CAIRO: Saudi Arabia plans to invest $ 1 billion in Pakistan, Saudi state TV reported on Thursday.

Saudi King Salman bin Abdulaziz had given the directive for the kingdom to support the Pakistani economy, state TV added.—Reuters

INP adds: Following the Qatari leadership’s announcement to invest $3 billion, Saudi Arabia has also assured Pakistani leadership of investment of $1 billion. Foreign Minister Bilawal Bhutto and his Saudi counterpart Faisal bin Farhan had a telephone conversation in which they discussed the promotion of bilateral brotherly relations.

Pakistan, Saudi Arabia agree to strengthen ongoing cooperation in energy, investment

During the telephonic communication, Saudi FM assured that his country would to invest $1 billion in Pakistan. Bilawal Bhutto expressed his gratitude to the Saudi counterpart. The Foreign Minister informed the Saudi counterpart about the devastation caused by the unusual floods in Pakistan.

He expressed his gratitude to Saudi Arabia for showing solidarity regarding the worst flood situation and also appreciated the assurance of Saudi Arabia to take all possible measures to help the flood victims of Pakistan. It should be remembered that on Wednesday, Qatar had announced an investment of $3 billion in Pakistan.

Copyright Business Recorder, 2022