Saudi Delegation to Boost Pakistan's Economy with $2 Billion Agreements

Prime Minister Shehbaz Sharif announced impending USD 2 billion agreements with a Saudi delegation, aiming to uplift Pakistan's struggling economy. The delegation, visiting from October 9-11, will explore investment opportunities. Sharif highlighted economic recovery efforts, aided by support from allies and the IMF's financial assistance package.

Prime Minister Shehbaz Sharif revealed that agreements worth USD 2 billion are slated to be signed next week during the visit of a Saudi delegation to Pakistan. The visit, scheduled from October 9 to 11, will be led by Saudi Arabia's Minister for Investment, Khalid Bin Abdulaziz Al-Falih.

This delegation, composed of both governmental and private sector representatives, symbolizes a shot in the arm for Pakistan's flailing economy, which the Sharif government is striving to stabilize. The Prime Minister discussed economic recovery strategies with the federal cabinet, emphasizing assistance from China, UAE, and Saudi Arabia.

With inflation dropping significantly and the local stock market surging, Pakistan has also secured an important IMF package. The recent installment of over USD 1 billion is part of a larger USD 7 billion deal, contingent on Pakistan meeting specific fiscal reforms.

(With inputs from agencies.)