February, 22, 2024
Caretaker PM Secures Kuwait Deals for Pakistan

Caretaker PM Secures Kuwait Deals for Pakistan

Infostani Sources- On Wednesday, caretaker Prime Minister Anwar ul Haq visited Al Bayan Palace to meet Kuwaiti leadership, where Kuwait’s First Deputy Prime Minister and Interior Minister Sheikh Talal Al Khalid Al Ahmad Al Sabah warmly received him. The Kuwaiti Emiri Guard presented a guard of honor to the Prime Minister, accompanied by the playing of national anthems from both countries. Army Chief General Syed Asim Munir also attended the meeting.

During the encounter, the leaders highlighted the significance of the longstanding brotherly relations between Pakistan and Kuwait. They expressed a mutual commitment to enhancing these ties by transforming them into a mutually beneficial economic partnership. The leaders jointly participated in a ceremony where they signed 7 agreements and 3 memoranda of understanding between the two nations.

Caretaker PM Seals Billions in Kuwaiti Investments Across Key Sectors

Leaders discussed Kuwait’s substantial investments, totaling billions of dollars, across diverse sectors in Pakistan. Including food security, agriculture, hydroelectric power, clean water supply, and cooperation in mining activities. The agreements also covered the establishment of a mining fund, the development of technology zones, and the protection of mangroves. Additionally, the leaders signed 7 agreements and 3 memoranda of understanding to collaborate in culture and art. As well as in the fields of environment and sustainable development.

Caretaker PM Secures Kuwait Deals for Pakistan
Expressing great satisfaction with the progress in bilateral relations, the leaders pledged to maintain close communication. Also, take prompt measures to further strengthen and deepen the ties between Pakistan and Kuwait.

The caretaker Prime Minister called these agreements with Kuwait another milestone in the many initiatives emerging for the country. Through the Special Investment Facilitation Council (Alice IFC) platform. On this occasion, the caretaker Prime Minister expressed prayers for the recovery of the Emir of Kuwait, Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah. Later, caretaker Prime Minister Duroza completed an official visit to Kuwait and arrived in Dubai to attend the COP 28 meeting. Kuwait’s Minister of Electricity, Water, and Renewable Energy, Dr. Jassim Muhammad Abdullah Al-Astad, Pakistan’s Ambassador to Kuwait, Malik Muhammad Farooq. As well as senior diplomatic officials from both countries bid farewell to the Prime Minister.

Saudi Arabia Extends $3 Billion Deposit to Bolster Pakistan’s Economy

The Saudi Fund for Development (SFD) has prolonged the duration of the $3 billion deposit from Saudi Arabia. Set to expire on December 5, 2023, by an additional year to stabilize Pakistan’s economy. Pakistan holds this deposit in the State Bank of Pakistan (SBP). The extension of the deposit period signifies Saudi Arabia’s ongoing support for Pakistan. Aiming to uphold the country’s foreign exchange reserves and foster economic development. It’s crucial to note that SFD and the State Bank initially established the agreement for this $3 billion deposit in 2021.

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