BAFL 45.66 Increased By ▲ 0.56 (1.24%)
BIPL 20.08 Decreased By ▼ -0.17 (-0.84%)
BOP 5.34 Decreased By ▼ -0.06 (-1.11%)
CNERGY 4.54 Increased By ▲ 0.01 (0.22%)
DFML 16.01 Increased By ▲ 0.33 (2.1%)
DGKC 78.62 Increased By ▲ 5.74 (7.88%)
FABL 27.80 Increased By ▲ 0.65 (2.39%)
FCCL 18.86 Increased By ▲ 1.21 (6.86%)
FFL 8.96 Decreased By ▼ -0.13 (-1.43%)
GGL 12.85 Increased By ▲ 0.21 (1.66%)
HBL 111.54 Increased By ▲ 0.88 (0.8%)
HUBC 122.23 Increased By ▲ 0.71 (0.58%)
HUMNL 7.69 Increased By ▲ 0.34 (4.63%)
KEL 3.29 Increased By ▲ 0.06 (1.86%)
LOTCHEM 27.80 Increased By ▲ 0.48 (1.76%)
MLCF 42.36 Increased By ▲ 3.03 (7.7%)
OGDC 110.37 Increased By ▲ 2.37 (2.19%)
PAEL 18.97 Increased By ▲ 1.41 (8.03%)
PIBTL 5.46 No Change ▼ 0.00 (0%)
PIOC 114.91 Increased By ▲ 6.91 (6.4%)
PPL 94.72 Increased By ▲ 2.97 (3.24%)
PRL 25.32 Increased By ▲ 0.44 (1.77%)
SILK 1.10 Increased By ▲ 0.02 (1.85%)
SNGP 64.32 Increased By ▲ 1.22 (1.93%)
SSGC 12.26 Increased By ▲ 0.37 (3.11%)
TELE 8.36 Increased By ▲ 0.17 (2.08%)
TPLP 13.35 Increased By ▲ 0.24 (1.83%)
TRG 83.84 Increased By ▲ 2.23 (2.73%)
UNITY 25.89 Increased By ▲ 0.14 (0.54%)
WTL 1.54 Increased By ▲ 0.02 (1.32%)
BR100 6,308 Increased By 126.6 (2.05%)
BR30 21,973 Increased By 434.1 (2.02%)
KSE100 61,691 Increased By 1160 (1.92%)
KSE30 20,555 Increased By 366.1 (1.81%)

KARACHI: Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain has said the agreement between Saudi Arabia and Iran to reduce tensions and restore diplomatic relations is a great diplomatic achievement of China.

After this surprising decision, China’s reputation at the global level and its influence in the Middle East has increased, while Pakistan has breathed a sigh of relief, he said.

Mian Zahid Hussain said that Saudi Arabia and Iran have remained locked in an indirect conflict in Yemen, Syria, Bahrain, and Lebanon and on almost every forum for a long time.

But now, there is hope for an end to the civil war and armed confrontation which will improve the overall environment in the Middle East, he added.

He said that both countries will save billions of dollars in terms of war expenses if the agreement remains successful.

That Saudi Crown Prince Mohammed bin Salman is emerging as a statesman and under his guidance, Saudi Arabia has also improved its relations with Qatar.

Saudi Arabia has recently deposited five billion dollars in the central bank of Turkey and due to all these measures, Prince Muhammad bin Salman and Saudi Arabia have emerged taller on the world stage.

Mian Zahid Hussain added that Saudi Arabia and Iran are becoming friends as a result of China’s successful diplomacy which has shaken the western world. Pakistan should see this development as a success as it has very close relations with China, Saudi Arabia, Iran, Syria, and Turkey.

Pakistan is keen to increase trade ties with Iran and KSA to better meet its energy needs, support the issue of Kashmir, and expansion of CPEC.

In this regard, our policymakers have to take care to increase relations with Iran in a way that doesn’t offend America at any cost because America is the largest buyer of our exports, it is giving us aid and loans, a large number of remittances are coming in from the US and it has a lot of influence in international institutions like the IMF.

Mian Zahid Hussain said that the agreement may result in some distance between India and Iran as China’s influence is growing in Tehran and after this deal, Israel’s problems will increase.

He noted that after India’s response to the recent anti-government protests in Iran, the Iranian Foreign Minister has cancelled his visit to India, and if the tension between the two countries continues it will hit Indian ambitions.

The Indian dream of reaching Afghanistan and Central Asian markets through Chabahar port will remain unfulfilled which will be a big setback for New Delhi.

Copyright Business Recorder, 2023


Comments are closed.