A high-level Saudi business and investment delegation, set to arrive in Pakistan tomorrow (Thursday), is expected to sign agreements worth $2 billion with the federal government.
The delegation led by Saudi Arabia’s Minister of Investment Khalid Al-Falih will arrive in Pakistan on a two-day visit — October 10-11 — ahead of the Shanghai Cooperation Organisation (SCO) summit in Islamabad later this month.
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Officials have informed media that the top minister will oversee the signing of several memorandums of understanding (MOUs) and also hold business-to-business meetings.
Saudi companies from various sectors including construction, engineering, financial services, IT, hospitality, agriculture, food, energy, and petroleum are part of the visiting delegation.
The Saudi investment minister will address a business forum at a local hotel in Islamabad as well as hold talks with senior leadership of Pakistan’s private sector.
A day earlier, Prime Minister Shehbaz Sharif said that “Pakistan is expected to sign agreements and MoUs worth $2 billion with Saudi Arabia” in various sectors during the upcoming visit.
The administration has also secured a commitment of foreign loans amounting to $3.2 billion from international creditors including Saudi Oil Facility (SOF) of $1.2 billion for the next 12 months.
