High-level Saudi delegation to arrive in Pakistan tomorrow

ISLAMABAD: A high-level delegation of Saudi Arabia, led by Foreign Minister Prince Faisal bin Farhan bin Abdullah, will visit Pakistan from 15 to 16 April, 2024.

The delegation consists of Saudi Minister of Water and Agriculture Eng Abdul Rahman Abdul Mohsen Al-Fadley, Minister of Industry and Mineral Resources Bandar Ibrahim AlKhorayef, Deputy Minister of Investment Badr AlBadr, Head of Saudi Special Committee Mohammad Mazyed Al Towaijri, and senior officials from Ministry of Energy and Saudi Fund for General Investments.

The visit takes place essentially to expedite follow up on the understanding reached between Prime Minister Shehbaz Sharif and Mohammad bin Salman, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia during their recent meeting in Makkah Al Mukarramah to enhance bilateral economic cooperation between Pakistan and Saudi Arabia.

The Saudi delegation is expected to hold meetings with the President, the Prime Minister, the Foreign Minister and counterpart ministers, COAS, Apex Committee of SIFC.

This visit is aimed at lending positive impetus to enhanced bilateral cooperation and mutually rewarding economic partnership.

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In recent visit to the Kingdom, PM Shehbaz  and Crown Prince Mohammed Bin Salman agreed to expedite the first wave of a planned $5 billion investment package for Pakistan.

In January last year, the crown prince had directed the Saudi Development Fund (SDF) to study increasing the deposit amount in the State of Bank of Pakistan (SBP) to $5bn.

The move, according to the Saudi Press Agency, confirmed Saudi Arabia’s position on supporting the economy of Pakistan and its “sisterly people”.