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DigiNews.Live > Blog > Latest News > The MBS is anticipated to arrive shortly to finalize investment agreements.
Latest News

The MBS is anticipated to arrive shortly to finalize investment agreements.

Last updated: 8 May 2024 5:05 AM
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The MBS is anticipated to arrive shortly to finalize investment agreements.
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The MBS is anticipated to arrive shortly to finalize investment agreements.

Amidst a series of engagements aimed at enhancing trade relations between Pakistan and Saudi Arabia, Crown Prince Mohammed Bin Salman is scheduled to visit Pakistan later this month to finalize agreements currently under negotiation between Islamabad and Riyadh.

Foreign Minister Ishaq Dar stated that Pakistan had not yet received any official dates for the visit, despite media reports suggesting that the visit was likely to take place between May 10-15.

Version 1:
Foreign Minister Ishaq Dar mentioned that the visit of the crown prince, who had accepted Prime Minister Shehbaz Sharif’s invitation, was still pending confirmation of the dates. Media reports had speculated that the visit might occur from May 10-15, but no official communication had been received by Pakistan.

Version 2:
According to Foreign Minister Ishaq Dar, the visit of the crown prince, who had accepted Prime Minister Shehbaz Sharif’s invitation, was still in the planning stages. While media reports indicated a possible visit between May 10-15, Pakistan had not yet been informed of the official dates.

FM Dar stated that the interactions with the Saudi business executives were extensive and the delegation departed with a profound admiration for Pakistan’s progress on the matter. He emphasized that significant endeavors such as Reko Diq and petrochemicals would be initiated by the government, while the private sector would actively engage in augmenting trade volume and establishing joint ventures.

Pak-Iran gas pipeline

Regarding the long-stalled project, the foreign minister stated that Islamabad would make a decision based on its national interest and the commitments it had made.

In reference to external pressure, particularly from the US, the minister emphasized that Pakistan would not allow anyone to dictate to them or exercise veto power.

He expressed Pakistan’s expectation for other countries to respect its sovereignty, just as Pakistan respects theirs.

Following the recent visit of the Iranian president to Pakistan, both nations called for increased cooperation in the energy sector, with the gas pipeline project being mentioned. However, they did not disclose their plans on how to proceed in light of the US sanctions against Iran.

Additionally, Ishaq Dar announced his upcoming three-day visit to China from May 13 to May 15 for a strategic dialogue with his Chinese counterpart, Wang Yi. This visit will be the foreign minister’s first trip to Beijing since the new government took office. Planning Minister Ahsan Iqbal is expected to visit China prior to Dar’s trip.

Ishaq Dar, the former head of the Economic Coordination Committee during the last tenure of the PML-N government, addressed the ongoing wheat crisis by stating that he did not authorize a summary for wheat import that was presented to him before the government’s term ended in August. Dar explained that the relevant ministry failed to convince him of the necessity for importing wheat, leading to his decision to reject the summary.

PTI-US envoy meeting

The foreign minister verified that the Foreign Office had arranged a meeting between US envoy Donald Blome and Opposition Leader Omar Ayub at the request of the US embassy.

This was part of a wider series of interactions that the US embassy pursued with various Pakistani political figures, both from the government and opposition, in March.

“It was the US envoy’s idea,” Mr Dar stressed.

The PTI was criticized by its rivals for engaging with the US envoy, given its previous claims that the US conspired to remove PTI leader Imran Khan as prime minister. The party, however, clarified that the meeting was facilitated by the FO and not requested by the PTI.

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TAGGED:MBSMohammed Bin Salmanpakistansaudi arabiaWellness

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