Daily Times

Ahsan Iqbal, the minister of planning, development and special initiatives, Sunday expressed Pakistan’s wish to establish [China-Pakistan Economic Corridor] CPEC-style economic cooperation with Saudi Arabia as well. Addressing the Pakistani community at Pakistan’s consulate in Jeddah, the minister said: “We want to establish CPEC-style economic cooperation with Saudi Arabia as well. Based on CPEC, a joint investment offer has been made to China and Saudi Arabia.”

Ahsan Iqbal categorically dismissed rumors related to default risks, terming it “Pakistan Tehreek-e-Insaf’s(PTI) propaganda” for mere politicking. He said the country had adopted a path of stability and saved it from going to default The minister made these remarks while addressing the Pakistani community at the Pakistani Consulate in Jeddah, where a large number of overseas Pakistanis had participated, according to a message received here on Sunday. The government would soon introduce the death insurance scheme for overseas Pakistanis, he further apprised to participants.

“The PTI destroyed the country’s economy which led to an economic crisis but the incumbent government has improved the economy by following the agreement with the IMF and for the last six months Pakistan has adopted a path of stability,” said the minister. The news about Pakistan’s default risk is based on a “malicious campaign initiated by the PTI which has no reality”. The incumbent government under the leadership of Prime Minister Shehbaz Sharif succeeded in removing Pakistan from the grey list, he added. The minister further added that Pakistan had a long-standing and brotherly relationship with Saudi Arabia which would continue with the same spirit. We want to establish CPEC-style economic cooperation with Saudi Arabia, also apprising that China and Saudi Arabia had been offered joint investment under CPEC. “Overseas-based in Saudi Arabia are a strategic partner of Pakistan and their efforts are commendable which helps Pakistan to promote their narrative,” the minister said. The minister also announced that a death insurance scheme will be introduced soon for overseas Pakistanis to provide support to their families in case of accidental death.