A high-level, 135-member Saudi delegation, led by the Saudi investment minister, recently visited Pakistan to sign a series of agreements with the Pakistani government. A few major Pakistani business houses were selected to present their business plans to the delegation. As a result, the two countries signed several memoranda of understanding (MoUs) to boost bilateral trade and investment in sectors such as industry, agriculture, information technology (IT), food, education, mining and minerals, health, petroleum, and energy. Prime Minister Shehbaz Sharif praised Saudi Arabia’s investment of over $2 billion in Pakistan and expressed hope that economic relations and cooperation between the two nations would continue to grow under the leadership of His Excellency Crown Prince Muhammad Bin Salman.
However, this feels like déjà vu. This is not the first time MoUs have been signed by trade delegations or dignitaries visiting Pakistan. In recent years, Pakistan has witnessed numerous MoUs with various countries aimed at establishing and developing projects of national importance. For instance, a 50-member Saudi trade delegation previously visited Pakistan, focusing on energy, maritime, and other sectors. The local private sector shared recommendations and investment plans with Saudi investors, with seventy-six Pakistani companies shortlisted to present their business proposals. At the time, the Prime Minister assured full support to the Saudi investors. Following the Saudi visit, a delegation from the Qatari Investment Authority also visited Pakistan and signed MoUs. Similarly, the UAE pledged to invest $10 billion in energy, port operations, wastewater treatment, food security, logistics, and minerals. One of the most notable MoUs was signed with Saudi Arabia’s ARAMCO, calling for a $10 billion investment to develop an integrated refinery and petrochemical complex. Yet, the momentum around this project seems to have faded.
Pakistan and China have also regularly signed MoUs under the China-Pakistan Economic Corridor (CPEC) framework. Recently, the two countries inked 23 MoUs aimed at boosting cooperation in sectors such as transportation infrastructure, industry, energy, agriculture, media, healthcare, water management, and socioeconomic development. Prime Minister Shehbaz Sharif has repeatedly urged authorities to accelerate the implementation of these agreements, warning that delays would not be tolerated.
Pakistan has amassed a lengthy list of MoUs with GCC countries and China, and the Prime Minister is acutely aware of the numerous unimplemented agreements signed during both his current and previous tenures. While he has periodically sought reports from various departments, it would be more effective to develop digital tools that bring this information directly to his desk. Additionally, since these delegations and dignitaries incur costs to the national exchequer, which is public money, the public has a right to be informed about the progress of these MoUs. To this end, digital dashboards displaying real-time updates on MoU progress should be made available on the websites of all relevant ministries and departments. At a higher level, dashboards should also be accessible to the Prime Minister and Cabinet, outlining the status of MoUs against set timelines, with progress discussed in cabinet meetings to expedite matters.
Digital tools should be utilised to monitor the implementation of MoUs of national significance and to keep the public informed of government and ministry performance. Implementing these MoUs would lead to increased industrialisation, job creation, improved productivity, and higher exports, ultimately resulting in stronger GDP growth and greater economic stability.
Ahsan Munir
The writer is a freelance columnist.
