Islamabad:
Following the recent historic defense agreement between Pakistan and Saudi Arabia, the federal government was a committee of 18 high -level members to give new impetus and a new orientation to the bilateral economic relationship.
According to an official notification, the committee will direct the economic negotiations between the two countries within the framework of Pakistan-Saudi Arabia Economic Partnership. The decision was announced after a high -level review meeting held on October 3.
Prime Minister Shehbaz Sharif approved the training of the committee, which will oversee dialogue and coordination within the framework of the Pakistani-Saudi economic framework.
The organization includes federal ministers as well as main representatives of the Securities and Exchange Commission of Pakistan (SECP), the State Bank of Pakistan (SBP), the Federal Board of Return (FBR) and the Pakistani Embassy in Riyadh.
The Committee will be co -chaired by the Federal Minister for the Senator of Climate Change Musadik Malik and the National Coordinator of the National Council for Special Investments (SIFC) LT Gen (RETD) Sarfraz Ahmad.
The other members include the Minister of Economic Affairs Ahad Cheema, Minister of Commerce Jam Kamal, Minister of Energy Awais Leghari, Minister of Food Security Rana Tanveer Hussain, Minister of Information Technologies Shaza Fatima Khawaja, Minister of Communications Abdul Aleem Khan, President of ESCP, Akif Saeed, Minister of Dr.
According to the notification, the co -chairs will form basic negotiation teams to engage with their Saudi counterparts. Committee members are required to ensure their availability from October 6, so that the dialogue process can start quickly.
The training of the Committee reflects the growing extent of Pakistani-Saudi cooperation, which is now extending beyond defense and energy to include climate change and environmental sustainability.
The Prime Minister’s office asked the committee to accelerate negotiations with Saudi Arabia and ensure that all members remain available from October 6. He also ordered that travel approvals linked to Saudi Arabia will be processed within the hour following the submission of the request.
The notification also stipulates that the SIFC transmitted travel and logistical recommendations for the members of the Committee to the Prime Minister’s office, who will approve them in the same day, preferably within one hour.
The Committee is also empowered to coopte additional members if necessary, while SIFC will provide secretarial support. According to the notification, the committee will submit a performance report to the Prime Minister every 15 days.
Sources have said that Pakistan is expected to repeat its Saudi Arabian Arabia investment proposal in the oil and agriculture sectors in the next talks. Islamabad will also seek to improve Pakistani exports to the Kingdom, because the current trade deficit of around $ 3 billion remains in favor of Saudi Arabia.
Discussions should also include the long -delayed oil refinery project, which has remained blocked for almost a decade. Sources have added that Shehbaz Sharif is likely to visit an official visit to Saudi Arabia later this month, where he should finalize several key economic agreements.
On September 17, Saudi Crown Prince Mohammed Bin Salman and Prime Minister Shehbaz Sharif signed a Security and Historical Defense Pact – the Mutual Defense Strategic Defense Agreement (SMDA).
Under this agreement, the two countries have committed to dealing with any act of aggression against one as an act against both – a pact that some people have described as a mini -nato of this region.
