Daily Times

Prime Minister Shehbaz Sharif presided over a session of the federal cabinet on Wednesday, where he emphasized the anticipated influx of ‘billions of dollars’ in investment following the recent visit of the Saudi delegation.

Expressing gratitude towards the efforts of the cabinet and others, the premier underscored the positive reception received by the Saudi delegation and appreciated the prompt preparations done by ministers and officials.

During the meeting, PM Shehbaz extended his appreciation to Saudi Crown Prince Mohammed bin Salman for his vested interest in Pakistan, which, according to him, led to a successful visit by the Saudi delegation. “We must ensure the completion of this investment in Pakistan with the same spirit and dedication,” the prime minister added. “No obstacles or hindrances in this regard will be allowed,” warned the premier. “If we persist in our efforts, Pakistan’s development, prosperity, and economic stability are within reach,” the premier remarked.

Last night, the premier hosted a dinner reception for the visiting high-powered Saudi delegation, led by Saudi Foreign Minister Prince Faisal bin Farhan Al Saud.

Yesterday, the delegation called on the PM and deliberated upon various investment ventures including Pakistan International Airlines (PIA), according to a statement by the Prime Minister’s Office (PMO).

Separately, Shehbaz Sharif on Wednesday assured that the government would make no compromise on the security of the Chinese workers in Pakistan.

The prime minister, in a meeting with a delegation of Shanghai Electric Group led by Chairman Wu Lei, said that the government would ensure all possible facilitation of the Chinese investors to further expand the ongoing projects.

The meeting was attended by Chairman of Thar Coal Block 1 Power Generation Company Meng Donghai, Economic Affairs Minister Ahad Khan Cheema, Energy Minister Sardar Awais Khan Leghari, Petroleum Minister Dr Musaddik Malik, Deputy Chairman of Planning Commission Muhammad Jahanzeb and relevant senior officers. He urged the Chinese firms to switch the power plants from imported to the local coal and increase their investment in the coal mining sector.

In the meeting, the prime minister was briefed about the projects being executed by the Shanghai Electric Group. Citing cordial and time-tested ties with China, PM Shehbaz said that Pakistan desired to further promote its friendly ties and strengthen economic partnership with the country.

The Shanghai Electric Group was currently working on Thar Coal mine development and a 1320MW coal power project. It was told that Shanghai Electric Group was one of the biggest firms engaged under the China Pakistan Economic Corridor in Pakistan. The Thar Coal projects executed by the Group were annually saving around $400 million. District Inspector General (DIG) of Malakand said that a suicide bomber rammed an explosives-laden vehicle into a convoy of foreign nationals that was on its way from Islamabad to their camp in Dasu, Shangla.

“Five Chinese nationals and their Pakistani driver were killed in the attack,” the police officer said.