Saudi Arabia plans to invest $1bn in Pakistan

MG News | August 26, 2022 at 12:26 AM GMT+05:00

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August 25, 2022 (MLN): Saudi Arabia plans to invest $1 billion in Pakistan, Saudi state TV reported on Thursday.

Saudi King Salman bin Abdulaziz has given the directive for the kingdom to support the Pakistani economy and people, state TV added.

The order came during a telephone call received on Thursday between Saudi Foreign Minister Prince Faisal bin Farhan and his Pakistani counterpart Bilawal Bhutto Zardari.

Yesterday, the Qatar Investment Authority announced its aspiration to invest $3bn in various commercial and investment sectors in the Islamic Republic of Pakistan.

The announcement was made during a visit to Doha by Pakistan Prime Minister Shehbaz Sharif, who held official talks with Qatari Emir Sheikh Tamim bin Hamad al-Thani on Wednesday after a meeting with the QIA on Tuesday.

Finance Minister Miftah Ismail while talking to reporters earlier today informed that Qatar is interested in investing in Hawelli Bahadur and Baloki power plants. It has shown interest in investing in Pakistani airports, solar energy projects, and a freight terminal at Port Qasim.

Qatar is also interested in purchasing shares through the stock market and giving approvals for 200,000 Pakistanis to work in the country, he added.

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