The Saudi Pak Industrial and Agricultural Investment Company (Pvt) Limited board of directors met here on Friday under the chairmanship of Dr Abdullah T. Al-Theuayan, who is also director-general of the Arab Company for Livestock Development, Saudi Arabia.
The board approved a total financing of Rs 860 million to 13 companies in financial, telecommunication, sugar, steel, energy and cement sectors.
The financing would be provided in the form of loans, term finance certificates and leasing.
It would help create approximately 450 job opportunities. The board also noted the progress in disbursements and recoveries.
Since inception, Saudi Pak has provided financing facilities of Rs 27,548 million, which includes direct equity investment of Rs 2,320 million, term financing of Rs 22,452 million as well as underwriting of public issues of shares and guarantees of Rs 2,776 million.
The paid-up capital of the company is Rs 2 billion held in equal proportion by Saudi Arabia and the Government of Pakistan.
The board expressed satisfaction over the role performed by the company in promoting growth of industrial sector in Pakistan.-PR
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