively, is also unknown at this time, even if the IMF program is revived.

    The situation highlights the importance of financial support from KSA and UAE to Pakistan, as well as the potential impact of domestic policy decisions on the country’s relationship with the IMF. Despite Finance Minister Dar’s assurances, it is unclear when the SLA will be signed, and how the subsidy issue will be resolved.

    As the reviews remain in question, the situation underscores the need for Pakistan to address economic challenges and seek support from its allies to maintain its financial stability.

  • ‘Amazing, fulfilling’; Tennis star Sania Mirza shares clip while performing Umrah

    Sports star and television host Sania Mirza shared a video clip of her trip to the holy city of Mecca to perform Umrah. In the caption, Mirza had written that she was thankful for the experience:

    “It has been the most amazing and fulfilling time here .. may Allah call us back again and again .. In sha Allah .. Allhamdulillah for everything .. ya Rabb tera shukar hai ”

    Mirza also shared some other pictures with her children of her visit

  • China approves rollover of $2 billion SAFE deposits for Pakistan

    China approves rollover of $2 billion SAFE deposits for Pakistan

    China has given approval for the rollover of $2 billion State Administration of Foreign Exchange (SAFE) deposits for a year. Pakistan’s Finance Minister, Ishaq Dar, confirmed, stating that the rollover was a requirement of the International Monetary Fund (IMF).

    The IMF had requested the rollover of Chinese SAFE deposits to fulfill external financing needs and move towards a staff-level agreement. The agreement involves filling nine tables under the Memorandum of Economic and Financial Policies (MEFP), including a table related to the Net International Reserves (NIR) as an indicative target.

    This target cannot be met without incorporating the external financing needs of the program period until the end of June 2023. The IMF has asked Pakistan to bridge the gap of $6 billion to ensure its credibility and avoid default. This condition was put forth largely because representatives of Gulf countries on the Executive Board had made commitments before the approval of the seventh and eighth reviews for providing financial assistance to Islamabad in various forms.

    Now, the IMF is seeking the support of Saudi Arabia, the UAE, and Qatar to help Pakistan’s struggling economy. The Fund has warned Islamabad that its credibility would be at stake if the staff-level agreement is finalised, and Pakistan fails to materialize its commitment from the bilateral partners, which could lead to default.

    The IMF is investigating why Pakistan’s bilateral partners are not fulfilling their earlier commitments. China is the only country that has come forward to rescue Islamabad by fulfilling its commitments on the re-financing of its commercial loans as well as the rollover of its SAFE deposits.

  • Saudi prince aims to create over 1,000 jobs with $100 million tech house investment in Pakistan

    Saudi prince aims to create over 1,000 jobs with $100 million tech house investment in Pakistan

    A Saudi tech company owned by Prince Fahad bin Mansour Al-Saud has announced the launch of a Saudi-Pakistan Tech House in Islamabad on Monday.

    The initiative was first announced by the prince in January at Pakistan’s largest tech event, Future Fest 2023, and aims to forge partnerships with information technology (IT) companies and enterprises in Pakistan to promote greater ease of doing business between the two countries.

    Prince Fahad is the co-founder of ILSA Interactive, which was established in 2009 by Pakistani entrepreneur Salman Nasir with offices in Riyadh and Lahore, reflecting the determination of both Pakistani and Saudi leaders to deepen an existing strategic relationship in all fields.

    The company plans to forge partnerships with IT companies, universities, and large enterprises in Pakistan. The launch ceremony took place on Monday, March 6, and Prince Fahad intends to create more than 1,000 jobs and undertake 300 projects valued at $100 million in Pakistan, Saudi Arabia, and other countries.

    Future Fest 2023 saw leading entrepreneurs, startups, policymakers, and investors from around the world participate, and a delegation of Saudi business leaders attended the event, taking part in keynote addresses, roundtable conferences, and discussions on various topics related to the future of business and startups.

  • ‘Dunya ne hum par aitemaad keeya’: PM Shehbaz promises to use $9.7 billion flood donations transparently

    Following substantial pledges from the international community for Pakistan’s flood rehabilitation and climate resilience building, Prime Minister (PM) Shehbaz Sharif accompanied by federal ministers, held a press conference in Islamabad to discuss the figures that the country received.

    On Wednesday, the premier announced that the Geneva conference proved to be successful as the world pledged a total of $9.7 billion.

    Giving a breakdown of the amount pledged at the conference, the prime minister said Saudi Arabia committed $1 billion, followed by China $100m, Qatar $25m, Canada $18.6m, Denmark $3.8m, European Union €87m, France €380m, Germany €84m, Italy €23m and Azerbaijan $2m.

