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Pak convinces Saudi to set up $12 bn refinery, petrochemical complex

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The Shehbaz Sharif government has succeeded in persuading Saudi Arabia to revive a major project shelved during the PTI government and establish a state of the art deep conversion refinery along with a petrochemical complex in Pakistan.

A high-powered delegation of the kingdom, headed by Crown Prince Mohammad Bin Salman, is coming to Pakistan in the last week of November during which a formal announcement is expected in this regard, The News reported.

The Pakistani side, according to the report, made huge efforts to persuade the kingdom to honour the MoUs and invest in the South Asian nation.

Islamabad also put its weight behind Riyadh, which has locked horns with Washington over the cut in oil supply in the international market, The News reported.

In February 2019, during the visit of Mohammad Bin Salman to Pakistan, Saudi Arabia signed MoUs for an investment of $21 billion in various sectors of the economy, including for the project of a deep conversion refinery and petrochemical complex with an investment of $12 billion.

The Saudi oil giant Aramco also conducted a study in this regard which found that setting up a refinery in Gwadar was not feasible.

However, it can be established at Hub, Balochistan, or near Karachi, the official said, The News reported.

Later, when the ties of Imran Khan’s government got strained with Saudi Arabia, the top decision-makers of the kingdom virtually put MoUs of $21 billion on the backburner signed in February 2019, the official said.

Now in the latest scenario, the official said, the Ministry of Petroleum is working on an upgrade of the draft for the refining policy to allure investment for setting up new refineries.

The government is making up its mind to offer the investors profitability at 14-15 per cent against the offer of 9 per cent, earlier offered in the draft for refining policy prepared by the PTI government, apart from increasing the tax holiday’s scope.

The government also wants investment from China for a refinery and to this effect, Prime Minister Shehbaz Sharif, during his upcoming visit to China, will offer Beijing to set up a refinery in Pakistan.

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Arab leaders meet in Saudi Arabia to discuss Palestinian issue, Gaza developments

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Riyadh, Feb 22: Leaders of Egypt, Jordan, Saudi Arabia, the United Arab Emirates (UAE), Qatar, Kuwait, and Bahrain met in Saudi Arabia’s capital Riyadh to discuss the Palestinian issue and the developments in the Gaza Strip, the official Saudi Press Agency (SPA) reported.

While the report described the gathering as a “consultative brotherly meeting” without providing details, media reports suggested that the discussions held on Friday were meant to focus on Gaza’s post-war reconstruction to counter a recent proposal by US President Donald Trump to relocate Palestinians from the enclave and turn it into the “Riviera of the Middle East,” a plan widely rejected by Arab nations.

Umer Karim, an expert on Saudi foreign policy, called the summit the “most consequential” in decades for the wider Arab world and the Palestinian issue.

Trump triggered global outrage when he proposed the United States “take over the Gaza Strip” and relocate its 2.4 million people to neighbouring Egypt and Jordan.

According to SPA, the meeting is at the invitation of Saudi Crown Prince Mohammed bin Salman Al Saud, and attended by Jordanian King Abdullah II, Qatari Emir Sheikh Tamim bin Hamad Al Thani, Egyptian President Abdel-Fattah al-Sisi, UAE President Sheikh Mohamed bin Zayed Al Nahyan, Bahraini Crown Prince Salman bin Hamad Al Khalifa, and Kuwaiti Emir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah.

During the meeting, the leaders also expressed their support for the upcoming emergency Arab League summit, scheduled to take place in Cairo on March 4, to address the latest Palestinian developments.

The Gaza Strip is largely in ruins after more than a year of war between Israel and Hamas, with the United Nations recently estimating that rebuilding would cost more than $53 billion.

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China hails India’s powerful, rising influence in Asia

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New Delhi, Feb 20: In yet another sign of thawing ties between the two countries, a Chinese diplomat on Thursday hailed India’s ascent in the Asia Power Index that was released last year.

“India has become the 3rd most powerful and influential country in Asia, after the US and China,” Yu Jing, spokesperson of the Chinese Embassy in India, posted on X citing the 2024 Asia Power Index by Australia’s Sydney-based Lowy Institute.

