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HomeBusinessPakistan and Saudi Arabia pledge to accelerate a $5 billion investment package.

Pakistan and Saudi Arabia pledge to accelerate a $5 billion investment package.

Pakistan and Saudi Arabia have reiterated their commitment to accelerating the implementation of a $5 billion investment package discussed earlier. Prime Minister Shehbaz Sharif and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud held official talks on Sunday at Al-Safa Palace in Makkah.

Prime Minister Sharif expressed gratitude for the Kingdom’s unwavering support and hospitality, reaffirming Pakistan’s dedication to strengthening bilateral ties and economic cooperation. The discussions focused on bolstering the fraternal relations between the two nations and exploring opportunities for enhanced collaboration across various sectors. Both sides emphasized the Kingdom’s supportive role in Pakistan’s economy and their mutual desire to enhance trade and investment relations. They affirmed their commitment to expediting the initial phase of the $5 billion investment package.

Addressing regional and global concerns, both leaders exchanged views on the situation in Gaza, stressing the need for international efforts to halt Israeli military operations, alleviate humanitarian suffering, and uphold international law. They emphasized the international community’s responsibility to pressure Israel into ending hostilities and ensuring unhindered humanitarian access to Gaza.

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The leaders also discussed advancing the peace process, in line with relevant Security Council resolutions and the Arab Peace Initiative, to achieve a just and comprehensive solution, including the establishment of an independent Palestinian state with East Jerusalem as its capital. They underscored the importance of dialogue between Pakistan and India to resolve outstanding issues, particularly the Jammu and Kashmir dispute, for regional peace and stability.

Prime Minister Sharif extended an invitation to the Crown Prince for an official visit to Pakistan, which was accepted.

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