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As Prime Minister Shehbaz Sharif is set to attend a special meeting of the World Economic Forum (WEF) on Sunday, the Islamic Development Bank (IDB) vowed to complete its projects in Pakistan at the earliest, Radio Pakistan reported.
PM Shehbaz will participate in the special meeting on Global Collaboration, Growth and Energy being held on April 28 (today) and Monday.
The premier — accompanied by a high-level delegation, including Foreign Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb — had landed in Saudi Arabia a day ago.
This is the prime minister’s second trip to Saudi Arabia in less than a month. He last went on a three-day visit to the kingdom, which was his first foreign visit since he was re-elected as premier.
The invitation was extended by Saudi Arabia’s Prime Minister and Crown Prince Mohammed bin Salman and WEF Executive Chairman Prof Klaus Schwab, the Foreign Office (FO) had said.
In a post on X this morning, PM Shehbaz said he looked forward to “important discussions on pressing challenges of our times” during the special meeting.
As the WEF sessions began, FM Aurangzeb took part in a talk titled ‘Opening Doors with Fintech’.
According to state-run Radio Pakistan, PM Shehbaz will spend a busy day in Riyadh, where he will meet Kuwaiti emir Mashal Al Ahmed Al Jabr on the sidelines of the WEF summit.
The premier will also meet the Saudi ministers of finance, industry and investment, as well as the co-chairman of the Bill & Melinda Gates Foundation and International Monetary Fund (IMF) Managing Director Kristalina Georgieva.
The prime minister is also expected to hold meetings with other important world leaders, heads of international organisations and important personalities on the sidelines.
IDB to complete Pakistan projects at earliest
Separately, PM Shehbaz held a meeting on Sunday with Islamic Development Bank (IDB) President Muhammad Sulaiman Al Jasser, where they both agreed upon the earliest completion of various ongoing projects of the IDB in Pakistan.
During the meeting, held on the sidelines of the WEF moot, the premier thanked the IDB for investing $1 billion in various projects during the previous PML-N-led tenure, a statement on Shehbaz’s party account said.
Both sides reviewed progress on ongoing projects and deliberated upon opportunities for future cooperation between Pakistan and the IDB.
According to Radio Pakistan, the prime minister praised the IDB’s partnership with Pakistan as instrumental in achieving the government’s sustainable development goals along with providing support for reconstruction and employment.
In the meeting, PM Shehbaz emphasised that the Special Investment Facilitation Council (SIFC) was fully functional to channelise foreign investment in the country, address all concerns of foreign investors and provide one-window operations.
While the prime minister thanked the IDB for its assistance in rehabilitation after the devastating floods of 2022, the bank’s president highlighted that Pakistan was blessed with rich natural and water resources.
Jasser noted that Pakistan’s large manpower was an asset to be utilised optimally and prayed for the country’s prosperity.
Foreign minister Dar, FM Aurangzeb, Information Minister Attaullah Tarar, Petroleum Minister Mossadegh Malik, Commerce Minister Jam Kamal Khan and Power Minister Owais Ahmed Khan Leghari were also present during the meeting.
PM Shehbaz praises SIFC role in Saudi investment
Meanwhile, in a consultative meeting with Saudi federal ministers and other Riyadh officials, PM Shehbaz lauded the SIFC’s role in the Kingdom’s investment in Pakistan, Radio Pakistan stated.
The premier stressed the need to work tirelessly day and night for the country’s progress and prosperity, warning that there was no room for laziness.
During the session, the prime minister received detailed briefings from various relevant ministries, regarding progress in investment with the Saudi government, the report added.
PM Shehbaz also consulted with the federal ministers on highlighting Pakistan’s stance at the WEF in a robust manner.
Gaza to be in focus
According to the FO, PM Shehbaz and the ministers will participate in WEF discussions on issues related to trade and investment measures, new investment frameworks, restructuring of supply chains, sustainable growth, and the energy landscape.
The FO said the high-level participation in the forum was an important opportunity for Pakistan to present its priorities “specifically in global health architecture, inclusive growth, revitalising regional collaboration and the need for striking a balance between promoting growth and energy consumption”.
FO Spokesperson Mumtaz Zahra Baloch had said PM Shehbaz would express Pakistan’s grave concern on genocide in Gaza, advocate for their right to self-determination, the imperative of solidarity, besides deliberating on Islamophobia, terrorism, and the challenges faced by the world, particularly the Muslim world. She added that the prime minister would also hold bilateral meetings with the Muslim world leaders.
A Gaza-focused session on Monday is also set to feature newly appointed Palestinian PM Mohammed Mustafa, Egyptian PM Mostafa Madbouly and Sigrid Kaag, the United Nations aid coordinator for the Gaza Strip, the statement had added.
Besides the Turkish, Jordanian and Egyptian foreign ministers, French FM Stephane Sejourne and German FM Annalena Baerbock are among the foreign diplomats travelling to Riyadh during the summit for talks on Gaza.
A day ago, PM Shehbaz had held talks with Saudi Royal Court Adviser Mohammed bin Mazyad Al-Tuwaijri on boosting economic ties.
Both sides had expressed strong interest in deepening relations, reviewed Saudi investment progress, and discussed aligning with Saudi Vision 2030, the PML-N said in a post on X. A Saudi business delegation is set to visit Pakistan soon, it added.