ISLAMABAD:A high-level delegation, led by Saudi Foreign Minister Faisal bin Farhan Al Saud, called on Prime Minister Shehbaz Sharif and deliberated upon various investment ventures including Pakistan International Airlines (PIA), said a statement by the Prime Minister’s Office (PMO).
The Saudi delegation comprised Saudi Deputy Minister of Investments Engineer Ibrahim bin Yusuf Al Mubarak, Saudi Minister of Environment, Water Resources, and Agriculture Abdul Rahman bin Abdulhamsin Al-Fazli, and Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim bin Abdullah Al Kharif, along with other senior Saudi officials and diplomats.
“Pakistan and Saudi Arabia have a long-standing brotherly relationship which is unprecedented,” said the premier as he welcomed the delegation at the PM House.
Federal Ministers Ishaq Dar, Khawaja Asif, Mohsin Naqvi, Jam Kamal Khan, Rana Tanveer Hussain, Abdul Aleem Khan, Dr. Musadik Malik, Owais Khan Laghari, Deputy Chairman Planning Jahanzeb Khan, National Assembly Member Romina Khurshid Alam and other government officials were present during the meeting.
The premier conveyed that KSA has consistently provided support to Pakistan during difficult times and also expressed appreciation for the delegation’s arrival shortly after Eidul Fitr.”Pakistan wants to further promote cooperation in the fields of trade and investment between the two countries,” stated the prime minister according to the statement released by the PMO.
During the meeting, the government briefed the Saudi delegation about extensive investment opportunities available in the country and suggestions were exchanged – concerning investments in transmission lines, solar projects, and mining projects.
The delegation was also presented with proposals including the privatization of airports, joint ventures in two five-star hotels in Islamabad, and investment opportunities in PIA.The offer of land by the Capital Development Authority (CDA) for the construction of hotels in partnership with Saudi Arabia was extended, added the statement.
“Pakistan is taking steps to promote foreign investment and form mutually beneficial partnerships with brotherly countries.””The visit is the beginning of a new era of strategic and commercial partnership between Pakistan and Saudi Arabia,” the PMO quoted PM Shehbaz.
Proposals included projects such as the Matiari Transmission Line and the establishment of a health city, with the CDA expressing readiness to collaborate or provide land for investment.Expressing gratitude, the premier affirmed, “Pakistan is grateful to the Saudi leadership for increasing investment on behalf of Saudi Arabia.”
