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Pakistan to Seal $2 Billion Agreements with Saudi Delegation
Prime Minister Shehbaz Sharif announced that Pakistan will sign agreements worth $2 billion with an upcoming Saudi delegation. The announcement was made during a federal cabinet meeting on Tuesday.
Saudi Delegation’s Visit and Objectives
The Saudi delegation, led by Minister for Investment Khalid Bin Abdulaziz Al-Falih, will visit Pakistan from October 9 to 11. This visit comes just before the Shanghai Cooperation Organisation (SCO) summit, which will be held in Pakistan on October 15-16. The delegation comprises both government officials and private sector representatives and aims to boost Pakistan-Saudi economic ties through multiple agreements.
Key Cabinet Approvals
During the cabinet meeting, several significant agreements were also ratified. These included:
- Subsidies for the Fishing Sector: The cabinet approved subsidies in line with World Trade Organisation (WTO) decisions, aimed at supporting the fishing industry.
- Sister Ports Agreement: Another key agreement was the designation of Gwadar Port and Shanghai Port as sister ports, as recommended by the Ministry of Maritime Affairs.
- MOUs with Rwanda and Ghana: The cabinet ratified memorandums of understanding (MOUs) for bilateral political consultations with Rwanda and Ghana.
- Judicial Authority Expansion: Judicial magistrates in Gwadar and Hub were granted the authority to hear narcotics cases, following a recommendation by the Ministry of Law and Justice.
E-Governance and Digital Transformation
The Ministry of Information Technology and Telecommunications updated the cabinet on the progress of the e-office system across federal ministries. According to the Prime Minister’s Office, this e-governance initiative has improved Pakistan’s ranking by 14 positions in the United Nations’ E-Government Development Index (EGDI). The Prime Minister directed further improvements in the system and requested a progress review in two weeks.
