Saudi Arabia studying to augment Investments in Pakistan to reach $10bn

MG News | January 10, 2023 at 08:33 AM GMT+05:00

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January 10, 2023 (MLN): Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia has directed to study augmenting the Kingdom’s investments in Pakistan which have previously been announced on August 25, 2022, to reach $10 billion, as per Saudi Press Agency (SPA).

The Crown Prince also directed the Saudi Development Fund (SDF) to study increasing the amount of the deposit provided by the Kingdom of Saudi Arabia in favor of the State Bank of Pakistan (SBP) which have previously been extended on December 2, 2022, to hit a $5bn ceiling, confirming the Kingdom's position supportive to the economy of Pakistan, the statement issued by SPA further revealed.

This came within the framework of the existing communication between the Crown Prince and Muhammad Shehbaz Sharif, Prime Minister of Pakistan.

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