Pakistan’s Caretaker Foreign Minister, Jalil Abbas Jilani, expressed hope on Saturday regarding the anticipated visit of Saudi Crown Prince and Prime Minister, Mohammed Bin Salman, to Pakistan. However, he clarified that as of now, no confirmed dates for the visit have been finalized.
In an interview with Aaj TV, the foreign minister emphasized the significant importance of the Saudi Crown Prince’s visit, particularly in light of the strong interest shown by Gulf Cooperation Council (GCC) nations in investing in Pakistan since the establishment of the Special Investment Facilitation Council (SIFC).
Foreign Minister Jilani disclosed that approximately 12 agreements and memorandums of understanding (MoUs) have been concluded and are ready to be signed upon the occurrence of the high-level visit from Saudi Arabia. While the specific details of these agreements and MoUs were not provided, he mentioned that they encompass various sectors such as agriculture, information technology, mining, minerals, and energy, reflecting the broad spectrum of investment areas.
The minister underscored that the primary purpose behind establishing the SIFC was to expedite the process of attracting foreign investments into Pakistan.
During a recent meeting with business leaders, Army Chief General Asim Munir reported that the Saudi Crown Prince had expressed intentions to invest $25 billion in Pakistan through the SIFC. Additionally, it was noted that the Army Chief had requested the allocation of $10 billion to address Pakistan’s foreign exchange challenges.
It’s worth mentioning that at present, the Crown Prince is leading Saudi Arabia’s delegation at the two-day G20 Leaders Summit in New Delhi, India. While the dates for his visit to Pakistan remain uncertain, the outlook for strengthening economic ties between the two nations appears promising.