Pakistan and Saudi Arabia Forge USD 2 Billion Investment Pact

Pakistan and Saudi Arabia have inked a USD 2 billion investment deal across various sectors such as industry and agriculture. This was part of a high-level Saudi delegation's visit to Pakistan aimed at strengthening economic and business ties, and includes multiple memorandums of understanding.

Pakistan and Saudi Arabia signed a USD 2 billion investment deal, focusing on sectors like industry, mining, agriculture, and energy, according to media reports.

The agreements, signed during a high-level Saudi delegation's visit to Pakistan, are expected to bolster business relations. The 130-member delegation was led by Saudi Minister for Investment Khalid Bin Abdulaziz Al-Falih, with top Pakistani officials, including Prime Minister Shehbaz Sharif and Chief of Army Staff General Asim Munir, in attendance.

Prime Minister Sharif praised the visit as a sign of Saudi Arabia's goodwill towards the Pakistani people, underlining the government's commitment to swiftly implement the memorandums of understanding. Deputy Prime Minister Ishaq Dar stressed Saudi Arabia's crucial support for Pakistan amidst its economic challenges, acknowledging funds provided by Saudi Arabia which facilitated a USD 7 billion IMF deal.

(With inputs from agencies.)