Pakistan, Saudi Arabia vow to expedite first wave of $5 billion investment package 

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2024-04-08T19:01:00+05:00

Makkah Al-Mukarramah (Web Desk /Agencies): Pakistan and Saudi Arabia have affirmed their commitment to expediting the first wave of Saudi investment worth $5 billion in Pakistan.

This was said in a joint statement released by Pakistan and the Kingdom of Saudi Arabia (KSA).

As per the statement, Prime Minister Shehbaz Sharif called on Prince Mohammed bin Salman bin Abdulaziz Al Saud, the Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, on Sunday, at Al-Safa Palace in Makkah Al-Mukarramah, the statement said.

It said during the meeting emphasis was placed on the Kingdom's supportive role in Pakistan's economy and the mutual desire to strengthen trade and investment ties.

At the outset, the Crown Prince extended his congratulations to Prime Minister Shehbaz Sharif on assuming office, and expressed warm wishes for his tenure.

PM Shehbaz Sharif, in turn, conveyed gratitude for the Kingdom's steadfast support and hospitality, and reaffirmed Pakistan's commitment to bolstering bilateral ties and economic cooperation.

The discussions centered on fortifying the fraternal relations between the two brotherly nations and exploring avenues for enhanced collaboration across various sectors.

Both leaders also exchanged views on regional and global developments of mutual interest, including the worrying situation in Gaza.

They urged for international efforts to halt Israeli military operations in Gaza, mitigate humanitarian impact.

The two leaders underscored the imperative for the international community to pressure Israel to cease hostilities, adhere to international law, and facilitate unhindered humanitarian aid access to Gaza.

They two leaders discussed the need for advancing the peace process in accordance with relevant resolutions of the United Nation Security Council (UNSC) and the General Assembly (UNGA) as well as the Arab Peace Initiative aimed at finding a just and comprehensive solution, for the establishment of an independent Palestinian state with East Jerusalem as its capital.

The two sides stressed the importance of dialogue between Pakistan and India to resolve the outstanding issues between the two countries, especially the Jammu and Kashmir dispute to ensure peace and stability in the region.

PM Shehbaz invited the Crown Prince to undertake an official visit to Pakistan, at the earliest convenience which he accepted.

Separately, Prime Minister Shehbaz Sharif on Monday performed Umrah and offered Nawafil inside Kaaba as he was granted access inside Baitullah, as a special gesture.

The prime minister, who was on a three-day visit to Saudi Arabia, performed Tawaaf – the circumambulation of Kaaba – and other rituals.

He prayed for the country’s progress and prosperity, the Muslim Ummah’s unity, and global peace. 

PM Shehbaz specially prayed for the salvation of the oppressed Muslims particularly those of Indian Illegally Occupied Jammu and Kashmir (IIOJK) and Palestine from the subjugation.

The federal cabinet members and Punjab chief minister accompanied the prime minister.

 After completing his visit to Saudi Arabia, PM Shehbaz Sharif on Monday left for Lahore from Jeddah.

Governor of Jeddah Prince Saud bin Abdullah bin Jalawi bid farewell to the premier at Jeddah's International Airport.

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