Pakistan, Saudi Arabia investors launch fund to boost trade, investment

A ​joint council ​of Saudi Arabian and ‌Pakistani investors ​launched a private equity fund on Monday as ‌part of the countries' wider push to deepen two-way private sector trade and investment. The ‌Saudi-Pakistan Joint Business Council, formed by ‌the governments of both countries, said the fund's initial size is "multi-hundred million", which is expected ⁠to ​expand ⁠based on opportunities across sectors.

Three-fourths of the fund ⁠will be invested in Pakistan, while the rest ​will be invested in Saudi Arabian ⁠projects, the council said in a statement. The launch ⁠of ​the fund comes at a time when Islamabad and Riyadh are deepening ⁠longstanding ties, especially in defence, amid few signs ⁠of ⁠a breakthrough in the months-long US-Iran conflict.