The report released in September 2024 had placed India as the third-most powerful nation in Asia, behind only the United States and China, highlighting India’s remarkable improvement in various categories, particularly in Diplomatic Influence, which surged due to Prime Minister Narendra Modi’s increased international engagements.

As India overtook Japan to grab the third spot in the Asia Power Index, several leaders attributed the country’s ascent to PM Modi’s visionary leadership and global strategy.

“India’s rise is no accident. This is the direct result of Prime Minister Modi’s aggressive diplomatic strategy and his bold ambitions to reshape India’s place in the world. Without his leadership, India would still be languishing behind, but today, we see a nation on the verge of superpower status,” stressed Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri.

According to the Lowy Institute, the Asia Power Index consisted of eight measures of power, 30 thematic sub-measures and 131 indicators. The Index ranked 27 countries and territories in terms of their capacity to shape their external environment — its scope reaching as far west as Pakistan, as far north as Russia, and as far into the Pacific as Australia, New Zealand, and the United States.

The government listed three major factors behind India’s rise in the index, including economic growth, future prospects and diplomatic influence.

“Prime Minister Narendra Modi’s leadership has gained greater international recognition. India’s non-aligned strategic position has made it possible for New Delhi to effectively navigate complex international waters. India ranked sixth in terms of diplomatic interactions in 2023, reflecting its active participation in multilateral forums,” the Ministry of Information and Broadcasting said, last year.

The strained relations between India and China are showing some improvement following the meeting between PM Modi and Chinese President Xi Jinping held in Kazan in October 2024.

Last month, Foreign Secretary Vikram Misri visited Beijing for a meeting of the Foreign Secretary-Vice Foreign Minister mechanism between India and China on January 27.

The two sides not only decided to resume the Kailash Mansarovar Yatra in the summer of 2025 but also agreed, in principle, to resume direct air services between the two countries.

Analysts reckon that the Chinese diplomat’s post on Thursday could be part of both countries deciding to utilise 2025 – the 75th anniversary of the establishment of India-China diplomatic relations – to redouble public diplomacy efforts, create better awareness about each other and restore mutual trust and confidence among the public, as it was agreed during Foreign Secretary Misri’s visit to Beijing, last month.

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Iran’s supreme leader says US ‘foolish’ plans for Gaza to lead nowhere

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Tehran, Feb 19: Iran’s Supreme Leader Ali Khamenei said that US “foolish” plans for Gaza and Palestine “will lead nowhere.”

“Those who claimed that they would destroy resistance in a short period of time are now receiving their prisoners from the resistance fighters in small groups and releasing a large number of Palestinian captives in return,” Khamenei said when meeting with visiting Secretary-General of the Palestinian Islamic Jihad movement Ziad al-Nakhalah, Xinhua news agency reported quoting a statement by Khamenei’s website.

As “global public opinion is now in favour of Palestine,” no plan will succeed without the consent of the resistance and people of Gaza, he said.

For his part, al-Nakhalah thanked Iran’s constant support for the resistance in Gaza, which he said managed to achieve “great victories” over the United States and the West despite the unequal balance of power.

US President Donald Trump proposed recently to transfer Gaza’s Palestinian population to neighboring countries, stating that Gazans who left will not be allowed to return.

The proposal, strongly supported by Israeli Prime Minister Benjamin Netanyahu, has met continuous regional and international outcry.

Earlier on February 10, Israeli Prime Minister Benjamin Netanyahu said that Israel is discussing US President Donald Trump’s “revolutionary, creative vision” on the Gaza Strip, the one that Trump is “very determined to implement.”

Trump’s plan “opens up many possibilities for us,” Netanyahu told a cabinet meeting after his return from Washington to Israel, according to a statement released by Netanyahu’s office.

“For an entire year, we have been told that the ‘day after’ (in Gaza) must involve the PLO (the Palestine Liberation Organization), the Palestinian Authority … President Trump has presented a completely different vision, one that is much better for the State of Israel,” Netanyahu said.

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