Shehbaz Sharif urges acceleration of 1st phase of Saudi investments in Pakistan

April 16, 2024 (MLN): Prime Minister Shehbaz Sharif emphasized on Tuesday that both Saudi Arabia and Pakistan need to work closely to expedite the first phase of Saudi investments in Pakistan under the new arrangement.

According to a press statement released today, Shehbaz Sharif received Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, who is leading a high powered delegation on an official visit to Pakistan.

The Prime Minister underscored the significance accorded by Pakistan to its longstanding fraternal, economic and strategic relations with Saudi Arabia.

He said both countries had always stood together at all times.

While recalling his warm and productive meeting with His Royal Highness Crown Prince Mohammed bin Salman in Makkah earlier this month, the Prime Minister stated that the visit of the Saudi delegation led by the Foreign Minister, immediately after his visit, was a manifestation of the strong commitment of both countries to the strengthening of bilateral relations.

Shehbaz Sharif informed the delegation about the Special Investment Facilitation Council (SIFC) and its initiatives to promote investment in Pakistan.

He also highlighted the key role of Chief of the Army Staff General Syed Asim Munir and the cooperation of all institutions for the promotion of investment in the country through SIFC.

The Saudi Foreign Minister expressed gratitude for the warm welcome accorded to his delegation and highlighted that Saudi Arabia attached high importance to its strong and close ties with Pakistan.

The Foreign Minister also conveyed the Kingdom’s commitment to an enhanced strategic and economic partnership with Pakistan.

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