Saudi Prince Mohammed Bin Salman To Visit Pakistan, May Announce $15 Billion Investment: Report

The dates of Saudi Crown Prince Mohammed bin Salman’s visit to Pakistan are being discussed and considered for finalisation.

World | Press Trust of India | Updated: January 08, 2019

 

Islamabad: Saudi Crown Prince Mohammed bin Salman is expected to arrive in Pakistan for a brief visit and is likely to announce investment projects worth about $15 billion in the cash-strapped country, a media report said today.
The dates of his visit are being discussed and considered for finalisation, Geo News reported, quoting diplomatic sources.

Pakistan, reeling under severe financial crisis, has reached out to some countries for economic assistance including Saudi Arabia, China and the UAE since Prime Minister Khan assumed office in August.

In October, Saudi Arabia agreed to provide a $6 billion package to Pakistan to support its economy.
The package included $3 billion balance of payments support and $3 billion in deferred payments on oil import.

Pakistan on Sunday said the UAE has “almost finalised” investment plan for the setting up of an oil refinery in the country as the Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan met Prime Minister Khan.

Information Minister Fawad Chaudhry said the UAE had already promised to provide $3 billion assistance and the Crown Prince also discussed investment to set up an oil refinery.

Pakistan is negotiating a $8 billion bailout package from the International Monetary Fund (IMF) to overcome a severe balance-of-payments crisis that threatens to cripple the country’s economy.

source:

https://www.ndtv.com/world-news/saudi-crown-prince-to-visit-pakistan-may-announce-15-billion-investment-report-1974492

A handout image provided by the Center for International Communication (CIC), Ministry of Media, Kingdom of Saudi Arabia, on September, 20, 2018 shows Crown Prince Mohammed bin Salman (R) meeting with Pakistani Prime Minister Imran Khan in Jeddah on September 19, 2018.
Saudi King Salman hosted Khan yesterday on his maiden foreign visit since coming to power, state media said, as Islamabad seeks to stave off a financial crisis. / AFP PHOTO / Center for International Communication (CIC) / Handout / 

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