He stated that prior to the country’s hosting of the Shanghai Cooperation Organization (SCO) meeting on October 15-16, a Saudi Arabian delegation is anticipated in the country.
From October 9 to 11, a Saudi delegation led by Investment Minister Khalid Bin Abdulaziz Al-Falih will travel to Pakistan.
It is anticipated that representatives from both government agencies and the private sector will attend, indicating a broadening of the economic partnerships between Pakistan and Saudi Arabia.
During the meeting of the federal cabinet, the prime minister talked about a number of positive developments, including how Saudi Arabia, the United Arab Emirates, and China helped the country win the International Monetary Fund (IMF) program by providing timely confirmation of the necessary financing assurances.
In addition, he stated that a Saudi delegation was about to visit Malaysia and that the Malaysian prime minister “had a very successful visit.”
As to conflicts with the police in Islamabad during the SCO debatable, the state head focused on that this was being finished to “remain applicable” in light of the fact that the economy was moving along.
He said, “This is the same steps being taken again as the IMF programme has been started successfully, inflation has decreased, and exports are increasing,” and he added, “Homegrown growth programme is being sabotaged” by them.
According to a report published in August, Pakistan had asked Saudi Arabia to increase its lending by approximately $1.5 billion from its current portfolio of $5 billion in order to help close the external financing gap required for the 37-month bailout package provided by the IMF.
Saudi Arabia, China, and the United Arab Emirates—all three friendly bilateral partners—had confirmed to the IMF that they would roll over $12 billion in loans to Pakistan.
“Rs190 billion in daily losses as a result of law and order”: Aurangzeb In the meantime, Finance Minister Muhammed Aurangzeb stated in a televised address that the recent PTI clash in Islamabad and the attack in Karachi on Chinese citizens had not only resulted in the loss of life but also significant economic damage.
He stated, “We’ve brought economic stability so we can go toward growth.” Consider the impact on the economy if you are participating in these protests on behalf of the nation.
He emphasized that “800,000 families have suffered in Islamabad alone because of this strife,” requesting that individuals instead come to the table to negotiate.
Regarding the economic losses, the finance minister stated that the law and order situation resulted in a “Rs190 billion loss per day, including GDP, business disruption, and IT losses.”
The finance minister stated, “Yesterday, our Chinese brothers who were killed, whose precious lives were wasted, we cannot estimate a cost on them,” in reference to the terrorist attack in Karachi that left two Chinese citizens dead.
He added, “I express my condolences to the government of China and the people of China,” and that the individuals who perished were independent power producer (IPP) engineers with whom the power minister and he were negotiating debt reprofiling.
He stated, “And I am saying that this is the Chinese IPP who had extended their hand to us.” These are our brothers who have stepped up to assist us.
He emphasized, “So terrorism, strife, or strike, when our economy is stable and we are heading toward another journey, these are setbacks we cannot afford at this time — and we will not.”
“I want to appeal to everyone, my brothers and sisters, not to move in a way that hurts the economy,” I said.
