PM Sharif confident of Saudi delegation’s visit to result in more investments in Pakistan

Islamabad, Apr 17 (PTI) Prime Minister Shehbaz Sharif on Wednesday expressed confidence that the visit of a high-level Saudi delegation to Pakistan would lead to investment worth billions of dollars in the country as it tries to overcome its financial woes.

Sharif was addressing the cabinet a day after a Saudi delegation led by its foreign minister paid a two-day visit to explore investment opportunities in cash-strapped Pakistan.

Shehbaz told the cabinet meeting that the Saudi delegation visited on the special interest of Saudi Crown Prince Mohammad Bin Salman. “As a result of the Saudi delegation’s visit, billions of dollars will be invested in Pakistan,” he asserted.

The Prime Minister said that the Saudi delegation was impressed by the preparation of Pakistani ministers and officials and Saudi Foreign Minister Faisal bin Farhan expressed this openly.

The Prime Minister emphasised the need to demonstrate the same spirit and dedication to ensure the arrival of Saudi investment in Pakistan and the completion of projects.

“We must ensure the completion of this investment in Pakistan with the same spirit and dedication,” the prime minister added. “No obstacles or hindrances in this regard will be allowed.”

The Saudi delegation had held talks with officials in Pakistan and showed confidence in the investment environment in Pakistan. The visiting foreign minister apart from detailed talks with Pakistan foreign minister Ishaq Dar also met President Asif Ali Zardari, Prime Minister Shehbaz Sharif and army chief General Asim Munir.

Sharif hosted a dinner reception for the visiting high-powered Saudi delegation on Tuesday night.

Separately, officials said that Prime Minister Shehbaz later this month is again expected to visit Saudi Arabia to finalise investment talks and possibly sign a formal agreement. If the agreements were not signed, then they could be signed during the visit of Crown Prince Mohammad bin Salman, which may possibly take place in May.

Earlier on April 8, Sharif met with the crown prince in Mecca to boost economic cooperation. It was said after the meeting that an investment of USD 5 billion was expected in the initial phase.