The Kingdom of Saudi Arabia has pledged to accelerate the first wave of a $5 billion investment package in Pakistan, stated in the joint statement of the Prime Minister of Pakistan and the Crown Prince of Saudi Arabia Mohammed bin Salman (MBS) released by the office of the Spokesperson of the Ministry of Foreign Affairs on Monday.
PM Shehbaz and Crown Prince MBS held an official meeting on April 7 at Al-Safa Palace in Makkah Al-Mukarramah.
At the outset, MBS congratulated the premier on assuming the office and expressed warm wishes for his tenure.
Meanwhile, Prime Minister Shehbaz expressed his gratitude and re-affirmed Pakistan’s commitment to bolstering bilateral ties and economic cooperation.
Both parties agreed to expedite the first phase of the investment package worth billions.
Analyst Mosharraf Zaidi pointed out that Saudi investments have not materialized in the past few years and even the pledges have gotten smaller.
