Islamabad: Saudi Arabian investors and traders are expected to invest $10 billion in Pakistan.
According to details, the main delegation of Saudi Arabia will visit Pakistan today (Sunday). Representatives of about 30 companies will participate in the delegation.
Saudi investment is expected to open new business opportunities.
“This time, instead of aid, the journey of development will begin,” Federal Petroleum Minister Musadik Malik expressed his opinion.
“The prime minister wants to see the support of the private sector in the future,” he said.
Last month in April, Planning Minister Ahsan Iqbal said that Saudi Arabia is likely to invest $5 billion in Pakistan.
Speaking at a business summit in Islamabad, Iqbal said: “Prime Minister Shehbaz Sharif will visit Saudi Arabia soon. The Saudi crown prince is likely to visit after his first visit to Saudi Arabia.”
“The country’s annual income is 7000 billion dollars. This time we need 8000 billion dollars to pay the debt,” said Iqbal.
“Pakistan needs to expand exports and investments,” Iqbal said, stressing the need to expand investments.
Emphasizing the need for political stability, he said, “It is very important to get political continuity.”
“Let us unite to become a $3 trillion economy,” Iqbal said, calling for joint efforts to develop the country’s economy.
Talking about the China-Pakistan Economic Corridor (CPEC), Iqbal said, “Discussions are ongoing with China to speed up the second phase of the China-Pakistan Economic Corridor.”
“Discussions are also ongoing with the United Arab Emirates (UAE), Kuwait and Qatar,” Iqbal said.
