Saudi Arabia to invest $25 bln in Pakistan

ISLAMABAD: Saudi Arabia made a noteworthy announcement revealing the plans to invest a staggering $25 billion in Pakistan which marks the largest-ever investment from Saudi Arabia into the country, ARY News reported.

Pakistan’s economy received a substantial boost as Saudi Arabia made a noteworthy announcement on Tuesday. The revelation of plans to invest a monumental $25 billion in Pakistan marks the largest-ever investment from Saudi Arabia into the country.

The allocation of the amount is expected to have far-reaching implications, potentially catalyzing growth across various sectors in Pakistan, including mining, agriculture, and IT industry.

The caretaker Prime Minister Anwar-ul-Haq Kakar, addressing journalists in Islamabad, stated that Saudi Arabia intends to invest $25 billion in Pakistan over the next two to five years.

The caretaker PM mentioned that Saudi Arabia plans to invest in Pakistan’s mining, agricultural, and IT sectors, which will increase foreign investment in the country.

The Prime Minister emphasized that Pakistan’s mineral resources are valued at nearly $3 trillion, adding that the caretaker government will complete the approval the privatization process for two state-owned energy companies in the next six months, meanwhile further discussions will be held on the privatization of another company outside the energy sector.

According to the news agency Reuters, the $25 billion investment will become Saudi Arabia’s largest investment in Pakistan to date.