Following the signing of 34 memoranda of understanding (MoUs) between Pakistan and Saudi Arabia, the two countries have secured investment deals worth $560 million, underscoring their commitment to strengthening bilateral ties in various sectors.
Prime Minister Shehbaz Sharif led a high-level meeting in Islamabad on Monday to review the progress of these agreements, emphasizing the importance of the strategic partnership between the two nations.
This meeting was part of the ongoing efforts under the Pakistan-Saudi Arabia Joint Task Force, which held its second meeting in November.
During the briefing, PM Sharif was informed that seven of the 34 MoUs have been formalized into binding agreements, resulting in investments across key sectors. These agreements are valued at $560 million.
The meeting was attended by prominent officials, including Deputy Prime Minister Ishaq Dar, Federal Minister for Economic Affairs Ahad Khan Cheema, and Finance Minister Muhammad Aurangzeb.
Prime Minister Sharif praised the progress of the projects underway and reaffirmed Pakistan’s commitment to further strengthen ties with Saudi Arabia, a long-standing ally.
“Saudi Arabia has always been a dependable partner, supporting us in difficult times,” Sharif remarked, reiterating the government’s goal to expand collaboration in economic development, energy, and infrastructure.
In addition, sources confirmed that PM Sharif will embark on a two-day visit to Saudi Arabia, starting tomorrow. His trip will include participation in the Water Summit and involvement in side events during COP 16. PM Sharif will be accompanied by key officials, including Federal Minister for Information Atta Tarar and Federal Minister for Petroleum Mosaddiq Malik.
