Islamabad: Special Assistant to Prime Minister (SAPM) Muhammad Jawad Sohrab Malik met with Saudi Ambassador Nawaf bin Said Al-Malki to discuss improving bilateral relations.
Jawad thanked Saudi Arabia for its unwavering support of Pakistan at the meeting. He thanked the envoy for clarifying that the Kingdom would deposit $2 billion in the SBP account. The deposit would be within seven working days. Both parties pledged to develop Pakistan-Saudi relations.
The SAPM said Saudi Arabia’s $2 billion financing will help Pakistan overcome its financial problems.
Moreover, He explained that this would enable securing similar assurances from the IMF and other friendly countries like the United Arab Emirates, Qatar, and others, which would lead to the long-awaited staff-level agreement (SLA) and multilateral disbursements.
Moreover, Nawaf bin Said Al-Malki stressed Saudi Arabia’s commitment to long-term investment deals with Pakistan. He underlined Saudi Crown Prince Mohammed bin Salman’s promise to invest $10 billion in Pakistan’s energy and IT sectors in the coming years.
While, The Saudi envoy highlighted the Saudi government’s intention in recruiting more Pakistani workers for various sectors this year and next. He said Saudi Vision 2030’s megaprojects are expanding the labour market.
While, The SAPM noted Pakistan’s diversified business ecosystem and its strengths in commodities and services. Moreover, It benefits greatly from Gulf exports. He praised the Kingdom’s commitment to increasing Pakistani employment in future development projects and Saudi FDI’s positive impact on the country’s economy.
Both dignitaries discussed boosting bilateral commercial cooperation, recruiting more Pakistani workers, and increasing FDI in promising sectors during the meeting.
