$6 Billion Saudi Package For Pakistan<\/figcaption><\/figure>\nApart from attending the conference, Imran also met with King Salman bin Abdul Aziz and Saudi Crown Prince Mohammad bin Salman to discuss matters of mutual interest.<\/p>\n
Crown Prince Muhammad bin Salman (MBS) agreed to the prime minister\u2019s suggestion to reduce visa fee for Pakistani workers, which is a significant step towards enhancing the country\u2019s workforce in Saudi Arabia as well as facilitating travel of people from both the countries.<\/p>\n
\u201cFar-reaching decisions on bilateral economic and financial cooperation were also agreed during the meetings with Saudi leadership,\u201d the statement said.<\/p>\n
A memorandum of understanding (MoU) was signed between Finance Minister Asad Umar and Saudi Finance Minister Muhammad Abdullah Al-Jadaan under which Saudi Arabia would place a deposit of $3 billion for a period of one year as balance of payment support.<\/p>\n
The earlier visit of Saudi delegation had evaluated the possibility of investing in a petroleum refinery in Pakistan. Saudi Arabia confirmed its interest in this project, and an MoU will be signed after obtaining the federal cabinet\u2019s approval.<\/p>\n
Saudi Arabia also expressed interest in development of mineral resources in Pakistan. For this purpose, the federal government and Balochistan government will consult, following which a delegation of the Kingdom will be invited to visit Pakistan.<\/p>\n
After the inauguration of the FII conference, a Pakistan-specific session was organized in which Prime Minister Imran Khan underlined the country’s priorities towards optimising the economy and attracting foreign investment. Stressing the focus of his government on human resource development, the prime minister highlighted the potential of Pakistani youth and identified lucrative investment opportunities in the tourism sector, minerals, coal and gas exploration and information technology. The prime minister also took several questions from the audience comprising hundreds of entrepreneurs.<\/p>\n
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