The ruler of Saudi Arabia, Salman bin Abdulaziz, has instructed his government to invest one billion dollars in Pakistan to ensure the Saudi...
The ruler of Saudi Arabia, Salman bin Abdulaziz, has instructed his government to invest one billion dollars in Pakistan to ensure the Saudi cooperation from the people and economy of Pakistan.
According to the Saudi Press Agency (SPA) report, King Salman has directed his government to invest in Pakistan.
Also Read: Qatar Investment Authority plans to invest $3 billion in Pakistan
Foreign Minister Bilawal Bhutto Zardari, in a statement on the social networking site Twitter, confirmed the above-mentioned development after a phone conversation with his Saudi counterpart, Faisal bin Farhan Al Saud.
Bilawal Bhutto Zardari said that he spoke to Saudi Foreign Minister Faisal bin Farhan and discussed brotherly relations and welcomed Saudi Arabia's commitment to invest one billion dollars in Pakistan.
He said that he informed his counterpart about the worst flood damage.
The SPA report said that the two leaders discussed regional and international issues of mutual interest, along with further promoting the deep relationship between Pakistan and Saudi Arabia.
It should be remembered that earlier the Acting Governor of State Bank, Murtaza Syed, had announced that Pakistan will receive financial support of 4 billion dollars from friendly countries.
He had said that Pakistan will get 2 billion dollars from Qatar, 1 billion dollars from Saudi Arabia as arrears of oil and similarly 1 billion dollars from the United Arab Emirates for investment in various sectors.
Pakistan needs about $30 billion for fiscal year 2023 for debt repayment and other expenses.
Read more: Pakistan is not Sri Lanka, nor are the conditions like it, Acting Governor State Bank
Acting Governor State Bank had said that the funds available for the fiscal year 2023 are estimated at 37 billion dollars and this will increase after obtaining 4 billion dollars from friendly countries.
Yesterday, the Qatar Investment Authority (QUI) said that it has planned to invest 3 billion dollars in Pakistan, where Prime Minister Shahbaz Sharif was on a two-day visit.
Amiri Diwan of Qatar said that QUI has a plan to invest 3 billion dollars in Pakistan.
The statement said that the Qatar Investment Authority has announced that it wants to invest 3 billion dollars in various commercial and investment sectors in Pakistan.
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