ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif said on Tuesday that Pakistan will sign agreements worth over $2 billion with an incoming Saudi delegation later this week. He said that his government will not allow the opposition to derail the country’s economic progress.
Saudi Arabia’s Investment Minister, Khalid bin Abdulaziz Al-Falih, is set to visit Pakistan from October 9-11 with a high-level delegation, confirmed by Pakistan’s foreign office. This visit aims to enhance economic cooperation ahead of the Shanghai Cooperation Organization (SCO) summit in Islamabad on October 15-16.
During a cabinet meeting, PM Shehbaz Sharif criticized former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party for recent protests, claiming they aimed to undermine the country’s economic gains. He stated, “To sabotage these efforts is the biggest enmity against Pakistan,” and vowed not to tolerate any disruptions.
Pakistan and Saudi Arabia have been strengthening bilateral trade and investment, with Crown Prince Mohammed bin Salman previously reaffirming a $5 billion investment package for Pakistan. The country is seeking closer cooperation in trade, defence, and energy sectors as it navigates a prolonged economic crisis that has depleted foreign reserves and weakened its currency.
Last year, Pakistan established the Special Investment Facilitation Council (SIFC), a civil-military body designed to expedite investment decisions and attract foreign investment, particularly from Gulf nations.
In light of recent violence, Sharif also spoke about the Karachi blast on Sunday that killed three, including two Chinese nationals, for which the Balochistan Liberation Army (BLA) claimed responsibility.
Shehbaz Sharif assured that measures are being taken to strengthen security for Chinese nationals ahead of the SCO summit, stating, “Our spirits are higher than before, and we will spare no effort in ensuring security for Chinese citizens.”
China remains a key ally and investor in Pakistan, having pledged over $65 billion for various infrastructure and development projects under the China-Pakistan Economic Corridor (CPEC), part of Beijing’s Belt and Road Initiative.
