Saudi Arabia pledges $7bn investment in various sectors in Pakistan

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ISLAMABAD: Positive News for Prime Minister Shehbaz Shrarif’s government as Saudi Arabia has pledged to invest a staggering $7 billion in various sectors of Pakistan.

According to sources in the Ministry of Finance, this decision marks a new chapter in economic relations between the two nations. The announcement comes ahead of a high-level visit by a Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan, scheduled for April 16 and 17. The delegation comprises ministers from key sectors including investment, water and agriculture, environment, industry, mineral resources, and energy, among others.

Additionally, the secretary general of the Saudi-Pak Supreme Coordination Council and Saudi investors will accompany the delegation.

Preparations are underway to welcome the Saudi delegation, with expectations high for the signing of several agreements and a memorandum of understanding during their visit.

These agreements are expected to cover a wide range of sectors, indicating the depth and breadth of Saudi Arabia’s commitment to Pakistan’s economic development.

Government sources have expressed optimism about the visit, highlighting its potential to enhance Pakistan’s economic landscape. The investment of $7 billion is anticipated to have far-reaching implications, not only for Pakistan’s economy but also for attracting further foreign investment.

Furthermore, the visit is seen as a catalyst for strengthening bilateral ties between Saudi Arabia and Pakistan. In addition to meeting with government officials, including President Asif Zardari, Prime Minister Shehbaz Sharif, and Army Chief General Asim Munir, the Saudi delegation’s engagements are expected to deepen cooperation and collaboration between the two nations.

Overall, Saudi Arabia’s significant investment underscores its confidence in Pakistan’s economic potential and sets the stage for increased prosperity and growth in the region.

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