Ibrahim Al Mubarak, the deputy minister of investments for Saudi Arabia, stated on Monday that his nation thought Pakistan was the best place to invest and wanted to see it flourish economically.

Speaking at the opening ceremony of the two-day Pakistan-Saudi Arabia Investment Forum 2024 in Islamabad, he stated that Saudi entrepreneurs were open to making investments in a variety of industries and that a significant portion of Pakistanis were contributing significantly to the growth of the kingdom.

ON THE DRIVING SEAT: PRIVATE SECTOR

Muhammad Aurangzeb, the finance minister, stated in his speech that the private sector should take the “driving seat” in order to revitalise the economy.

The finance minister stated, “The ministers and bureaucracy would have to lay back,” adding that the role of the government was to establish a framework.

According to Aurangzeb, the finance ministry was always there to support traders and company owners as he pursued economic reforms as part of the government’s objective.

Using the better rupee exchange rate as an example, he claimed that successful policies were bringing about economic stability.

The minister also mentioned that the government was trying to draw in foreign investment, but he also emphasised the need for continued policies to maintain economic stability and urged collaboration between the public and private sectors to build a robust economy.

Investing in Saudi Arabia

A high-level group of 50 Saudi businesspeople and investors, together with government representatives, arrived in Pakistan earlier on Sunday to attend an event aimed at encouraging investment from the oil-rich Gulf State.

Continue reading: Saudi entrepreneurs arrive in Islamabad as Pakistan seeks foreign investment

This happened only a few days after Saudi Arabia hosted Prime Minister Shehbaz Sharif for a Special Meeting on Global Collaboration, Growth, and Energy for Development in Riyadh. During his visit, he also had talks on a number of topics with Crown Prince Mohammed bin Salman.

SUMMARY CONVERSATIONS

The audience was informed by Commerce Minister Jam Kamal that every attempt would be made to facilitate international investors and have fruitful discussions between Pakistan and Saudi Arabia.

Representatives from thirty Saudi firms made the comments while in Pakistan looking for opportunities to engage in a range of industries, such as agriculture, aviation, human resources, and minerals.

Islamabad has been depending on Saudi investment to spark economic activity in the nation, which will not only boost investor confidence domestically but also aid in persuading businessmen from other countries to prioritise Pakistan, given that the country’s economy is crippled by inflation and high interest rates.

Not a shortage of proficient labourers

In his speech, Saudi Arabia’s Minister of Petroleum, Musadik Malik, emphasised the country’s recent rapid progress as well as the necessity of deepening the two countries’ already-existing bilateral relations.

He claimed that Gwadar would soon become a global transit hub and that Pakistan possessed abundant mineral riches. Malik assured the audience that Pakistan did not lack skilled labour.

It’s a narrative in progress. Details will be provided later.

The national squad left Karachi earlier today to play three Twenty20 Internationals and three One-Day Internationals in the series.

Dr. Muhammad Faisal, Pakistan’s High Commissioner in England, greeted the women’s team and management.

The team will soon depart for Leicester to play a practice match on 9 May against the ECB Development XI. On May 11, in Birmingham, the first Twenty20 International will take place.

Notably, this will be Pakistan’s eighth and final series of the current event cycle. The ODIs in the series are a part of the ICC Women’s Championship 2022–25.

Pakistan women squad for England tour

Nida Dar (captain), Aliya Riaz, Ayesha Zafar, Diana Baig, Fatima Sana, Gull Feroza, Muneeba Ali (wk), Najiha Alvi (wk), Nashra Sundhu, Natalia Parvaiz, Rameen Shamim, Sadaf Shamas, Sadia Iqbal, Sidra Amin, Tuba Hassan, Umm-e-Hani and Waheeda Akhtar

Player support personnel: Nahida Khan (manager), Mauhtashim Rasheed (interim head coach), Saleem Jaffar (bowling coach), Taufeeq Umar (batting coach), Hanif Malik (fielding coach), Syed Nazir Ahmed (media manager), Rabia Siddiq (physiotherapist), Zubair Ahmed (analyst) and Hina Munawar (chief security officer)

Tour Schedule

9 May – T20 warm-up game v ECB Development XI, Uptonsteel County Ground (11.00 am local time)

11 May – 1st T20I, Birmingham (2.30 pm local time)

17 May – 2nd T20I, Northampton (6.30 pm local time)

19 May – 3rd T20I, Leeds (1.00 pm local time)

21 May – One-Day warm-up game v ECB Development XI, Northampton (11.00 am local time)

23 May – 1st ODI, Derby (1.00 pm local time) (ICC Women’s Championship)

26 May – 2nd ODI, Taunton (11.00 am local time) (ICC Women’s Championship)

29 May – 3rd ODI, Chelmsford (1.00 pm local time) (ICC Women’s Championship)

Three people were killed instantly and numerous others were gravely injured when a van collided with a caravan at the motorway M9 in Hyderabad, according to authorities. The incident happened within the authority of the Bula Khan police station.

Upon receiving notification, rescue teams arrived at the scene and took the deceased and injured to LMU Hospital Jamshoro. The majority of the wounded were in critical condition, according to rescue sources, and the death toll could still go up.

When a bus in Diamer, Gilgit-Baltistan, plunged into a deep ravine last week, at least twenty people were murdered and twenty-one more were injured.

The collision happened near the Yashukhaldas neighbourhood of Diamer on the Karakoram Highway, according to the reports. Once the driver lost control, the bus plunged into a gorge while it was driving from Rawalpindi to Hunza.

Rescue crews arrived on the scene and took the injured and deceased to Chilas Medical Centre. As most of the injured were in serious condition, rescue sources warned that the death toll could still go up.