Saudi crown prince to visit Pakistan in Feb, UAE prince in Jan

ISLAMABAD: Federal Information Minister Fawad Chaudhry on Thursday said that crown princes of UAE and Saudi Arabia will visit Pakistan next month and in February respectively.

“Saudi crown prince Mohamad Bin Salman and United Arab Emirates (UAE) crown prince Mohammed bin Zayed Al Nahyan will visit Pakistan for investment purposes, in the coming months,” the minister said while addressing a presser after federal cabinet meeting, here today.

He said that the Saudi crown prince will come with a huge foreign investment proposal.

The information minister said Pakistan will remain ‘neutral’ over Yemen issue, while UAE will announce a package for Pakistan in near future.

Pakistan’s central bank, on December 14, had received another installment of one billion dollars from Saudi Arabia’s bailout package for Pakistan.

A spokesman of State Bank of Pakistan (SBP) had said that the bank received another tranche of one billion US dollars from the package, the kingdom had announced after visit of Prime Minister Imran Khan.

The Saudi government had in October agreed to provide Pakistan $ three bln for foreign currency support for a year to address the country’s balance of payments crisis. The Kingdom had also agreed to provide Islamabad a one year deferred payment facility for import of oil, worth up to another three billion dollars.

Pakistan had received the first installment of one billion dollars from Saudi government on November 9, which provided relief to the balance of payments woes of the country.