Prime Minister Shehbaz Sharif on Tuesday called for a renewed spirit of cooperation between the North and South for technology transfer, resource sharing and collective progress, urging developed countries to play a greater role in responding to climate challenges. Speaking at a high-level panel discussion titled “Is Humanity Heading in the Right Direction?” » At the 9th Future Investment Initiative (FII) Conference in Riyadh, the Prime Minister said humanity must move forward in unison, sharing both its resources and its challenges. During the session, the Prime Minister congratulated Saudi Crown Prince Mohammed bin Salman for hosting the event and praised his transformative vision that has reshaped Saudi society. Shehbaz warned that repeated lending is not a sustainable recovery solution, as it erodes economic resilience and hinders development. True progress, he said, requires the sharing of modern technologies to increase productivity in agriculture, industry and job-generating sectors. He urged developed countries to extend technological and financial support to countries like Pakistan, which have been hit by the consequences of climate change and environmental degradation. The prime minister said Pakistan – a country rich in natural resources – was implementing major reforms to digitalize governance, fight corruption and modernize industry. "Our Federal Revenue Bureau has been fully digitalized and we are attacking corruption with all our might…but Rome wasn’t built overnight," he remarked. He said Pakistan’s 60 per cent youth population represented both a challenge and an opportunity, adding that the government was providing vocational training and employment programs to help them unlock their potential. Recalling the devastating floods of 2022 that caused losses of around $130 billion, Shehbaz noted that despite contributing less than a fraction of 1% to global greenhouse gas emissions, Pakistan remained among the 10 most climate-vulnerable countries. He said Pakistan faces severe floods and rainstorms again in 2025, leaving the country helpless. "This is not acceptable and should not be the direction for humanity in times of crisis." he observed, calling for collective global action to support countries suffering from climate-induced disasters. He said Pakistan continued its economic recovery efforts through hard work, reforms and mobilization of youth and resources, aspiring to emerge as a self-reliant and honorable nation in the comity of states. Responding to a question during the session, Shehbaz acknowledged the transformative potential of artificial intelligence (AI) and said Pakistan was moving rapidly towards the adoption of AI and other modern technologies. He stressed the need for dialogue between the North and the South to ensure positive and inclusive use of AI. Pakistan, he said, is equipping its youth with IT skills and developing data centers requiring substantial investment. Later, on the sidelines of the FII Conference, Prime Minister Shehbaz met with World Economic Forum (WEF) Chief Executive Officer Borge Brende. The meeting, organized at the request of the WEF, included a formal invitation to the Prime Minister to attend the annual meeting in Davos in January, which he accepted, assuring that Pakistan would be well represented. During his interaction with WEF leaders, Shehbaz reaffirmed Pakistan’s keenness to deepen cooperation with the Forum’s global business and innovation network. He highlighted the government’s structural economic reforms focused on stabilization, fiscal discipline and digital transformation, while highlighting export-led growth and public-private partnerships as key policy priorities. He welcomed the WEF’s partnership on resilient food systems, essential to Pakistan’s agrarian economy, and stressed that peace remained the cornerstone of prosperity. He said Pakistan was a vital bridge connecting South Asia, Central Asia and the Middle East, expressing satisfaction over the improvement in macroeconomic indicators over the last 18 months. Shehbaz arrived in Riyadh on Monday with a high-level delegation. On Monday evening, he visited Saudi Crown Prince Mohammed bin Salman. During the meeting, the two leaders agreed to launch a “Comprehensive Economic Cooperation Framework” aimed at elevating bilateral relations to a new era of strategic economic partnership. The framework is designed to expand trade, investment and development cooperation across multiple sectors, including energy, industry, mining, information technology, tourism, agriculture and food security. The two parties reaffirmed their common commitment to building a lasting economic partnership anchored in historic fraternity and Islamic solidarity. The new arrangement will also strengthen the roles of the public and private sectors in promoting joint ventures and improving trade. The leaders reviewed key agreements and memorandums of understanding, including a power interconnection project and energy sector cooperation, marking progress toward regional energy integration. Prime Minister Shehbaz and Crown Prince Mohammed expressed optimism over the upcoming session of the Saudi-Pakistan Supreme Coordination Council, which will further institutionalize cooperation and ensure the effective implementation of joint projects under the new framework.
Prime Minister calls for North-South synergy in technology
