Saudi Arabia will extend its support to Pakistan on the peaceful resolution geographic area dispute and buttress its role in to succeed in a political settlement of ambience. Hopefully, this sincere and clean political leadership has the aptitude and determination to require the interdependent relations to any or all time high level. Saudi Foreign Minister Prince blatantly responded to Indian journalist and debacle the position of India as is consistently inciting false allegations against Pakistan without any proper investigation. Adel Al-Jubeir also lauded the efforts of Pakistan against terrorism.
The visit of Saudi prince Muhammad Bin Salman has publicized this as replacement era of nearer cooperation within the economic and strategic fields besides strong support on the international forums. it absolutely was the cool relations between the 2 countries throughout the previous government that Kingdom of Saudi Arabia abstained from the ballot of monetary Action Task Force command in Paris in April last year that initial LED to the grant of 3 months short leash so grey listing of Pakistan can be stopped
During this visit of the highness signed Memorandum of Understanding twenty billion dollars are signed that in keeping with Royal guest it’s the initial dose and a lot of investment can follow. The finance can cowl the comes in trade, energy, agriculture and mining sectors. there’s no denying the bitter truth that each agriculture and producing sectors area unit in an exceedingly state of deep crisis due lack of induction of latest technology and agriculture sector is additionally facing acute shortage of water attributable to not finance in conservation with construction huge and tiny dams.
In the energy sector shady deals were created with personal personnel’s and foreign corporations jacking up the tariffs of energy inputs to the sky. Likewise, the induction of progressive technology was neither inspired nor created obligatory for the lease holders of mines, leading to large waste of precious natural resources. Oil and Gas development Corporation restricted have known forty one blocks for the exportation and Saudi investment can boost the native production of oil and gas. The share of crude oil product in total imports forty six billion dollars that is twenty seven percent and also the fluctuation within the world market necessitates substantial increase in production of fossil oil from the evidenced domestic reserves and sweetening of purification capability.
Foreign direct investment has been on the decline over the past ten years. Within the initial 5 months of this year foreign direct investment (FDI) from all foreign sources born by thirty five percent to $ 880 million as compared with $ 1359 million within the same amount last year, showing a big drop of $478 million. China was the most the most supply of FDI whose investment visited CPEC connected comes of high tariff thermal power stations and non-productive comes like Lahore Orange Train and Multan railroad line theme. Total Chinese investment throughout the last year stood at a pair of 85 billion dollars. In calendar month last year foreign investment went right down to $161 million whereas it absolutely was $354 million within the same month in 2017. World investors have remained back of future investment since 2008. The most significant aspect that hindered long direct foreign investment were rampant corrupt practices of the leadership of ruling political parties, their preference to stay within the constant state of denial towards the very unhealthy security surroundings and delaying ways applied on foreign investors . It absolutely was the delaying ways to induce kickbacks for operationalize a Malaysian thermal station that the firm abandoned the project within the previous government. The ruling junta set everything on stake considerably thinking nation’s interest is trivial. It is evidently known that the Saudi investment can come to Pakistan with in the period of five years so only steep perceptibility will never do miracles more efforts are required on which government is on board with highest expectations ToR’s are been finalized for augmenting FDI with the countries Pakistan has cordial ties.
Now most prevalent initiative is transparency that shall be maintained if the MOUs area unit to be captive forward to the stages of letter of intent and monetary shut. Now Pakistan is getting through the tensions of deficit that are being edified by 27 percent but this circular debt would only be settled with a better hastily and curiously made framework as the investments to Pakistan can only come . Shabbiness that has been showed by Indian media these days is aghast to ethics they might have drowning into the ocean of boisterousness from where no one can take them out. Indian media after not achieving their goal to portray Pakistan’s image bad to world also didn’t gave a good view about Saudi crown’s meeting with Modi even though 5 new projects were taken into account and it was actually grail of milestones coming ahead in the technology sector but those who grouch like Dogs can’t digest these massive incentives. Pakistan can beat these challenges by focusing on its managerial resources that could only happen in means of competent authoritative decision makers in all institutions including FBR.
The Writer is a senior journalist who has been doing journalism since two decades He is a political commentator an analyst who knows the gimmicks behind International politics and He has excelled command on the issues regarding terrorism.
