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Pakistan, Saudi Arabia Likely To Sign MoUs Worth More Than $10bn

He said that four Malaysian firms were also due this month and would invest in four sectors - halal meat, gemstone, information technology and hi-tech education

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Imran Khan, taliban
Pakistan Decides To Shelve Major CPEC Power Project. VOA

Pakistan and Saudi Arabia are likely to sign memoranda of understanding (MoU) worth more than $10 billion this month, the media reported on Thursday.

The announcement was made at the second meeting on ease of doing business (EoDB) presided over by Prime Minister Imran Khan on Wednesday.

Speaking to Dawn news after the meeting, Finance Minister Asad Umar said Saudi Prince Mohammad bin Salman bin Abdulaziz would visit Pakistan next month and most of the MoUs were expected to be signed during his trip.

Board of Investment (BoI) Chairman Haroon Sharif said Saudi Arabia was interested in Pakistan’s four sectors – oil refinery, petrochemicals, renewable energy and mining.

“According to a survey, 65 per cent of the investments will take place in the country’s commercial hub Karachi and 35 per cent in Lahore,” he added.

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Imran Khan, wikimedia commons

The $10 billion investment will be in addition to the $6 billion bailout package given by Riyadh to Islamabad during Khan’s visit to Saudi Arabia in October 2018.

Similarly, Pakistan will also sign MoUs with China, the United Arab Emirates (UAE) and Malaysia over the next two months.

Sharif told Dawn that he had recently visited China and signed MoUs on industrial cooperation under the China-Pakistan Economic Corridor (CEPC).

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The BoI chief said the UAE was interested in agriculture, housing and other sectors.

He said that four Malaysian firms were also due this month and would invest in four sectors – halal meat, gemstone, information technology and hi-tech education. (IANS)

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Pakistan Slips Two Places on Annual Global Index on Peacefulness, Finishing at 153 among 163 Countries

In its annual report, the Institute for Economics and Peace presented a comprehensive data-driven analysis on peace, economic value, trends

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Pakistan, Global, Peacefulness
The index was released on the occasion of the International Day of Peace on September 21. It's also known as World Peace Day. Pixabay

Pakistan has slipped two places on the annual global index on peacefulness, finishing at 153 among 163 countries. The index was released on the occasion of the International Day of Peace on September 21. It’s also known as World Peace Day.

In its annual report, the Institute for Economics and Peace presented a comprehensive data-driven analysis on peace, economic value, trends and how to develop peaceful societies.

The Sydney-based think-tank said the global peacefulness improved slightly in 2019. But overall peacefulness has deteriorated 3.78 per cent since 2008.

While Iceland continues to top the Global Peace Index (GPI) as the world’s most peaceful place, Afghanistan has replaced Syria as the most violent place.

Pakistan, Global, Peacefulness
Pakistan has slipped two places on the annual global index on peacefulness, finishing at 153 among 163 countries. Pixabay

India, together with the Philippines, Japan, Bangladesh, Myanmar, China, Indonesia, Vietnam and Pakistan are the nine countries with the highest climate hazard risk.

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India also has the seventh-highest overall natural hazard score in the world. (IANS)