- Saudi Arabia investing $25 billion in Pakistan.
- Boosting Pakistan’s economy in various sectors.
- Largest-ever Saudi investment in Pakistan.
Saudi Arabia has made a significant announcement, disclosing plans to invect a massive $25 billion into Pakistan’s economy. This represents the most substantial investment ever made by Saudi Arabia in Pakistan. The impact of this substantial allocation is expected to ripple across various sectors in Pakistan, encompassing mining, agriculture, and the IT industry.
During a press conference in Islamabad, the caretaker Prime Minister, Anwar-ul-Haq Kakar, detailed Saudi Arabia’s commitment to investing $25 billion in Pakistan within the next two to five years. The Prime Minister underscored Saudi Arabia’s focus on Pakistan’s mining, agricultural, and IT sectors, which will contribute to an increase in foreign investment within the country.
Furthermore, it’s noteworthy that Pakistan’s mineral resources hold an estimated value of nearly $3 trillion. The caretaker government aims to expedite the approval process for privatizing two state-owned energy companies in the next six months. Additionally, discussions will be initiated regarding the privatization of another company beyond the energy sector. As per Reuters, this $25 billion investment represents Saudi Arabia’s most substantial financial commitment to Pakistan to date.