Saudi Arabia, UAE to rescue Pakistan by providing $25bn

By MG News | Category Economy | September 04, 2023 at 08:35 PM GMT+05:00

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September 04, 2023 (MLN): Saudi Arabia and United Arab Emirates (UAE) have expressed interest in rescuing the sinking ship of Pakistan by investing $25 billion after helping the South Asian nation avert a default a few months ago, Bloomberg reported.

While talking to the journalists in Islamabad today, interim Prime Minister Anwaar-ul-Haq Kakar informed that the investment will come into mines and minerals, agriculture and technology sectors.

The investment in the mining sector is expected to materialize within the next six months, he added.

The government plans to revive the privatization of state-owned companies and complete a few transactions before its tenure ends, he further highlighted.

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