Saudi Arabia signs deals to invest $20 billion in cash-strapped Pakistan amid fresh Indo-Pak tensions
Pakistan and Saudi Arabia on Sunday signed a slew of investment agreements worth USD 20 billion which will provide a welcome relief to the teetering economy of the cash-strapped South Asian country.
"Today we signed MoUs. The amount of that kind of investment is USD 20 billion. It is big for phase one and definitely it (Saudi investment in Pakistan) will grow every month, every year in bigger numbers and it will be beneficial for both the countries," the crown prince said. "Pakistan is going to be very, very important country in the future and we want to be sure we are part of that," he added.
Seven agreements, including MoUs in power, petrochemical and mining sectors, were inked as Prince Salman launched his diplomatic trip to Asia in Islamabad. After Pakistan, the crown prince will travel to India, where he will meet Prime Minister Narendra Modi and Petroleum Minister Dharmendra Pradhan. He is expected to finish the trip with a visit to China on Thursday and Friday.
Prince Salman said Saudi "cannot say no to Pakistan, whatever you (Pakistan) want we will do." "For Pakistanis, this is a great day," the Pakistani premier said while addressing a dinner reception held in honour of the visiting Saudi guests at the PM House.
He said Saudi Arabia has always been there when Pakistan needed friends. "I want to thank you for the way you helped us when we were in (a) bad situation," Khan told the royal guest, adding that Pakistan and Saudi Arabia were now taking their relationship to a new level, where investment agreements would be mutually beneficial for the countries. "The future is exciting for both Pakistan and Saudi Arabia after joining hands," he said.
National Unity Day: A tribute to Sardar Patel | Master Stroke
What all changed after J&K officially bifurcated into 2 UTs? | Master Stroke
Israeli spyware Pegasus snooped on Indian Journalists through Whatsapp | Master Stroke
Maharashtra: Shiv Sena's Sanjay Raut Meets Sharad Pawar
Drill displays IED diffused with the help of a robot by NSG
Article 370 only gave separatism and terrorism to J&K: PM Modi in Kevadiya
Let us work towards making India $5 trillion economy: Modi To Trainee Civil Servant | Full Speech
Radio Stations in Jammu, Srinagar and Leh renamed
Jammu and Kashmir to witness 'Acche Din'? | Seedha Sawal
Expert advice on how to survive poor air quality in Delhi-NCR