King Salman bin Abdulaziz has directed the Saudi government to invest $1 billion in Pakistan as evidence of the area’s “support of the Pakistani frugality and the Pakistani people”, a report from the Saudi Press Agency(Gym) said on Thursday.
It stated that the development came during a phone call between Saudi Foreign Minister Prince Faisal Bin Farhan Al Saud and Foreign Minister Bilawal Bhutto Zardari wherein the ultimate was informed about the directive.
FM Bilawal twittered before moment about the commerce and ate the investment commitment. He also said he’d briefed his Saudi counterpart on the flood tide situation in Pakistan.
The Gym report said that the two leaders also bandied” strong Saudi- Pakistani relations and ways to boost them, as well as the indigenous and transnational issues of common interest”.
before this week, State Bank of Pakistan Acting Governor Murtaza Syed had blazoned $4bn in backing for Pakistan from friendly countries.
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“Pakistan will get $2bn from Qatar, $1bn from Saudi Arabia under the marquee of remitted oil painting installation, and $1bn investments from the UAE in colorful sectors,” he’d said.
Pakistan’s gross backing requirements would be around $30bn for FY23 including the quantum needed for CAD and debt disbursements.
He’d added that the available backing against this is estimated at $37bn for FY23. The quantum increased after Pakistan secured $4bn of backing from friendly countries.
