Saudi delegation arrives tomorrow with $2bn investment proposals on the table

ISLAMABAD: A high-level Saudi delegation, led by the Kingdom’s Investment Minister Khalid bin Abdulaziz Al-Falih, will arrive in Pakistan tomorrow, Thursday, for a three-day visit during which $2 billion in business-to-business investment proposals are expected to be finalized.

Saudi Arabia’s Minister of Investment Khalid Al-Falih will arrive in Pakistan on a two-day visit, October 10-11, ahead of the Shanghai Cooperation Organisation (SCO) summit, which is also taking place in Islamabad later this month.

The visit by the Saudi minister and his aims to enhance economic collaboration between the two countries.

A day earlier, Prime Minister Shehbaz Sharif said that “Pakistan is expected to sign agreements and MoUs worth $2 billion with Saudi Arabia” in various sectors during the upcoming visit.

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Pakistan has been seeking closer cooperation in trade, defense, energy and other sectors with regional allies as it aims to recover from a prolonged economic crisis that has drained its foreign exchange reserves and weakened its currency.

SPECIAL PROTOCOL FOR SAUDI DELEGATION

Meanwhile on the instructions of the Interior Ministry, a special protocol will be given to the Saudi delegation of investors, led by Engineer Ahmad Ali Abdullah, on arrival at the Islamabad airport.

The ministry officials have directed the Federal Investigation Agency’s (FIA) immigration officials deputed at the airport not to do paperwork on arrival as well as at the time of departure of the delegation, according to a news channel report.

The officials have further said that photos will also not be taken of members of the delegation at immigration.

The delegation will be provided the facility of the state lounge at the airport while it will also be exempted from customs clearance.

The Foreign Ministry of Pakistan had written to the Ministry of Interior at the request of the Saudi embassy in Pakistan for the purpose.