ISLAMABAD, Sept 15: Al-Banadar International Group (BIG) of Saudi Arabia is eager to explore and focus on the possibilities of developing business and trade relations with Pakistan in various fields including finance,telecom, information technology, agriculture, manufacturing, service infrastructure, tourism and social sectors on fast track and on a much larger basis.
This was stated by Prince Turkey Bin Banadara Al Saud who is leading an eleven member Saudi delegation during a meeting here on Monday with Privatization and Investment Minister Dr. Abdul Hafeez Shaikh.
The leader of the delegation indicated that to achieve the set targets BIG was in the process of setting up an operational office in Pakistan to explore the areas of interests and to identify the partners from the private sector of Pakistan for Joint ventures.
Prince Turkey remarked that the private sector as well as the government of Saudi Arabia were keen to promote business and trade relations between the two brotherly countries and intended to make sizeable investment to the mutual benefits of businessmen and the people of both the countries as well as for the betterment of common man in Pakistan.
Al-Banadar International Group is one of the oldest and the largest business establishments in Saudi Arabia, founded by the Princess Al-Banadara Bin Abdul Aziz in 1980, which now active and operative in all economic sectors.
The Chairman Board of Investment Mr.Waseem Haqqi, the Secretary BOI Dr. Agha Ghazanfar and other officials of BOI and PC were present during the meeting.
Pakistan and Saudi Arabia will also explore possibilities of cooperation in the areas of Science and Technology and Higher Education.
Focus will be made on health and agriculture biotechnology particularly vaccine production, setting up of institutions of higher learning in Pakistan with the assistance of Saudi Arabia and development of Tech Town in Pakistan.
The agreement to this effect was made in a meeting at Ministry of Science and Technology between senior officers of Ministry, HEC and Comstech headed by Minister for Science and Technology Prof. Atta-ur-Rahman and the visiting delegation from Saudi Arabia headed by Price Turkey Bin Banadara Al-Saud, the Chairman of. the Chairman of Al-Banadara International Group (BIG).
Under one proposal Saudi Arabian University of Pakistan having multi campuses in Karachi, Lahore and Islamabad is to be set up with the assistance of Saudi Arabia.
According to the proposed plans the institutions will be set up in already existing buildings. Each campus will cost sixty million dollars per year, it was stated.
He said his group welcomed the proposals made by the ministry and would give them serious consideration. The two sides agreed to proceed further on the proposals made by Pakistan.