Pakistan Secures Crucial $2 Billion Saudi Investment Deal

A high-level Saudi delegation, led by Minister Khalid Bin Abdulaziz Al-Falih, is visiting Pakistan to finalize a USD 2 billion investment deal. This visit aims to bolster economic ties and comes prior to the Shanghai Cooperation Organization Summit. Saudi support has been pivotal in Pakistan's economic recovery.

As a Saudi delegation lands in Pakistan, the country is set to finalize a significant USD 2 billion investment deal amidst pressing economic challenges. The high-level delegation, led by Saudi Minister for Investment Khalid Bin Abdulaziz Al-Falih, includes 130 representatives from both government and private sectors.

Throughout its three-day visit, the delegation plans to engage with top Pakistani officials, including Prime Minister Shehbaz Sharif, to cement business ties and discuss various investment proposals. Deputy Prime Minister Ishaq Dar expressed confidence that the deal would surpass USD 2 billion in B2B proposals, acknowledging Saudi Arabia's vital role in Pakistan's economic stabilization.

This strategic engagement precedes the Shanghai Cooperation Organization Summit, marking a step forward in Saudi-Pakistan relations during challenging times. Recently, Saudi Arabia, along with UAE and China, helped Pakistan secure a $7 billion loan from the International Monetary Fund, with $1 billion already disbursed.

(With inputs from agencies.)