Saudi Interested in Heavy Investment in Pakistan, Crown Prince Tells Khan Sahib

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This is third such contact between leaders of the two countries in as many days

AUG 14, 2018: Saudi Crown Prince Mohammed bin Salman has told prime minister-in-waiting Imran Khan that the kingdom was very much interested in investing heavily in a bid to strengthen its trade ties with Pakistan.

The crown prince also congratulated the Pakistan Tehreek-e-Insaf (PTI) chief on his election victory over telephone, said a statement issued by the PTI on Tuesday.

Prince Mohammed highlighted ‘extensive’ economic and trade opportunities in Pakistan.

The Pakistani prime minister-designate on the other hand lauded ‘effective anti-corruption campaign’ initiated under the supervision of Crown Prince Mohammed in Saudi Arabia.

“Just and productive governance only possible with end to corruption,” Khan Sahib was quoted as saying during the telephonic conversation. “We will benefit from Saudi crown prince’s experience,” Khan added.

The PTI chief said that bilateral ties between the two countries would be further strengthened, adding that the leaders of both countries would also visit each other’s country soon in this regard.

This is third such contact between leaders of the two countries in as many days. On Monday, Saudi King Salman bin Abdul Aziz telephoned Imran Khan and conveyed that the kingdom would always be at the forefront to help Pakistan.

The Saudi king and crown prince had reached out to Imran and shared their hope to see a prosperous Pakistan a day earlier.

Ambassador of Saudi Arabia to Pakistan Nawaf bin Said Al-Malki was the first diplomat to have met Khan Sahib even when the poll results were still pouring in.

Days after the Islamic Development Bank (IDB) activated its three-year $4.5-billion oil financing facility for Pakistan, which will give stability to rupee-dollar exchange rate that has largely remained under pressure, Saudi Arabia has announced $1 billion financial assistance for the Islamic republic as the latter is facing a severe strain on the external financing front.

The previous government of Pakistan Muslim League-Nawaz (PML-N) had sought $5 billion in aid from Riyadh, but it did not succeed. Now, it is expected that the new government of Pakistan Tehreek-e-Insaf (PTI) may get assistance of around $2 billion from the kingdom in addition to oil purchase credit facility on deferred payment.

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