Special Investment Facilitation Council (SIFC) was functioning like one window for fast-tracking foreign investment: foreign minister

Ansar M Bhatti

ISLAMABAD: Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, who is in Islamabad on a two-day official visit, has reiterated that the kingdom will play its all-out role in the economic development of the country.

“We will keep a follow on the constructive talks held between Pakistan and Saudi Arabia,” the Saudi foreign minister said while addressing a joint presser along with Foreign Minister Ishaq Dar on Tuesday in Islamabad.  

Prince Faisal said the visit of a high-level Saudi delegation is a result of a meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed Bin Salman during the former’s visit to the kingdom.

He said the Saudi delegation is visiting Pakistan on the direction of the Saudi crown prince.

“Thank you very much for your welcome and hospitality in Pakistan,” he added.

The Saudi FM highlighted that there are various avenues to increase investment in Pakistan and added that important work in this regard will be done in the next few months

“We will work together for economic development and security of the region,” he remarked.

Replying to various queries, the two sides said reiterated to further build up and convert the strong partnership into strategic partnership and further promote economic cooperation for the mutual benefit of the two brotherly countries.

Foreign Minister Dar expressed his pleasure at the arrival of high-powered Saudi delegation, terming it as an “impressive group of dignitaries visiting Pakistan for the first time during his long political career”.

Speaking about the meetings, he said that they had discussed ways and means to transform the cordial cooperation between the two brotherly nations into strategic partnership and enhancement of investment in Pakistan.

He explained that Special Investment Facilitation Council (SIFC) was functioning like one window for fast-tracking foreign investment, adding that Pakistan was committed to strengthening its investment environment.

He expressed the hope that Pakistan would soon become a hub for investment and innovations.

He further expressed the optimism that their detailed briefings had highlighted the extensive opportunities for the Saudi investors in energy, agriculture, minerals and IT sectors.

Foreign Minister Dar said that they would ensure full support to the Saudi investment and provide conducive environment under the directives of Prime Minister Shehbaz Sharif.

Saudi Foreign Minister Prince Faisal expressed his profound appreciation for the warm welcome and hospitality accorded to him and his delegation.

The Saudi FM stressed upon the importance of strategic partnership between the two countries and expressed commitment to strengthening investment in the country.

He said that the delegation was impressed with the proactive and business focused approach of the Pakistani side.

The untapped potential in Pakistan needed to be tapped, he emphasised.

Prince Faisal bin Farhan further reaffirmed to continue working closely for economic progress and regional security with historic bilateral cooperation.

At the same presser, Pakistan and Saudi Arabia regretting the failure of the international community to ensure ceasefire in Gaza, demanded its immediate enforcement in Gaza, opening of humanitarian corridor, and averting of famine that was leading to catastrophe.

FM Dar said that Pakistan was deeply concerned over the catastrophic like situation in Gaza.

Both the brotherly countries shared the same feelings on Gaza, he said, stressing upon the international community to end the genocide.

More than 33,000 Palestinians had been killed, the world conscience must wake up and enforce an immediate and unconditional ceasefire to ensure unimpeded humanitarian aid, he added.

More Palestinians should not be killed due to starvation, he said, demanding for a global probe into crimes committed against humanity in Gaza.

Saudi Foreign Minister Prince Faisal said that in Gaza so far more than 33,000 people had been killed.

“They are now facing famine like situation and starving to death as the international humanitarian aid is not getting in. It is a complete failure of the international community,” he added.

Terming the situation as unacceptable, he said there was no justification to it.

In reality, he said, the two UN resolutions regarding immediate ceasefire in Gaza had not seen implementation.

Prince Faisal called for an immediate end to the killings and sufferings of the people of Gaza.

FAISALABAD, APR 16 (DNA) —The agriculture experts have advised the farmers to strictly adopt pre and post-harvest management strategy for their wheat crop because it can help in saving 10 percent production.

A spokesman of Agriculture (extension) department said here on Tuesday that pre and post-harvest management was imperative to save maximum production but unfortunately the growers did not bother to adopt this technique due to which more than 10 % share of the agri productivity was lost in the field or in the way to home or market.

