Will personally monitor Saudi investment projects; no laxity to be tolerated: PM


Prime Minister Muhammad Shehbaz Sharif on Thursday said that he would personally monitor the Saudi investment projects and warned against any laxity due to red tape or outdated procedures. The prime minister, chairing a meeting to review the matters related to the recent high-powered Saudi delegation and Saudi investment in different sectors, thanked Saudi Crown Prince Mohammed bin Salman for sending a high-level Saudi delegation that would usher new era of Saudi investment in Pakistan, trade partnership as well as business ties.

He 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 authorities concerned to engage world-class experts to execute the foreign investment projects and called for capacity building of the ministries to achieve the desired results. He 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 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 inevery hour of need. Prime Minister 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 concerned 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 Mohammad 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, Minister of State Shaza Fatima Khawaja, Special Assistant Tariq Fatemi, Deputy Chairman Planning Commission Muhammad Jehanzeb Khan, members of National Assembly Bilal Azhar Kayani and Rumina Khursheed Alam, Coordinator of the prime minister Rana Ehsan Afzal and other relevant authorities.