A high-ranking Saudi delegation, led by Minister of Investment Khalid Al-Falih, is set to arrive in Islamabad tomorrow for a two-day visit from October 10-11.
During this trip, Pakistan is anticipated to sign agreements and memorandums of understanding (MOUs) worth approximately $2 billion across various sectors, including construction, IT, hospitality, agriculture, and energy.
The visit coincides with the upcoming Shanghai Cooperation Organisation (SCO) summit taking place in Islamabad later this month.
Minister Al-Falih will not only oversee the signing of these agreements but will also engage in business-to-business meetings and address a business forum.
Prime Minister Shehbaz Sharif has emphasized that this collaboration comes at a crucial time as Pakistan aims to attract foreign investment to stabilize its economy, which has faced significant challenges, including rising inflation.
The nation has already received support from the International Monetary Fund (IMF) and secured additional foreign loans amounting to $3.2 billion from international creditors, including a $1.2 billion commitment from the Saudi Oil Facility for the next year.