Oct 242018
 
Saudi Arabia has placed no conditions in exchange for bailout money, assures Qureshi

Foreign Minister Shah Mahmood Qureshi on Wednesday assured that Saudi Arabia had placed no conditions in exchange for the bailout money it pledged to Pakistan during the premier’s visit to the Kingdom to attend an investment conference, DawnNewsTV reported. He made these remarks on Wednesday during an informal conversation with media persons in Islamabad. “We have received a total package of $6.2 billion,” the minister said. FM Qureshi said there has been no change in Pakistan’s role in the Islamic military alliance and asserted that “a clear message has been conveyed to the United States that dialogue is the only way forward when it comes to the Afghanistan issue”. “Unless and until the Taliban are integrated into the system, it is not possible to move forward [to address the Afghanistan issue],” he said. “The US itself is currently trying for initiating talks with the Taliban. It is wrong to say that Pakistan must do everything. The Taliban are not in our pockets,” FM Qureshi commented. Also read: Shah Mehmood Qureshi: Always next in line Speaking about the war-torn region of Yemen, the foreign minister said that Pakistan’s stance will remain the same, in that, the state does not believe in a military solution to the problem. “We will not send our forces there,” he affirmed. Referring to the Pak-Iran gas pipeline project, he said that there were difficulties in completing the project due to the fact it was marred by multilateral sanctions imposed by the United Nations and unilateral sanctions [Read More…]

Oct 232018
 
Saudi Arabia agrees to provide Pakistan $3 billion to address balance-of-payments crisis

Saudi Arabia has agreed to provide Pakistan $3 billion in foreign currency support for a year to address its balance-of-payments crisis, the government announced on Tuesday. The Kingdom has also agreed to provide Islamabad a one-year deferred payment facility for import of oil, worth up to another $3 billion. The agreements in this regard were signed during the visit of Prime Minister Imran Khan to Saudi Arabia to attend the Future Investment Initiative (FII) conference, a trip he undertook on the invitation of King Salman bin Abdul Aziz Al-Saud. According to a press release issued by the government, several far-reaching decisions on bilateral economic and financial cooperation were reached during the discussions held between Pakistani and Saudi officials: It was agreed that Saudi Arabia will place a deposit of US $3 billion for a period of one year as balance-of-payment support. A memorandum of understanding (MoU) was signed in this regard between Finance Minister Asad Umar and his Saudi counterpart Muhammad Abdullah Al-Jadaan. It was also agreed that a one-year deferred payment facility for import of oil, up to $3 billion, will be provided by Riyadh. This arrangement will be in place for three years, after which it will be reviewed. Saudi Arabia also “confirmed its interest” in investing in a petroleum refinery in Pakistan. An MoU for this project will be signed after obtaining the cabinet’s approval. The Kingdom also expressed interest in the development of mineral resources in Pakistan. In this regard, the federal government will hold consultations [Read More…]

Sep 182018
 
Imran reaches Saudi Arabia amid reports Pakistan may seek aid

ISLAMABAD: Prime Min­ister Imran Khan reached Saudi Arabia on his first foreign visit after assuming office. He is accompanied by Foreign Minister Shah Mehmood Qureshi, Finance Minister Asad Umar, Information Minister Fawad Chaudhry and Adviser on Commerce Abdul Razzak Dawood. Upon arrival at Prince Moh­am­med bin Abdulaziz Inter­national Airport, Prime Minister Khan was received by Prince Faisal bin Salman bin Abdulaziz, Governor of Madina and Pakistan’s Amb­assador to Saudi Arabia Khan Hisham bin Siddique along with other officials. In Madina, the prime minister and his delegation visited Masjid-i-Nabawi where the doors of Prophet Muhammad’s (peace be upon him) final resting place were opened for them. The delegation offered Maghreb prayers at Riyadhul Jannah. Later, the delegation travelled to Jeddah where Prime Minister Khan is scheduled to call on King Salman and hold a bilateral meeting with Crown Prince Mohammad bin Salman bin Abdulaziz to discuss re­gional and international issues. The Saudi King will also host a state banquet for the prime minister at the Royal Court, said an official statement. Secretary General of the Organi­sation of Islamic Cooperation Dr Yousef bin Ahmad Al-Othaimeen will also meet Prime Minister Imran Khan. Pakistan is a leading and active member of the organisation. The prime minister and his delegation will arrive in Abu Dhabi on Wednesday evening. Prime Minister Khan’s decision to choose Saudi Arabia as the destination of his first official visit abroad has given rise to speculations that Pakistan will seek Riyadh’s economic assistance instead of going for a bailout package [Read More…]

Jan 092018
 
Pakistan condemns ballistic missile attack on Najran in Saudi Arabia

Islamabad, January 09, 2018 (PPI-OT):The Government of Pakistan condemns the ballistic missile attack by Houthi militia on the city of Najran in Saudi Arabia on 05 January 2018. Pakistan commends the Government of Saudi Arabia for destroying the missile before it caused any civilian casualties. It is however concerned at reports that there was some damage to property. The Government reiterates its full support and solidarity with the leadership, the Government and people of Saudi Arabia against any threats to its territorial integrity and threats against Harmain Sharifain. For more information, contact: Spokesman Ministry of Foreign Affairs Government of Pakistan Tell: +92-51-9205494 Fax: +92-51-9204202 Cell: +92-336-5644459 Website: www.mofa.gov.pk

Nov 042017
 

RIYADH: Saudi Arabia on Saturday intercepted and destroyed a “ballistic missile” northeast of the capital Riyadh after it was launched from Yemen, state media reported. “Saudi Air Defense intercepts ballistic missile northeast of Riyadh,” Saudi state TV said. State-run news channel Al-Ekhbariya said the missile “was of limited size (and) no injuries or damage” were reported. Yemeni rebel missile shot down near Makkah The missile was destroyed near Riyadh’s King Khaled international airport, which was functioning normally, it added. Yemen’s Iran-backed Huthi rebels claimed they had fired the missile, targeting the airport, the Huthis’ Al-Masirah television said. Saudi Arabia’s southern neighbour Yemen has been torn apart by a war between the Saudi-backed government of President Abedrabbo Mansour Hadi and Huthi rebels backed by Iran. Saudi Arabia agrees to buy Russian S-400 air defence system A Saudi-led coalition intervened in 2015 to prop up Hadi’s government after the Huthis seized the capital Sanaa. The rebels continue to hold much of the country. United Nations-backed talks have failed to broker a political settlement to end the fighting, which has left more than 8,600 people dead since the coalition intervened. Saudi Arabia says 3 civilians killed by missile fired from Yemen A cholera outbreak has claimed more than 2,100 lives in Yemen since April as hospitals struggle to secure supplies amid a coalition air and sea blockade. The United Nations has warned Yemen now stands on the brink of famine. The post Saudis intercept ‘ballistic missile’ fired by Huthi rebels near Riyadh appeared first [Read More…]