Prime Minister Shehbaz Sharif is set to meet Crown Prince Mohammed bin Salman (MBS) following a special invitation to perform Umrah. This invitation comes as Pakistan seeks foreign investment to revitalize its economy, grappling with rupee devaluation, inflation, and high interest rates.
Upon finalizing the meeting, the Prime Minister will depart for Saudi Arabia, where discussions will focus on various projects benefiting Pakistan. Sources suggest Saudi Arabia may invest $1 billion in the Reko Diq project, a significant venture with substantial copper and gold reserves, in the coming weeks.
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Barrick, holding a 50% stake in Reko Diq, has expressed openness to Saudi investment in the project. The meeting between Shehbaz Sharif and MBS is expected to pave the way for enhanced collaboration beyond energy and mining, including agriculture.
Saudi Arabia’s investment in various sectors not only boosts its global influence but also facilitates development projects in partner countries like Pakistan. The visit on special invitation holds promise for multiple initiatives to bolster Pakistan’s economy and strengthen bilateral ties between the two nations.