Published: Thu, February 14, 2019

Pakistan eyes investment pacts with Saudi Arabia

Pakistan eyes investment pacts with Saudi Arabia

"With the visit of Prince Muhammad bin Salman, Pakistan and Saudi Arabia are going to witness an unprecedented level of closeness based on solid economic integration", he said at a press briefing regarding the upcoming two-day visit of Saudi crown prince to Islamabad from February 16 to17.

Prince Muhammad bin Salman holds important ministries in the Saudi government, including that of the Vice President of the Council of Ministers.

Reuters said Prince Mohammed is expected to announce investments in energy and infrastructure during his visit to India and Pakistan as part of his efforts to wean the Saudi economy off oil exports.

Responding to another question, Foreign Minister Qureshi said that Pakistan enjoyed brotherly relations with Iran.

The Saudi prince, often referred to as MBS, will be accompanied by a high-powered delegation, including members of the royal family, key ministers and leading businessmen. It worth $14 billion and is considered the biggest trade deal of Pakistan's history.

He said Commander of the Islamic Coalition General Raheel Sharif during his meeting with him the other day made it clear that the force was not specific to any country or a particular sect and the suspicion in this regard was not well-counted.

Qureshi said that the government wanted to rid the country of begging bowl.

He remarked that more investment is coming into Pakistan than it has in the last 10 years. So, the Saudi cabinet has authorized the above-discussed ministers to sign a MoU between KSA and Pakistan.

The BoI Chairman Haroon Sharif said Saudi Arabia had comprehensive long-term stakes in Pakistan.

Sources said seven BMWs 7 Series, one land cruiser, and eight containers carrying essential articles for the crown prince's personal use have been brought to Pakistan and shifted to the Prime Minister House where the visiting dignitary will stay during the visit. Saudia Arabia is interested in investing in oil and agriculture, minerals, mines, wind energy in Sindh and Balochistan, RLNGs power plants.

When CNN's Becky Anderson asked Barrack about the effect the murder of journalist Jamal Khashoggi has had on Saudi Arabia's global reputation, Barrack first cracked a joke before stressing that "whatever happened in Saudi Arabia, the atrocities in America are equal, or worse", per Gulf News.

He mentioned that Saudi Arabia was planning to develop two new cities and the situation would encourage Pakistani workforce to be accommodated in diverse jobs.

Like this: