Pakistan’s Foreign Office says that a high-level delegation headed by Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan will arrive in Pakistan on a two-day visit (today), Monday, April 15.
According to the Foreign Office, the Saudi delegation will stay in Pakistan from April 15 to 16, where they will meet the President of Pakistan, the Prime Minister, the Foreign Minister and their counterpart ministers, including the Army Chief and the apex committee of SIFC.
The Saudi delegation visiting Pakistan includes Minister of Water and Agriculture Engineer Abdul Rahman Abdul Mohsen Al-Fazli, Minister of Industry and Mineral Resources Bandar Ibrahim Al-Khorif, Deputy Minister of Investment Badr Al-Badr, Head of the Saudi Special Committee Muhammad Moeed Al-Tawijri and the Ministry of Energy and the Saudi Fund for Senior officials of General Investments are involved.
According to the Foreign Office of Pakistan, this visit is aimed at the early completion of the agreements reached during the recent meeting between Prime Minister Shahbaz Sharif and Saudi Arabia’s Crown Prince Mohammed bin Salman in Makkah to increase bilateral economic cooperation. is about.
The Saudi delegation will hold meetings with the President, Prime Minister, Foreign Minister and their counterpart ministers along with the Chief of Army Staff and the apex committee of SIFC.
According to the Ministry of Foreign Affairs of Pakistan, the purpose of this visit is to promote mutual cooperation and to positively encourage mutually beneficial economic partnership.
Earlier this month, on April 7, Pakistan’s Prime Minister Shahbaz Sharif met Saudi Crown Prince Muhammad bin Salman in Mecca.
After this meeting, Pakistan’s Foreign Office said in a statement that Pakistan and Saudi Arabia have confirmed that they are committed to speeding up the five billion dollar investment package.
Prior to the visit of a high-level delegation headed by Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan, the Secretary General of the Islamic League of Nations, Dr. Muhammad bin Abdul Karim Al-Aesa, has also visited Pakistan at the invitation of Pakistan’s Prime Minister Shahbaz Sharif.
Dr. Muhammad bin Abdul Karim Al-Eisa arrived in Pakistan on April 10 on the official invitation of Prime Minister Shehbaz Sharif and will remain in Pakistan till April 15.
Meanwhile, Dr. Muhammad bin Abdul Karim Al-Aesa delivered the Eid-ul-Fitr sermon at Faisal Mosque in Islamabad, while on April 13, he met Prime Minister Shahbaz Sharif and also attended the foundation stone ceremony of Sirat Museum as a special guest.
The Secretary General of the Islamic League Dr. Muhammad bin Abdul Karim Al-Eisa met with the Prime Minister of Pakistan Shehbaz Sharif on April 13, 2024 (Prime Minister’s Office).
On the other hand, Pakistan’s official media has reported on Sunday that there is a possibility of Saudi investment of up to one billion dollars in the copper and gold mine project in Rekodak area of Balochistan’s southwestern province of the country next month.
Rekodic deposit located in Chagai district of Balochistan is one of the largest unexploited copper and gold deposits in the world. The mines here can extract large amounts of precious metals for decades.
Canada-based Barrick Gold Corporation owns 50 percent of the project, while three federal government agencies own 25 percent and Balochistan owns 15 percent on full payment. The province paid nothing for the 10 percent ownership.
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Radio Pakistan has reported that Saudi Arabia is likely to invest up to one billion dollars next month in the Rekodic copper and gold project located in Chagai district of Balochistan.
Pakistan established the SIFC in June last year with the sole objective of reviving the country’s economy weakened by low foreign exchange reserves, currency depreciation and record inflation.
In the following months, Islamabad signed a number of bilateral agreements with its Middle Eastern brethren, including former caretaker prime minister Anwarul Haq Kakar and army chief General Asim Munir.
According to a report by Radio Pakistan, Prime Minister Shehbaz Sharif will soon form a committee comprising officials from the Ministry of Finance and other parties to ensure the completion of the investment process by Saudi Arabia.
The report states that ‘after this investment, Pakistan and Saudi Arabia will also sign more investment agreements in the mining sector.’
