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Riyadh eyes significant investment in Pakistan, Saudi FM says
Saudi Arabia’s foreign minister said on Tuesday that Riyadh will be “moving ahead significantly” to invest in projects in Pakistan, days after Islamabad announced that the Kingdom had pledged to expedite $5 billion in investment, Reuters reported.
Prince Faisal bin Farhan bin Abdullah arrived in Islamabad on Monday to lead a delegation on a two-day visit as part of efforts to boost economic cooperation.
His Pakistani counterpart Ishaq Dar told a joint news conference that Pakistan gave extensive briefings to the delegation on potential investment projects.
Dar outlined areas of interest for Saudi investors such as agriculture, mining, information technology and aviation.
The prince said he was very impressed with the briefings on the investment opportunities, read the report.
“This gave us some very, very significant confidence that we will be able to move forward on those projects which we decide to identify as a worthy of investment,” he said, adding, “I am sure we will be moving ahead significantly.”
The delegation came to follow-up on the understanding reached between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman during their recent meeting in Makkah Al Mukarramah to enhance economic cooperation between the two countries.
Sharif met with the crown prince last week and discussed expediting a planned $5 billion investment package, which cash-strapped Pakistan desperately needs to shore up its dwindling foreign reserves and fight a chronic balance of payment crisis.
The Special Investment Facilitation Council (SIFC), a body consisting of Pakistani civilian and military leaders set up to promote investment in Pakistan, briefed the delegates to showcase various sectors for investment, Dar said.
The visit came ahead of Pakistan seeking a 24th bailout from the International Monetary Fund. Pakistan Finance Minister Muhammad Aurangzeb is in Washington to attend the IMF, World Bank spring meetings where he will open formal talks for the new loan programme, Reuters reported.
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Goods transporters to go on strike from Saturday after talks with Pakistan govt fail
However, the minister has assured the transporters that he would discuss their demands, and the next round of talks would be held on Monday morning.
Goods transporters and oil tanker operators began suspending their services on Friday night after negotiations with the Pakistani government failed, ahead of their nationwide wheel-jam strike scheduled for Saturday.
All Pakistan Goods Transport Itehad spokesman and All Pakistan Goods Transport Owners Association President Mohammad Owais Chaudhry Advocate told Dawn that talks with Federal Minister for Communications Aleem Khan and other government officials had failed.
He said the negotiations ended without a breakthrough, prompting transporters, including edible oil tanker operators, petroleum oil tanker operators, truckers, trailer operators and other intercity transporters, to proceed with their previously announced strike.
“We have informed the government side about the problems we are facing and our concerns,” Chaudhry said, adding that the strike would continue until their demands were accepted.
However, the minister has assured the transporters that he would discuss their demands, and the next round of talks would be held on Monday morning.
The unified body of transporters had already announced that it would begin its wheel-jam strike from August 8, and warned that it would not be a token strike but an indefinite one.
“Commercial goods carriers across the country have already been taken off the roads and will remain stationed at designated places during the protest period,” Chaudhry said.
Among the key demands of the transporters is the uniform enforcement of axle-load limits across the country and permission for 10-wheel vehicles to carry up to 35 tonnes.
They have also demanded reductions in diesel prices and toll taxes, besides seeking relief in withholding tax to ease the financial burden on the transport sector.
The transporters have also called for the withdrawal of customs provisions that, according to the association, allow authorities to confiscate vehicles carrying goods found to be in violation of customs laws.
Other demands include the withdrawal of the Punjab Highway Patrol’s powers to issue challans to commercial vehicles, an end to what the association described as unnecessary challans and excessive fines on motorways and highways, and measures to facilitate the issuance of heavy transport vehicle licences to drivers.
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Iran FM calls for regional self-reliance and ‘true brotherhood’
“Iran’s powerful armed forces have shown their readiness, capability and might in the face of the world’s most expensive military,” Araghchi wrote.
Iranian Foreign Minister Abbas Araghchi has called on neighbouring countries to strengthen regional cooperation and rely more on their own capabilities, saying Iran’s armed forces have demonstrated their ability to confront a powerful military.
Araghchi made the remarks in a post on X, where he praised the readiness and capabilities of Iran’s armed forces.
“Iran’s powerful armed forces have shown their readiness, capability and might in the face of the world’s most expensive military,” Araghchi wrote.
The Iranian foreign minister also called for greater unity among Muslim countries, saying that collective action could help the region confront external challenges.
“When Muslims stand together, we can face every challenge by malicious outsiders head-on,” he said, concluding with a call to “rely only on ourselves and embrace true brotherhood.”
Araghchi’s remarks come amid heightened regional tensions and months of conflict involving Iran, Israel and the United States. Tehran has repeatedly called for stronger regional cooperation while warning against foreign military intervention in the region.
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Trump says he thinks war with Iran will end ‘pretty soon’
Trump said U.S. defense companies were building more production plants, including facilities for Patriot and Tomahawk missiles.
U.S. President Donald Trump on Thursday told reporters that he believed the war with Iran would be over soon and said the armed forces were experiencing issues with supplies of some weapons, Reuters reported.
“I think it’s going to end pretty soon. I don’t think they can go much longer,” Trump said in the Oval Office in a reference to Iran.
Reuters reported on Tuesday that the U.S. Army had used up much of its global stockpile of highly accurate long-range missiles during its five-month war with Iran.
When asked about the status of munitions stockpiles, Trump said the country had an almost unlimited supply of certain weapons but acknowledged inventories of others were limited.
“We have certain types of munitions that are very powerful, that we have unlimited, virtual unlimited supply. We have others where it’s a little bit tighter,” Trump said.
Trump said U.S. defense companies were building more production plants, including facilities for Patriot and Tomahawk missiles, read the report.
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