Daily Times

Prime Minister Shehbaz Sharif said on Thursday he would personally monitor the Saudi investment in different projects in Pakistan and warned against any laxity due to red tape or outdated procedures.

The premier, while chairing a meeting held to review the matters related to Saudi investment in different sectors, thanked Saudi Crown Prince Mohammed bin Salman for sending a high-level Saudi delegation that would usher a new era of Saudi investment in Pakistan, trade partnership as well as business ties.

The PM lauded the relevant federal ministers, Special Investment Facilitation Council and relevant senior officers for their efforts for converting the Saudi delegation’s visit into a mutually beneficial partnership.

He instructed the relevant authorities to engage world-class experts to execute the foreign investment projects and called for capacity building of the ministries to achieve the desired results.

Shehbaz asked the Board of Investment, SIFC and relevant ministries to devise a mechanism to ensure execution of the projects agreed with the Saudi delegation.

He told the meeting that the expected visit of a delegation of prominent Saudi businessmen to Pakistan was welcoming and that further investment opportunities would also be explored during his visit to Saudi Arabia to attend the World Economic Forum to be held in the Kingdom.

He said both Pakistan and Saudi Arabia enjoyed cordial brotherly ties and the Kingdom always supported Pakistan in every hour of need.

Shehbaz thanked the Saudi king and crown prince for their keen interest in promotion of cooperation and partnership with Pakistan.

He reiterated his government’s resolve to take all possible measures aimed at country’s progress and prosperity. The meeting was briefed about the Saudi delegation’s interest and offer for different projects as both sides had discussed investment prospects in the fields of mining, agriculture, energy, information technology and infrastructural development.

Both sides had also deliberated on making Pakistan part of global supply chain and value chain which was highly appreciated Pakistan’s preparedness in this regard.

The participants of the meeting viewed that the visit of delegations from friendly nations to explore investment opportunities was welcoming and termed it as the success of the current government on the diplomatic front.

The prime minister directed all the ministries and departments to also pay special attention to the government-to-government agreements and business-to-business projects and in this regard the local business community should be taken in confidence.

The meeting was attended by Federal Ministers Ishaq Dar, Khawaja Muhammad Asif, Jam Kamal Khan, Ahad Khan Cheema, Ataullah Tarar, Rana Tanveer Hussain, Ahsan Iqbal, Salik Hussain Chaudhry, Sardar Awais Khan Leghari, Abdul Aleem Khan, Dr Musadik Malik and others.