He said that that Agriculture department had also activated its field staff to create awareness among the growers about the benefits of latest technologies so as to narrow down the gap between progressive and ordinary farmers in obtaining per acre wheat production. “Our farmer is hard-working but he loses huge portion of his produce and bears colossal economic loss due to lack of pre and post harvest management techniques”, he added.

He said that the agriculture productivity could be increased up to 10 % if the farmers adopted pre and post harvest techniques. In this connection, they should also listen to agri bulletins on radio and television regularly or consult the agriculture experts who were available in all offices of Agriculture department, he added. — DNA

ISLAMABAD, April 16 (DNA): The employees and workers of the Walton Tobacco Company have appealed the Chief Justice of Azad Kashmir to take notice of factory’s illegal closure the Chief Justice of Azad Kashmir to take notice of illegal closure of the factory by the administration demanding immediate de-sealing of the premises as families of more than 400 workers are facing critical conditions due to workers being unemployed following the closure.

The employees and workers urged the Chief Justice of Azad Kashmir for justice saying they were the victims of exploitation and were suffering due to the administration’s illegal act.

On the other hand, Spokesman Walton Tobacco Company Arif Zia said that they were receiving threats of serious consequences from the administration of Azad Kashmir.

He further said that Walton was the highest tax-paying company in Azad Kashmir, which pays 240 million rupees to the national exchequer every month.

Addressing a press conference earlier this week, Arif Zia informed that his company was raided illegally, was subsequently sealed while all the products were seized.

Leaders of factory workers Muhammad Ali and Umar Ahmed said that AJK government’s indifferent attitude was disappointing as they did not follow the due process. The government’s action was biased and based on unfounded assumptions.

They said that the factory owners were treated like thieves, which is discouraging for the highest taxpayers and would result in discouraging investor entering AJK market.

Arif Zia said that unemployment rate is increasing in Azad Kashmir due to these factors on part of Azad Kashmir government.

Earlier, workers and employees of Walton Tobacco Company held a protest demonstration at Rawalpindi Road outside the factory in Mirpur Chatrapadi, and demanded the administration to immediately de-seal the factory.

They warned the administration to expanding the scope of their protest movement in order to win their jobs and normal life back to their families who were suffering. The workers said their families could not celebrate Eid because the factory was sealed during the holy month of Ramadan.

Walton Tobacco Company spokesperson Arif Zia said that the Azad Kashmir government should first crackdown against sale of illegal cigarettes in the market.

ISLAMABAD, APR 16 /DNA/ – The Government and people of Pakistan expressed deepest sympathies and condolences at the loss of precious lives and livelihoods and damage to properties caused by heavy rains and flash flooding in several provinces of Afghanistan.

We pray that the Almighty may grant patience and fortitude to the bereaved families to bear the irreparable loss and wish a swift recovery to the injured.

WASHINGTON DC, APR 16: /DNA/ – Federal Minister for Finance and Revenue, Muhammad Aurangzeb, met with Hela Cheikhrouhou, Regional Vice President for MCT, International Finance Corporation (IFC) today.

He briefed her on the ongoing reforms in the taxation, energy and privatization sectors. Moreover, he expressed the resolve of the Government of Pakistan to work closely with IFC in the priority areas of securitization of remittances, mining, airport management and capacity-building.

RAWALPINDI, 16 APR /DNA/ – General Syed Asim Munir, NI (M), Chief of Army Staff (COAS) presided over 264th Corps Commanders’ Conference (CCC) held at GHQ.

Forum paid rich tribute to the supreme sacrifices of Shuhadas including officers and men of the Armed Forces, Law Enforcement Agencies and the citizens who have laid their lives for peace and stability in the country.

COAS appreciated the untiring efforts of Pakistan Army and LEAs in successfully thwarting several terrorist attacks and neutralising key terrorist commanders during ongoing counterterrorism operations. COAS directed commanders to pro-actively deny any space to the terrorists. COAS said, “Armed Forces and LEAs of Pakistan, fully backed by the resilient nation, remain determined to permanently eliminate this menace from Pakistan, INSHA’ALLAH”.

The forum condemned heartless terrorist attack against Chinese nationals in Besham as well as heinous killings of innocent civilians in Balochistan.  Forum was briefed on how terrorist groups operating from Afghanistan pose a threat to regional and global security, besides acting as proxies against Pakistan and its economic interests, especially China-Pakistan Economic Corridor.

