Deposit of $2 biln pledged by the Kingdom would take place within next seven working days in SBP account, confirms Saudi Ambassador
ISLAMABAD, April 15 (SABAH): Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki has reiterated the Kingdom’s commitment to building long-term, sustainable investment transactions between Saudi Arabia and Pakistan.
He gave the assurance during a meeting with Special Assistant to Prime Minister Muhammad Jawad Sohrab Malik in Islamabad.
The ambassador reiterated Saudi Crown Prince Mohammed bin Salman’s pledge to increase Saudi Arabian investments in Pakistan’s energy and IT sectors to 10 billion dollars within the next few years.
During the meeting, Jawad expressed his gratitude for Saudi Arabia’s unwavering support to Pakistan and thanked the ambassador for confirming that the deposit of the 2 billion dollars pledged by the Kingdom would take place within the next seven working days in the SBP account.
Both parties showed a commitment to strengthening the bilateral ties between Pakistan and Saudi Arabia.
Highlighting the diverse business landscape in Pakistan, the SAPM expressed that Pakistan has a lot to offer in both the goods and services sectors and can immensely gain from exports to the Gulf.
He commended the Kingdom’s commitment to providing enhanced employment opportunities for the Pakistani workforce in its future development ventures.
The Saudi envoy expressed a keen interest on behalf of the Saudi government to recruit more manpower from Pakistan during the current and next year for various sectors of the kingdom.
He stated that the Saudi labor market is continuing to expand, mainly due to the launch of several mega projects under the Saudi Vision 2030.
During the meeting, both dignitaries engaged in fruitful discussions on further strengthening of bilateral business relations, recruitment of more workforce from Pakistan, and enhancing FDI in potential sectors of the economy.
Meanwhile Special Assistant to Prime Minister Muhammad Jawad Sohrab Malik has said that Pakistan would receive $2billion deposits in its central bank from Saudi Arabia “within a few days,”.
Jawad Sohrab Malik made the announcement in a tweet after he held a meeting with Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki in the federal capital.
“Pakistan will receive $2 billion deposit in the SBP within a few days from KSA. A further $10 billion pledged by the Saudi Crown Prince will be invested in the Energy & IT sectors over a period of 2 years,” he wrote on Twitter.
“More crucially, large numbers of manpower from Pakistan will be engaged in the Saudi Vision 2030. Our nation owes a special gratitude to the PM @CMShehbaz for extracting Pakistan from its dire financial straits,” he added.
The special assistance also acknowledged the Saudi diplomatic and financial support for Pakistan throughout our history, especially during this critical phase.