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A high-level Saudi delegation, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah, will visit Pakistan from April 15-16 with an aim to expedite the investment process discussed by Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammad bin Salman last week.
According to a statement issued by the Foreign Office, the visit’s primary aim is to expedite the economic understanding reached between the prime minister and the crown prince during their meeting in Makkah last week. It would enhance bilateral economic cooperation between Pakistan and Saudi Arabia, the statement added, stressing on a mutually rewarding economic partnership.
Apart from the Saudi foreign minister, the delegation would also include Saudi Minister of Water and Agriculture Abdul Rahman Abdul Mohsen Al-Fadley; Minister of Industry and Mineral Resources Bandar Ibrahim AlKhorayef; Assistant Minister of Investment Ibrahim Yousef i AlMubarak; Head of Saudi Special Committee Mohammad Mazyed Al Towaijri; and senior officials of the Ministry of Energy and Saudi Public Investment Fund.
During its visit, the Saudi delegation is expected to meet President Asif Ali Zardari; the prime minister; Foreign Minister Ishaq Dar; Army chief Gen. Asim Munir; the apex committee of the Special Investment Facilitation Council; and all relevant ministers.
Last week, during a three-day visit to Saudi Arabia, the prime minister and the crown prince agreed to expedite the initial phase of a planned $5 billion Saudi investment package for Pakistan. The pledge is a continuation of MBS’ directive to the Saudi Development Fund last year, when he had instructed it to study increasing the deposit amount in the State of Bank of Pakistan to $5 billion to help shore up Pakistan’s foreign exchange reserves.
During the meeting, per an official statement, the prime minister invited the crown prince to visit Pakistan at his earliest convenience. The Saudi leader accepted the invitation and congratulated Sharif on assuming the office of the prime minister.