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Sunday Feb 17 2019

First phase of $20bn investment completed: Saudi crown prince


ISLAMABAD: Saudi Crown Prince Mohammad Bin Salman said on Sunday that the first phase of investment has been completed in Pakistan, which is worth $20 billion.

Crown Prince of Saudi Arabia, Mohammad bin Salman reached Islamabad earlier today on a two-day official visit to Pakistan on the invitation of Prime Minister Imran Khan.

While addressing a ceremony at the PM House to sign Memorandum of Understanding (MoUs) between the two countries, the prince said that the investment will prove fruitful for both Pakistan and the Kingdom.

“Pakistani leadership is impressive and the country’s future seems quite bright,” said the crown prince.

“After becoming a crown prince, this is my first visit to Asia, and Pakistan is the first country I am visiting,” said Mohammad Bin Salman.

Prince Salman said that Pakistan is a very important country for Saudi Arabia and he was very pleased to visit the country.

He said that the kingdom will invest further in the country.

The PM also requested the Saudi prince to ease immigration process for Haj pilgrims from Pakistan and 3,000 Pakistanis in Saudi prisons should be released. The Saudi crown prince assured the prime minister of every form of cooperation in this regard.

Meanwhile, Finance Minister Asad Umar also met with Saudi Minister for Energy Khalid Al-Faleh and discussed investment ventures. 

The Saudi crown prince was given a historic welcome upon his arrival. After reaching the country, the prime minister himself drove the Saudi crown prince in a car to the PM House, where he was presented a guard of honour.

At the PM House, MoUs were signed between the two countries in diverse sectors. The ceremony was witnessed by the crown prince and PM Imran.

PM Imran, while addressing the MoU-signing ceremony, said that Saudi Arabia and Pakistan always enjoyed brotherly relations. “Saudi Arabia always stood beside Pakistan in difficult times.”

The prime minister said that the two countries need to extend cooperation in tourism, petrochemicals, and other fields.

“We are taking Pak-Saudi ties to its zenith,” said the PM, adding that in future the relations would reach new heights.