Makkah pact to bring regional peace: PM

ISLAMABAD:

Prime Minister Shehbaz Sharif on Wednesday said that Makkah Joint Defence Agreement, signed between Pakistan, Saudi Arabia and Turkiye, was a historic milestone for peace, unity, and stability in the region.

The prime minister said this in a meeting with Lieutenant General (retd) Nauman Mahmood, the first Secretary General to the General Secretariat of the alliance, pursuant to Makkah Joint Defence Agreement, who called on him here.

He expressed his best wishes for Lt. General (retd) Nauman Mahmood on assuming his position.

The prime minister emphasized that under the Agreement, Pakistan stood shoulder-to-shoulder with Saudi Arabia for its sovereignty, defense, and regional security, and fully supported Saudi Arabia's legitimate right to self-defense.

He reaffirmed Pakistan's unwavering commitment to protecting the sovereignty, territorial integrity, and security of the Kingdom.

The Secretary General of the Makkah Defence Alliance briefed the prime minister on the strategy to promote defense and strategic cooperation under the framework of the Agreement.

Gemstones Pilot Project

Prime Minister Shehbaz Sharif expressed displeasure over slow progress of the Gemstones Pilot Project and delays in implementing measures for the sector's development, directing that a time-bound action plan be prepared on a priority basis.

"Measures for the development of the gemstones and jewellery sector are a priority, and no delays will be tolerated," the prime minister said while chairing a meeting to review progress in the gemstone sector.

He stressed the need to develop a complete ecosystem for value addition, covering gemstone mining, cutting and polishing.

The country suffers annual losses worth billions of dollars due to substandard gemstone mining practices and smuggling, the prime minister said.

"Pakistan has been blessed by Almighty Allah with abundant natural resources," he said, directing that measures to increase exports by harnessing the country's extensive reserves of gemstones and minerals be prioritised.

SMEs

Prime Minister Shehbaz Sharif on Wednesday said that timely provision of loans to the housing, Small and Medium Enterprises (SMEs), and agriculture sectors was essential for promoting the national economy.

Chairing a meeting regarding access to finance for Agriculture, Housing and SME sectors, the prime minister reviewed the provision of loans and access to financial resources for the Prime Minister's Apna Ghar housing scheme, small and medium enterprises (SMEs) and the agriculture sector.