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Saudi crown prince to announce biggest investment, says minister

ISLAMABAD: Minister of State for Revenue Hammad Azhar said on Sunday that Saudi Crown Prince Muhammad bin Salman (MBS) will announce the biggest-ever investment in Pakistan during his two-day visit of Islamabad.

Speaking to the media, he said the revenue to be generated from Saudi investment in Pakistan would be used in larger interest of the country.

The minister questioned the previous PML-N government’s claims of having settled various matters with regard to investment with the kingdom, saying former prime minister Nawaz Sharif had been making a lot of claims lately, including holding a meeting with International Monetary Fund (IMF) chief.

He said Prime Minister Imran Khan’s meeting with IMF Chief Christine Lagarde indicated his keen interest in financial matters. The country’s economy was facing troubles because of the previous PML-N government’s faulty policies, he added.

Read Also: Pakistan welcomes Saudi investment in petro-chemicals, mining sectors: Umar

The PTI government had focused all its attention on improving the economy, he added.

The minister termed Indian Prime Minister Narendra Modi’s anti-Pakistan rant a political move and said Pakistan couldn’t be intimidated by Indian threats. The Modi government was in a habit of leveling unfounded allegations against Pakistan ahead of elections in the country, he added.

He said India would suffer losses for cutting trade ties with Pakistan.

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