Azerbaijan ready for $2bn agreements with Pakistan

Islamabad: Prime Minister Shehbaz Sharif Tuesday said Azerbaijan has expressed readiness to sign agreements worth $2 billion with Pakistan.

Chairing the federal cabinet meeting in Islamabad today, he stated the President of Azerbaijan has sent a message in this regard.

Alluding to the departure of a Pakistani delegation to Saudi Arabia, the Prime Minister said Saudi Crown Prince Mohammad Bin Salman during a recent meeting with him expressed best wishes for the progress and development of Pakistan and he wants to move forward quickly to strengthen relations in diverse fields.

Shehbaz Sharif pointed out that there is a great demand of IT workforce in Saudi Arabia and Qatar. He added that he will soon get a presentation from the Ministry of Information Technology as to what strategy it is pursuing to prepare the skilled workforce in IT to take advantage of this demand in both countries.

The Prime Minister described the recent reduction in policy rate by the State Bank of Pakistan (SBP) as an important development for businesses, industry, agriculture, and exports. He expressed the confidence that the people will now invest their money which will create job opportunities and enhance exports. He said this will also reduce the burden of debt and provide a fiscal space.

The Prime Minister further said the business community will be encouraged to strengthen the economy.