Saudi Ambassador to Pakistan Nawaf Saeed Al-Malki on Wednesday (Nov 14), said in an interview that Saudi Arabia will release first installment of aid amounting to $3 billion in next few days, adding that this financial aid will help to Pakistan to overcome balance-of-payments crisis.
Moreover, he said that Saudi companies are interested investing in Pakistan. Replying to a question, he said “We are also seeking to set up a petrochemical industry near Karachi.” “The Saudi companies are keen to invest a huge amount of around $6-8 billion for establishing an oil refinery in Pakistan,” he added. On the behalf of Custodian of the Two Holy Mosques King Salman bin Abdul Aziz and Crown Prince Muhammad bin Salman he said that, Saudi Authorities have “great significance to the Kingdom’s ties with Pakistan in the interest of the two people and Ummah”.
Earlier, Foreign Minister Shah Mehmood Qureshi, made it clear that, there are no hidden terms and conditions behind this bailout package. “We have not made any promises in return for the aid that we need to hide.” “The package has not been given based on any conditions.”
Last month during the prime minister Imran Khan’s visit to Saudi Arabia, agreement was signed between Pakistan and Kingdom for $6 billion bailout package for Pakistan to overcome financial crisis.
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18 August, 2019