Saudi Arabia’s indication of increasing Pakistan’s deposits to 5 billion dollars and investment to 10 billion dollars, the announcements of more than 9 billion dollars at the Geneva Conference as a whole is a historic success.
During the international conference in Geneva, the international community and institutions announced more than 9 billion dollars in aid for recovery from last year’s catastrophic floods, which is one billion more than Pakistan’s request.
Prime Minister Shehbaz Sharif congratulated and praised the Pakistan team for organizing the Geneva World Conference and said that “the announcement of 9 billion dollars by the world is a historic success”.
Speaking to the members and officers of the Pakistani delegation in Geneva, the Prime Minister said that “Historical success is the result of your honest and dedicated efforts to achieve your goals. This day is historic for the government of Pakistan and 22 crore people.” It is important”.
Prime Minister Shehbaz Sharif said that he congratulates all the members who came with the delegation or the officers who served here.
“All of you have taken all the steps with utmost dedication, hard work, and purpose.
We understand very well how the paperwork regarding this conference was completed, how the problems would have arisen in its arrangements and they would have been solved with a big smile.”
The Prime Minister said that sometimes it felt like we would not have a break but thank God that the fruits of hard work day and night came out in the last conference and the world saw that 9 billion dollars were announced, this is a history.
He said that “this is the result of your honest efforts to achieve your goals and it is a testimony of your hard work, your sincerity towards Pakistan”.
Yesterday was a historic day not only for the government of Pakistan but also for the 22 crore people, how team Pakistan fulfilled its cause for the betterment of its people and to solve their problems.
The Prime Minister said that we also encouraged the provinces and asked them to go with us in this conference and put their case before the world there, thus the world saw a unity and national unity there, credit for this success. It is all over you.
Foreign Minister Bilawal Bhutto Zardari and his team fulfilled their responsibilities, played an important role in drawing the attention of the world to the flood victims, Finance Minister Ishaq Dar, Economic Affairs Minister Sardar Ayaz Sadiq, Planning and Development Minister Ahsan Iqbal, Climate Change Minister Sherry Rehman and Information and Broadcasting Minister Maryam Aurangzeb made great efforts.
He said that the Minister of Information highlighted the efforts of all of you on the screens of the world, the Minister of State for Foreign Affairs worked hard, the Foreign Secretary, ambassadors and other diplomats all worked day and night.
The prime minister said that “the real challenge is to implement these announcements and promises”, we have to increase our capacity to implement these projects, “use our technical expertise and “The necessary technical support will be provided to finalize these declarations and commitments. This step is very important.”
The declarations from some countries were very surprising to us, we are very grateful to them, “with the help of Allah these matters have progressed”, the members and officers of the delegation have used all their skills and abilities to overcome this difficulty.
It should be remembered that yesterday (January 9) during the international conference in Geneva, aid of more than 9 billion dollars was announced by the international community and institutions for recovery from last year’s catastrophic floods, which is the request of Pakistan is more than one billion. During the conference, Prime Minister Shehbaz Sharif demanded from Pakistan’s international partners to provide 8 billion dollars for reconstruction during the next three years after the disaster in the country. According to the promises, the total amount is more than 9 billion dollars. Including both bilateral and multilateral partners, more delegations announced assistance in various aspects’.
In the concluding session of the conference, the Minister of State for Foreign Affairs Hina Rabbani Khar said that the total amount of the announcements is “more than 9 billion dollars”.
It should be noted that during the international conference in Geneva, the international community and organizations announced more than 9 billion dollars in aid to Pakistan to recover from the devastating floods last year, which is one billion more than Pakistan’s request.
The aid from the community was announced during the ‘International Conference on Climate Resilient Pakistan’ held in Geneva, which was jointly hosted by Prime Minister Shehbaz Sharif and UN Secretary-General
Antonio Guterres.
The purpose of the conference was to seek aid for the rehabilitation and reconstruction of infrastructure for millions of people affected by the worst climate change-induced floods in Pakistan, which was attended by several heads of state and representatives from around the world.
During the conference, Prime Minister Shehbaz Sharif asked Pakistan’s international partners to provide 8 billion dollars for reconstruction during the next three years after the disaster in the country. He called for massive aid for the recovery efforts in the affected country.
The participants of the conference promised millions of dollars at the request of Prime Minister Shehbaz Sharif and even announcements were made before the formal start of the meeting.
The document issued at the end of the meeting stated that the delegations reiterated their cooperation with the people of Pakistan for immediate relief efforts and rehabilitation and reconstruction. Admitting financial aid announced.
Pledges total more than $9 billion, including both bilateral and multilateral partners, with more delegations announcing assistance from various perspectives.
In the concluding session, Minister of State for External Affairs Hina Rabbani Khar said that the total amount of the announcements was “more than 9 billion dollars”. She said that “today was indeed a day of great hope.”
The message from the world is clear, the world will stand with those who are victims of any natural calamity and will never leave them alone.
Earlier, Federal Information Minister Maryam Aurangzeb had said that the first phase of the Geneva Conference on the rehabilitation and reconstruction of flood victims has been completed.