    During the conference, he said that the world trusted this government, adding that, “It is now upon us to utilise the amount on infrastructural development and for the development of other important sectors.”

    “The ball is now in our court. We now have to transparently spend every single penny on the people’s prosperity”, he affirmed.

    He added that the incumbent regime would keep up their work until the flood-affected populace was repopulated into their homes.

    Answering a question about the sit-in in South Wazirabad against terrorism, and militancy, the prime minister said the National Security Committee (NSC) discussed the issue in detail.

    Foreign Minister (FM) Bilawal Bhutto Zardari termed the PM’s foreign policy “successful”, citing the amount raised for flood victims and simultaneously dispelled the “myth” that Pakistan was isolated.

    Bilawal said the requirement of $16bn [for flood recovery] in times of Covid, as well as the crisis triggered by the Ukraine-Russia conflict, was “no joke”.

    Earlier this week, an International Conference on Climate Resilient Pakistan was held in Geneva which was co-hosted by Pakistan and the United Nations (UN). PM Shehbaz addressed the platform and asked the world to pour in support for Pakistan.

  • Ishaq Dar says Pakistan’s foreign exchange reserves will strengthen soon

    Ishaq Dar says Pakistan’s foreign exchange reserves will strengthen soon

    Pakistan’s foreign exchange reserves, which currently stand at $10 billion, will strengthen very soon, according to Finance Minister Ishaq Dar.

    Dar recalled the economic achievements made by the PML-N government from 2013 to 2018, saying that during that time, the GDP of the nation increased from $244 billion to $356 billion.

    He said, “Pakistan reserves stood at a total of $10 billion — $4 billion of the State Bank of Pakistan and $6 billion of commercial banks. Pakistan is repaying its loans on time, and the foreign exchange reserves will soon boost.”

    The finance minister announced that an IMF group would soon be in the nation and that he would be seeing IMF representatives at the Geneva summit.

    The coalition administration plans to seek money at the International Conference on Climate Resilient Pakistan on January 9 in Geneva, Switzerland, in order to recover from the disastrous floods.

    Dar informed the media outlet that he will travel to the United Arab Emirates (UAE) for a three-day official tour after his visit to Geneva comes to an end.

    “Funds from Saudi Arabia and other friendly countries will soon be received,” the finance minister said, who told journalists earlier this week that he expects inflows from China “in a few days.”

  • Saudi Arabia to change marriage law to allow Ronaldo to live with partner without marriage

    Saudi Arabia to change marriage law to allow Ronaldo to live with partner without marriage

    Saudi Arabia is set to amend its marriage law to allow Cristiano Ronaldo to live with his partner, Georgina Rodriguez without marriage, Spanish media has reported.

    Saudi Arabia marriage law prohibits couples that are not married from living together . According to Daily Mail, Ronaldo is already living with his spouse and may not be sanctioned by laws.

    ”The Saudi Arabian authorities, today, do not interfere in this matter [in the case of foreigners], but the law continues to prohibit cohabitation outside of marriage,” wrote Daily mail while quoting a law practitioner.

    The 37-year-old Portuguese forward joined Al-Nassr and became the highest paid footballer in December 2022 following a mutual termination of his contract with the Premier League side Manchester United.

  • After Islamabad and Balochistan, threat of terrorism reaches Karachi

    After Islamabad and Balochistan, threat of terrorism reaches Karachi

    The Sindh government has informed provincial police and DG Rangers that three banned organisations have planned major terrorist incidents in three major cities of the province—Karachi, Hyderabad and Sukkur.

    According to an official letter sent to the concerned authorities, the banned organisations include Baloch Revolution Army, Baloch Raaji Ajoi Sanga and Sindh Revolution Army.

    Moreover, the letter stated that the aforementioned organisations have also distributed arms and ammunition to their associated terrorists.

    On the other hand, Islamabad Police on Tuesday issued a “special security plan” after analysing the current security situation of the capital.

    The law enforcement agency said that at least 25 temporary security check posts have been established at different locations in Islamabad.

    Authourities will be using safe city cameras to record traffic at Red Zone entrances while the videos of metro bus service passengers will also be recorded.

    The police have also requested residents and foreigners to carry their identification documents.

    Since the suicide attack in Islamabad on December 23, multiple foreign missions including the United States (US) Saudi Arabia and Australia have advised their citizens and staff to limit their movement in the capital.

    Pakistan is facing a resurgence of terrorism since the militant Tehreek-e-Taliban Pakistan (TTP) called off its ceasefire with the government in late November.