PM seeks Saudi investment in Pakistan

Assures businessmen delegation investment will be fully secure

ISLAMABAD:

Prime Minister Shehbaz Sharif on Monday invited Saudi businessmen to make investment in various economic sectors of Pakistan as the government would facilitate investors in every possible way and remove hurdles as well as red tape.

Speaking to a delegation of Saudi businessmen and investors at a reception, he assured that the investment made by the Saudi businessmen would be fully secure and they could earn and repatriate profits.

The PM said it was a great pleasure to welcome Saudi businessmen to Pakistan – their second home. “This is like reunion of a family. We are here this evening to share our views.”

He thanked Saudi Crown Prince Mohammed bin Salman for his warm welcome to the Pakistani delegation led by him on its arrival in Saudi Arabia.

“We have fond memories of our visit to Saudi Arabia and have gratitude for the Saudi crown prince for the warm welcome accorded to my delegation.”

The Saudi crown prince reassured that Saudi Arabia would always support Pakistan in every walk of life including trade, investment and on the diplomatic front, he recalled.

The PM said since its inception, Pakistan had always received unconditional diplomatic and material support of all kinds from Saudi Arabia.

He said Saudi King Salman bin Abdul Aziz and the crown prince gave billions of dollars in financial support to Pakistan, including the deposits placed in the State Bank of Pakistan and deferred oil payment facility.

He urged the Saudi investors to sit down with Pakistani government ministers and local businessmen to chart out a programme and build a roadmap to enhance investment and trade with Pakistan.

He identified agriculture, agro-industry, minerals, oil and water resources as some of the potential areas for Saudi investment. Pakistan had comparatively cheap labour, and Pakistan and Saudi Arabia through joint ventures could compete with other countries and export their products, he pointed out.

Published in The Express Tribune, June 21^st, 2022.

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