Pakistan to Sign $2 Billion Agreements with Saudi Arabia During High-Level Visit

Prime Minister Shehbaz Sharif announced on Tuesday that Pakistan is set to sign agreements worth approximately $2 billion with a Saudi delegation later this month. The delegation, led by Saudi Investment Minister Khalid Bin Abdulaziz Al-Falih, is scheduled to visit Pakistan from October 9 to 11, just ahead of the Shanghai Cooperation Organisation (SCO) meeting that the country will host on October 15-16.

The Saudi team will include representatives from both government and private sectors, indicating a deepening of economic ties between the two nations. These agreements are expected to cover various sectors, further strengthening the Pakistan-Saudi partnership.

During a federal cabinet meeting, PM Shehbaz highlighted several key developments, including the role of China, the UAE, and Saudi Arabia in helping Pakistan secure its International Monetary Fund (IMF) programme by providing timely financial assurances. He also pointed to the successful visit of the Malaysian prime minister and the upcoming Saudi delegation visit as further proof of Pakistan’s improving economic trajectory.

Addressing political tensions during the SCO summit, the prime minister commented on clashes between Pakistan Tehreek-e-Insaf (PTI) supporters and police, accusing them of attempting to “stay relevant” as the country’s economy improves. He noted that inflation is decreasing, exports are on the rise, and Pakistan’s “homegrown growth programme” is making progress despite efforts to disrupt it.