Forum expressed serious concern over the ongoing Indian aggression in Illegally Occupied Jammu and Kashmir (IIOJK). Forum reiterated that Pakistan will continue to provide political, diplomatic and moral support to our Kashmiri brothers and sisters.

The forum expressed solidarity with the people of Palestine and condemned serious human rights violations, war crimes and genocide being perpetrated in Gaza.

The forum also expressed concern over the escalating tensions in the Middle East and noted that a wider regional conflict could ensue if both sides did not de-escalate immediately.

Forum noted with concern the malicious propaganda campaign meant to demoralise the Armed Forces and underscored that “Unfounded and baseless allegations on Law Enforcement Agencies and Security Forces have become a fashion and are part of the larger design to drive a wedge between the people and the Armed Forces of Pakistan. We will not allow such efforts to succeed and as per the law and constitution, stern action will be ensured”.

Forum resolved to provide full support to the government towards achieving sustainable socioeconomic growth in the country including wholehearted assistance in countering the illegal spectrum, particularly smuggling, hoarding, electricity theft and safe repatriation of all illegal foreigners.

COAS directed field commanders to ensure the highest standards of operational preparedness and motivation within their outfits and to pursue professional excellence through objective training.

ISLAMABAD, APR 16 /DNA/ – Foreign Minister Ishaq Dar has welcomed Saudi Foreign Minister Faisal bin Farhan at the Ministry of Foreign Affairs. The two Foreign Ministers will hold comprehensive talks to lend a positive impetus to bilateral cooperation and developing an enduring and mutually rewarding economic partnership.

Pakistan-Saudi Arabia Investment Conference held in Islamabad

ISLAMABAD, APR 16 /DNA/ – The high-level Saudi delegation led by His Highness Prince Faisal bin Furhan Al Saud, attended the ‘Saudi Arabia-Pakistan Investment Conference’ held in Islamabad today.

The Foreign Minister Mohammad Ishaq Dar warmly welcomed the Saudi Delegation at the Special Investment Facilitation Council, emphasizing the deep-rooted ties and mutual strategic interests between Pakistan and Saudi Arabia. He highlighted the significance of enhanced bilateral strategic and economic partnership and the crucial role of Saudi investments in nurturing this relationship. He explained how Pakistan through the SIFC platform aimed to streamline investment processes and ensure rapid decision-making, fostering a flourishing investment-friendly environment in Pakistan. He showcased Pakistan’s abundant opportunities in agriculture, IT, and mining sectors, inviting Saudi investors to engage in mutually beneficial partnerships.

The Foreign Minister expressed confidence in the strengthened bonds between the two countries, envisioning significant economic growth and lasting benefits. He concluded with a call for constructive engagement and collaboration towards mutual prosperity and development.

The SIFC officials gave comprehensive briefings encompassing the potential and investment opportunities in key sectors of Pakistan’s economy. Both sides held exhaustive deliberative sessions at functional level to crystallize investment opportunities in Pakistan.

The Saudi side expressed great significance and interest in the improving investment ecosystem in Pakistan, appreciated SIFC’s role in amicable resolution of KSA’s legacy investment/business related issues, and showed keen interest to invest in key sectors of Pakistan. The Pakistan side assured the Saudi side of maximum support and facilitation in fast-tracking the Kingdom’s prospective multibillion dollars investments in Pakistan.

The two sides also finalized a bilateral implementation mechanism to closely coordinate and execute investment related matters at the functional level to turn the sovereign commitments into tangible economic outcomes.

ISLAMABAD, APR 16 /DNA/- Foreign Minister, Mohammad Ishaq Dar, received a telephone call from the U.S. Secretary of State, Antony Blinken, today.

Both sides reiterated their dedication to strengthening bilateral cooperation across all spheres of mutual interest. A wide range of bilateral issues including enhancing trade and investment relations, climate change, agriculture and security came under discussion. Various matters of regional importance such as situation in Gaza, the Red Sea and developments in Afghanistan were also discussed.

Both sides expressed satisfaction at the current positive momentum in bilateral relations.