Daily Times

Pakistan’s Prime Minister Shehbaz Sharif met Saudi Arabia’s Deputy Interior Minister Dr. Nasser bin Abdulaziz Al-Dawood on Tuesday, with the premier expressing satisfaction over the implementation of recently signed business agreements between the two countries worth $2.8 billion, his office said.

Pakistani and Saudi businesses signed 27 memorandums of agreement (MoUs) worth $2.2 billion on Oct. 10 during the Saudi investment minister’s visit to Islamabad. The Saudi minister announced on Oct. 30 whilst Sharif was visiting the Kingdom that both sides had agreed to enhance the number of business agreements from 27 to 34 and increase their value from $2.2 billion to $2.8 billion.

Al-Dawood called on PM Sharif in Islamabad where the two leaders discussed bilateral relations, the Prime Minister’s Office (PMO) said. During the meeting, Sharif thanked the Saudi leadership and government for always supporting Pakistan.

“The Prime Minister expressed his satisfaction over the implementation of MoUs between Saudi Arabia and Pakistan with regard to Saudi Investment of 2.8 billion USD in Pakistan,” the PMO said.

The two sides also discussed the escalation in tensions in the Middle East and Israel’s war on Gaza. Sharif appreciated the Saudi leadership for holding the Arab-Islamic Summit this month and praised Saudi Crown Prince Mohammed bin Salman’s stance on the Palestine issue.

“The Prime Minister applauded the leadership role of Saudi Arabia and the efforts of HRH Crown Prince Mohammed bin Salman in unifying the Ummah to collectively seek an end to violence in Gaza due to Israel’s genocidal actions,” the PMO said.

Speaking on the importance of defense ties between Pakistan and the Kingdom, Sharif Al-Dawood’s visit would help bring the two countries closer in terms of cooperation in these areas.

Separately, Prime Minister Shehbaz Sharif has ordered action against sugar mills and dealers along with CCTV surveillance to prevent hoarding.

Prime Minister Shehbaz directed the Federal Board of Revenue (FBR), Federal Investigation Agency (FIA), and Intelligence Bureau (IB) to take joint action against sugar mills and dealers involved in tax evasion, undocumented sales, and price hikes in the sugar sector.

Following the Prime Minister’s instructions, a notification has been issued directing FBR, FIA, and IB to ensure the prevention of sales tax evasion in the sugar industry.

He emphasised that with the sugar crushing season approaching, it is essential to collect 100% of the Goods and Services Tax (GST) from sugar mills and dealers.

The Prime Minister also decided to install cameras in sugar mills to prevent hoarding and price manipulation.

He warned that strict legal action would be taken against sugar mill owners involved in tax evasion and hoarding practices.

According to the Prime Minister, the cameras will monitor the production process and stockpiling of sugar, ensuring GST payments are made, and price hikes are prevented. He stated that any increase in sugar prices would not be tolerated.

Furthermore, the Prime Minister directed stern action against the sugar mafia and called for similar measures in other sectors, such as steel, cigarettes, cement, and beverages.