Pakistan Railways offers 50 percent discount on fare to persons with disabilities 

ISLAMABAD: Finance Minister Muhammad Aurangzeb will represent Pakistan at the two-day Emerging Market Economies Conference today, Sunday, in Saudi Arabia’s AlUla city, state broadcaster reported. 

The conference is being held from Feb. 16-17 in AlUla in collaboration with the International Monetary Fund (IMF) and the Kingdom’s Ministry of Finance.

The nine-session conference would be attended by 200 participants and 36 speakers from 48 countries. The event will bring together emerging market finance ministers, central bank governors, policymakers, public and private sector leaders, international institutions and academics.

“He [Aurangzeb] is scheduled to participate in a high-level panel discussion, moderated by IMF Managing Director Kristalina Georgieva, on the topic of ‘The Path to Emerging Markets,’” state broadcaster Radio Pakistan reported. 

Aurangzeb is attending the conference at the invitation of his Saudi counterpart Mohammed Al-Jadaan. The two ministers met ahead of the conference on Saturday, stressing the importance of unlocking the full potential of their economic relationship. 

Their discussions highlighted opportunities for enhancing bilateral trade, investments and financial collaboration, Radio Pakistan reported on Saturday, with both ministers expressing their dedication to unlocking the full potential of their countries’ strategic partnership. 

Pakistan is navigating a fragile economic recovery under a $7 billion IMF loan program secured in September 2024, after implementing austerity measures and policy reforms to avert a sovereign default in 2023.

To facilitate Pakistan’s economic recovery, Saudi Arabia signed 34 memorandums of understanding (MoUs) worth $2.8 billion last October to boost private sector investment in key areas, including energy, infrastructure and technology.

The global conference takes place at a time when the world economy is facing persistent shocks, trade tensions between major world powers, geopolitical instability and tight financial conditions. 

KARACHI: The Pakistan Navy and Royal Saudi Naval Forces (RSNF) on Saturday concluded a bilateral maritime exercise with a live weapons firing display in the North Arabian Sea, demonstrating combat readiness, according to a statement from Pakistan’s Naval Headquarters in Islamabad.
The Naseem Al Bahr-XV followed the larger multinational Aman exercise, which brought together navies from several countries to promote regional maritime cooperation.
However, unlike Aman, which focuses on soft power, multinational coordination and humanitarian operations, Naseem Al Bahr is a biennial exercise designed to enhance operational preparedness and joint warfare capabilities between Pakistan and Saudi Arabia.
This year’s edition involved four naval vessels — Pakistan’s PNS Zulfiquar and Saudi Arabia’s HMS Jazan, HMS Al Yarmook and HMS Hail.
“Exercise NASEEM AL BAHR-XV featured advanced maritime operations, and the participating assets of both navies executed a diverse range of complex scenarios, including joint maneuvers, Anti-Surface Warfare, Anti-Submarine Warfare and integrated Maritime Security Operations,” the official statement said.
“The exercise provided an opportunity to strengthen bilateral cooperation, enhance interoperability and demonstrate a shared commitment to ensuring maritime security,” it added.
The exercise concluded with a live weapons firing demonstration, with the participating ships successfully launching a variety of surface-to-surface and surface-to-air missiles.
The statement said all the ships engaged their designated targets with precision, reflecting their combat preparedness and war-fighting capability.
Senior officials, including the commander Royal Saudi Naval Forces and Pakistan’s chief of naval staff, attended the event.