Saudi Arabia has announced an investment of $ 1 billion in Pakistan which lacks money currently in a state of economic and political upheaval.This Development Came during a phone call between Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah, and His Pakistani Counterpart Bilawal Bhutto Zardari, where he informed him of the Saudi King’s Directive, in addition to DISCUSSING SAUDI-PAKISTANI TIES, AS MEWAL and international problems.
“The guards of two holy mosques, King Salman bin Abdulaziz Al Saud, issued directions to invest USD 1 billion in Pakistan, in confirming the support of the kingdom of the economy of Pakistan and the people of Pakistan,” said the Saudi Press Agency (SPA) Pakistan and Pakistan, Saudi Press Agency ( Spa) Pakistan, said Saudi Spa (SPA) and Saudi Saudi (SPA) Saudi Spa and Pakistan Saudi on Thursday.
Pakistani Foreign Minister welcomed the royal investment worth $ 1 billion in Pakistan. Happy to talk to HH FM Faisal bin Farhan. Given the bilateral bond of brotherhood, welcomed the KSA commitment to an investment of USD 1 billion. In Pakistan. The direction of my colleague about damage caused by unprecedented floods, a very valuable solidarity and KSA all possible assistance, “Bilawal Bhutto said in a tweet. The announcement of this new investment occurred a few days after the Pakistani state bank told about $ 4 billion in financing for Pakistan from friendship countries.
“Pakistan will get USD 2 billion from Qatar, USD 1 billion from Saudi Arabia under the umbrella of suspended oil facilities and 1 billion USD investment from the UAE in various sectors,” Dawn quoted the Bank Negara Governor Pakistan Murtaza Syed said. In dealing with the need for gross financing of around $ 30 billion for FY23, Syed said the funding available to this was estimated at $ 37 billion for FY23. The number increased after Pakistan received $ 4 billion in financing from friendly countries, the report.
Because Pakistani’s economy was once again on the verge of destruction, the coalition government that had just returned to knocking the kingdom to ask for help. The $ 1 billion investment had come after a visit made by Prime Minister Shehbaz Sharif who was elected by Pakistan and the country’s Army Chief of Staff Qamar Javed Bajwa.
Writing for the Think Tank Atlantic Council based in Washington, Uzair Younus said the recurring economic crisis in Pakistan made him more embarrassing for its leaders to find Saudi money because both Saudi and Pakistan knew that the proposition of Islamabad’s values had declined. “But this does not need to be a case-Pakistan is the only country in the world that can solve the safety problem of the house of Saud that develops in the increasingly hostile regional environment,” he added.