The Kingdom of Saudi Arabia has restated its commitment to expedite the initial phase of its $5 billion investment in Pakistan, as announced in a joint statement from the Ministry of Foreign Affairs spokesperson’s office on Monday.
Prime Minister Shehbaz Sharif held talks with Prince Mohammed bin Salman bin Abdulaziz Al Saud, the Crown Prince and Prime Minister of Saudi Arabia, on Sunday at Al-Safa Palace in Makkah Al-Mukarramah, as per the statement.
Both sides reaffirmed their dedication to accelerating the first stage of the $5 billion investment package previously discussed. They emphasized Saudi Arabia’s supportive role in Pakistan’s economy and expressed mutual interest in strengthening trade and investment relations.
During the meeting, Prince Mohammed extended congratulations to PM Shehbaz on assuming office and conveyed warm wishes for his tenure. In response, the Prime Minister expressed gratitude for Saudi Arabia’s unwavering support and hospitality, reiterating the commitment to enhancing bilateral ties and economic cooperation.
The discussions focused on bolstering the fraternal relations between the two nations and exploring avenues for enhanced collaboration across various sectors. Additionally, both leaders exchanged views on regional and global developments of mutual interest, including the concerning situation in Gaza.
They urged for international efforts to halt Israeli military operations in Gaza, mitigate the humanitarian impact, and stressed the importance of pressuring Israel to cease hostilities, adhere to international law, and facilitate unhindered humanitarian aid access to Gaza.
Moreover, they emphasized the significance of advancing the peace process in line with relevant resolutions of the Security Council and the General Assembly, as well as the Arab Peace Initiative, aiming for a just and comprehensive solution, including the establishment of an independent Palestinian state with East Jerusalem as its capital.
Furthermore, they underscored the importance of dialogue between Pakistan and India to resolve outstanding issues, particularly the Jammu and Kashmir dispute, to ensure peace and stability in the region.
Prime Minister Shehbaz extended an invitation to the Crown Prince to visit Pakistan officially at his earliest convenience, which was accepted by Prince Mohammed bin Salman, according to the official statement.