Saudi Arabia made a significant announcement outlining plans to invest an astounding $25 billion in Pakistan. This will be the largest investment Saudi Arabia has ever made in Pakistan.
Saudi Arabia to invest in Pakistan: The Saudi Arabian announcement on Tuesday gave Pakistan’s economy a significant boost. The announcement of plans to invest a staggering $25 billion in Pakistan represents Saudi Arabia’s largest-ever investment in that nation.
Anticipations suggest that the allocation of funds could trigger growth in multiple sectors in Pakistan, such as mining, agriculture, and the IT industry, producing a broad impact.
Anwar-ul-Haq Kakar, the interim prime minister, told reporters in Islamabad that Saudi Arabia plans to invest $25 billion in Pakistan over the next two to five years.
Saudi Arabia intends to invest in Pakistan’s mining, agriculture, and IT industries, which will boost foreign investment in the nation, according to the acting prime minister.
The prime minister announced that the caretaker government will complete the approval process for privatizing two state-owned energy companies within the next six months. Additionally, he highlighted that further discussions will take place regarding the privatization of another company outside the energy sector. Furthermore, he stressed that Pakistan’s mineral resources hold an estimated value of nearly $3 trillion.
However, The $25 billion investment will be Saudi Arabia’s largest in Pakistan to date, according to the news agency Reuters.