A Saudi investment delegation, led by Minister of Investment Khalid bin Abdulaziz, arrived in Pakistan on Wednesday for a three-day visit.
The delegation was received at Noor Khan Airbase in Islamabad by Minister for Privatisation Abdul Aleem, Commerce Minister Jam Kamal Khan, and Petroleum Minister Musadik Malik.
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Comprising members from various industries such as manpower, tourism, energy, mining, and minerals, the delegation plans to engage in business-to-business meetings with Pakistani companies, during which multiple agreements are expected to be signed.
Earlier, Prime Minister Shehbaz Sharif announced that Pakistan anticipates signing Memorandums of Understanding (MoUs) and agreements worth $2 billion with Saudi Arabia during the delegation’s visit.
During a federal cabinet meeting, PM Shehbaz expressed gratitude to China, Saudi Arabia, and the UAE for their assistance in securing the International Monetary Fund (IMF) loan program.
He also referenced a recent visit by Malaysian Prime Minister Anwar Ibrahim, highlighting an agreement for Pakistan to export Halal meat and rice to Malaysia.
The Prime Minister noted that teamwork led to the approval of the IMF program, which has helped lower inflation from 32% to 6.9%. Additionally, he reported growth in exports, remittances, and IT exports, along with a thriving stock exchange.
He cautioned that undermining these achievements for political gain would constitute a significant conspiracy against the country.
PM Shehbaz thanked the IMF chief for her support in securing the loan program and acknowledged the reforms implemented by both the current and caretaker governments.
