Monday, May 27, 2024

High-level Saudi delegation to visit Pakistan


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Islamabad, April 15: As Pakistan moves ahead towards privatisation of its assets including the Islamabad International Airport and the National Flag carrier airline the Pakistan International Airlines (PIA) along with other major projects; a high-level delegation from Saudi Arabia will land in Islamabad on Monday to materialise the agreements done between Prime Minister Shehbaz Sharif and Crown Prince Mohammad Bin Salman.

Pakistan’s Foreign Office confirmed the visit stating that the high-level Saudi delegation would be led by Foreign Minister Prince Faisal bin Farhan bin Abdullah, who will be accompanied by a team of important and esteemed figures from the business community.

Saudi delegation comprises important government dignitaries including Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef, Minister of Water and Agriculture Engineer Abdul Rahman Abdul Mohsen Al-Fadley, Deputy Minister of Investment Badr AlBadr, Head of Saudi Special Committee Mohammad Mazyed Al Towaijri and other senior officials from Saudi Fund for General Investments and the Ministery of Energy.

The delegation will be in Islamabad on 15 and 16 April with an objective to take the agreements done between Pakistan Prime Minister Shehbaz Sharif and Crown Prince Mohammad Bin Salman during the recent meeting in Makkah.

Sources said that the Saudi delegation is scheduled to have important meetings with key figures from various ministries of Pakistan. Meetings are also scheduled with President Asif Ali Zardari, Prime Minister Shehbaz Sharif, Foreign Minister Ishaq Dar, Chief of Army Staff (COAS) General Syed Asim Munir and the APEC Committee of the Special Investment Facilitation Council (SIFC).

The Saudi visit is part of the important commitment made by PM Shehbad and Muhammad Bin Salman, in which, both sides assured a commitment to expediting the first phase of Saudi investment of $5 billion in Pakistan.

The visit also holds great importance for Islamabad as it looks towards the privatisation of its assets and invites investments from Saudi Arabia. Other than PIA and Islamabad International Airport, Islamabad is also looking towards a major investment by Saudi Arabia in the Gwadar project and also the Reko Diq.

The investment opportunities will be put forward to the Saudi delegation in other sectors also and will be done as part of the Special Investment Facilitation Council (SIFC), a special platform spearheaded by Army Chief General Syed Asim Munir and being formally authenticated by the political government.

The Saudi delegation would also explore business opportunities in the agriculture, energy, privatisation and other sectors and is expected to inject a much-needed investment pivotal to Islamabad’s crippling economy and growth.



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