The international community has announced 8 billion 57 million dollars for Pakistan. Maryam Aurangzeb said in a statement on the social media website that in the first phase of the Geneva Conference on the rehabilitation and reconstruction of flood victims, the European Union has allocated 90 million dollars. 3 million dollars, Germany 88 million dollars, China 100 million dollars, Islamic Development Bank 4 billion 20 million dollars and the World Bank has announced to give 2 billion dollars.
She further said that Japan has promised 77 million dollars, Asian Development Bank has promised 1 billion 50 million dollars, USAID has promised 100 million dollars and France has promised 345 million dollars. Meanwhile, in another tweet, he said that the brotherly country of Saudi Arabia has promised to give one billion dollars to help Pakistan in the difficult task of rehabilitation and reconstruction.
Meanwhile, Saudi Arabia has indicated to increase Pakistan’s deposits to 5 billion dollars and investment to 10 billion dollars. The review has been directed.
According to the Saudi media, Prince Muhammad bin Salman has directed to review the increase of Saudi Arabia’s investment in Pakistan to 10 billion dollars, which was announced on August 25, 2022.
The report states that “Crown Prince Mohammed bin Salman has also directed the Saudi Development Fund to review the amount deposited in the State Bank of Pakistan to $5 billion. The development came in the context of recent contacts between Prince Mohammed bin Salman and Prime Minister Shehbaz Sharif, and the announcement was made during an official visit to Saudi Arabia and the UAE. It has come a day after Chief of Army Staff General Asim Munir met with Prince Mohammed bin Salman in Medina.
It should be remembered that Army Chief General Asim Munir met Saudi Crown Prince Mohammed bin Salman last day in which it was agreed to strengthen bilateral relations and promote military and defense cooperation. Saudi Crown Prince Mohammed bin Salman welcomed Army Chief General Asim Munir at his winter camp in Al-Ula city and congratulated him on assuming the command of the Pakistan Army.
In this meeting, it has been agreed to promote military and defense cooperation including strengthening bilateral relations. During the meeting, the two personalities discussed ways to improve bilateral relations between the two countries.
It should be remembered that earlier in 2021, Saudi Arabia deposited 3 billion dollars in the State Bank of Pakistan to support Pakistan’s foreign reserves. This amount of 3 billion dollars was supposed to be returned on December 5, 2022, but on December 2. Saudi Arabia extended the period of this deposit. In the last week of October 2021, Saudi Arabia agreed to restore its financial assistance to Pakistan.
The agreement, which included a safe deposit of about $3 billion and delivery of oil worth $1.2 billion on late payments, was signed during the former prime minister’s visit to Saudi Arabia that same month. The Saudi ruler had issued instructions to invest one billion dollars in Pakistan in August last year, this directive from King Salman bin Abdulaziz came a day after the Qatari government announced an investment of 3 billion dollars in Pakistan.
According to reports, this announcement has come out in the context of recent contacts between the Saudi Crown Prince and Prime Minister Shahbaz Sharif.
In this regard, the statement issued by the Saudi Embassy has said that planning has been started to increase the investment volume in Pakistan to 10 billion dollars, while an increase in the amount of deposit for foreign exchange reserves is also being considered.
It should be noted that the announcements of more than 9 billion dollars of aid by the international community and organizations in the Geneva Conference and the increase in investment in Pakistan by Saudi Arabia have seen an improvement in the share prices during business in the Pakistan Stock Exchange. Economic analysts have attributed this increase to the Geneva Conference and aid announcements by the international community and institutions.
The stock market is expected to improve the economic condition after the pledges made at the fundraising conference in Geneva and possible positive results of the ninth review of the International Monetary Fund (IMF)’s 7 billion dollar loan program. Speculations have created a bullish trend in the stock market.
On the other hand, Speaker National Assembly Raja Pervez Ashraf has welcomed the full cooperation of the international community for the rehabilitation of the flood victims in the Geneva Conference and said that Prime Minister Mian Shehbaz Sharif, Foreign Minister Bilawal Bhutto Zardari and the government are grateful for the successful holding of the Geneva Conference. The economic and diplomatic team deserves congratulations. It is impossible to deny the fact that the holding of the Donors Conference is an extraordinary success for Pakistan and the flood victims. This aid for the rehabilitation of flood victims will bring a positive change in the lives of flood victims.
The conference will prove to be an important development in highlighting the challenges of climate change at the global level, it is also important to mention that the Geneva conference will be beneficial not only in Pakistan but also in other countries affected by climate change and in improving the environment of the planet. Already, due to climate change, floods in Pakistan have caused large-scale loss of life and property.
The support from the international community for the rehabilitation of the flood victims is welcome, the Pakistanis are grateful for supporting Pakistan in the Geneva Conference and the domestic and foreign participants who highlighted the problems of the flood victims and the effects of climate change in an effective manner.
On the other hand, Interior Minister Rana Sanaullah says that aid for the flood victims from all over the world and trust in Pakistan is a ‘slap on the face’ of those campaigning for the default of the country for the last 3 months. Pakistan expected 8 billion dollars to help the flood victims, but Pakistan has received 11 billion dollars from around the world, this money is not a loan but a grant for Pakistan.
