High-Level Saudi Delegation Discusses Investment Projects with PM Shehbaz Sharif

High-Level Saudi Delegation Holds Talks on Investment Projects in Pakistan

Islamabad: A high-level delegation led by Saudi Foreign Minister Faisal bin Farhan met with Prime Minister Shehbaz Sharif to discuss investment projects in Pakistan.

The meeting, held at the Prime Minister’s House, was attended by Federal Ministers, including Ishaq Dar, who provided briefings on projects related to their respective ministries. The Saudi delegation was briefed on investment opportunities in transmission lines, solar projects, and mining ventures.

The delegation was presented with joint venture proposals for two five-star hotels in Islamabad, with land acquisition to be facilitated by the Capital Development Authority (CDA), and Saudi investment to finance the construction. Additionally, offers were made for the delegation to invest in the Pakistan International Airlines (PIA) and airport acquisitions.

Furthermore, proposals were extended for the establishment of a military transmission line and an offer from the First Women Bank. Discussions also included plans for the establishment of a health city, with options for the CDA to become a partner or provide land in exchange for funds.

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According to sources, the Central Secretariat of the Securities and Exchange Commission of Pakistan (SECP) is actively involved in facilitating investment projects. The Saudi delegation is set to meet President Zardari and Army Chief General Syed Asim Munir, with Prime Minister Sharif overseeing the finalization of various projects with the Saudi delegation.

The visit signifies a strengthening of bilateral ties and an enhancement of economic cooperation between Saudi Arabia and Pakistan, with significant investment opportunities being explored to promote economic growth and development in Pakistan.