Cabinet approves Rs4.18t projects with KSA

ISLAMABAD: The federal cabinet has decided to accord unprecedented reception to the Saudi Crown Prince Muhammad bin Salman, who will be reaching here tomorrow (Saturday) evening, and gave approval to five projects worth Rs4.18 trillion with the Saudi Arabia.

The cabinet that had its meeting here on Thursday under Prime Minister Imran Khan at the Prime Minister Office (PMO) was briefed about the details of the visit of the royal dignitary.

The Information Minister Fawad Chaudhry while giving details about the decisions of the cabinet told the media that the upcoming visit of the Saudi crown prince is highly significant as it is a milestone among the numerous successes of the present government at the foreign policy front. He said Pakistan has once again become a key player in the Middle East politics. He reminded that Pakistan’s reconciliatory role has been recognised and Pakistan is making sincere efforts to bridge the differences between various brotherly Muslim countries.

Fawad said during the visit of the Saudi crown prince, the agreements and MoUs to be signed and the overall investment coming into the country will be more than the overall investment during the last decade. He said Saudis will invest alone in an oil refinery.

Fawad said the Prime Minister Imran Khan will himself receive and greet the Saudi crown prince and the dignitary will be given a 21 gun salute on arrival. He will hold meetings with the prime minister and president, besides attending several other meetings. The cabinet decided to provide gas and electricity to various industrial zones in the country on immediate basis to facilitate the investors. The minister said the liberalisation of visa regime and steps taken to improve ease of doing business will attract more investors. “We are making sincere efforts to bring peace to Afghanistan and the upcoming negotiations between Taliban and US will bring regional stability which will ultimately promote peace, business and prosperity in the region,” he said.

Fawad said the cabinet gave approval to the appointment of Zafar Usmani as the new chairman of the Pakistan State Oil (PSO), along with the reconstitution of its board. He said an overseas Pakistani Adnan Ghani has been appointed as the head of Zarai Taraqiati Bank Limited (ZTBL). He said his appointment gives a message that the PTI government appreciates and recognises the positive contributions of overseas Pakistanis in our economy. The minister said Naseer Khan Kashani has been appointed chairman of the Gwadar Port. He said Essential Services Act has been declared at the State Life Insurance Corporation of Pakistan. The cabinet was also briefed on the process of transferring Sheikh Zayed Hospital and other hospitals to the centre. The minister said draft proposal for the merger of Earthquake Reconstruction and Rehabilitation Authority (Erra) and National Disaster Management Authority (NDMA) was approved. The cabinet also granted approval to the Board of Pakistan Institute of Management Sciences. Fawad Chaudhry said a committee has been set up for water payment surcharge to Azad Kashmir. He said National Anti-Narcotics Policy was also laid before the cabinet.

The sources told The News that the cabinet discussed law and order situation in the country. The members impressed on the need to tighten the security measures to control the situation. The political situation prevailing in the country was also discussed by the members of the cabinet and different events also came up for discussion by the members of the federal cabinet.

Meanwhile, arrangements for the historic visit of the Saudi crown prince were threadbare discussed in a high echelon meeting chaired by Prime Minister Imran Khan. Security and other arrangements for the visit were discussed. The meeting was attended by the senior officials of different ministries and departments dealing with the visit of the royal dignitary. The Finance Minister Asad Umer, Information Minister Fawad Chaudhry, Petroleum Minister Ghulam Sarwar Khan, Adviser on Commerce Abdul Razak Dawood, SAPM Yousuf Baig Mirza, SAPM Iftikhar Durrani, Foreign Secretary Tehmina Janjua, Secretary Information Shafqat Jalil, Secretary Interior Azam Salman Khan, Secretary Finance Arif Ahmad Khan, Corps Commander Rawalpindi Lieutenant General Bilal Akbar, DG ISPR Major General Asif Ghafoor, Chairman BoI Haroon Sharif and senior officers were present during the meeting.