Pakistan
Saudi Arabia to invest $25bn in Pakistan
The announcement of plans to invest a staggering $25 billion in Pakistan represents Saudi Arabia's largest-ever investment in that nation.
Islamabad: A significant declaration from Saudi Arabia revealed its intentions to make the country's largest-ever investment—a staggering $25 billion—in Pakistan.
The Saudi Arabia made an announcement on Tuesday provided Pakistan's economy a significant boost. The announcement of plans to invest a staggering $25 billion in Pakistan represents Saudi Arabia's largest-ever investment in that nation.
The distribution of the funds is expected to have wide-ranging effects and could spark growth in a number of industries in Pakistan, including mining, agriculture, and the IT sector.
The interim government will finish approving the privatization process for two state-owned energy companies in the next six months, the prime minister said, adding that further discussions will be held on the privatization of another company outside the energy sector. He emphasized that Pakistan's mineral resources are valued at close to $3 trillion.
The $25 billion investment will be Saudi Arabia's largest in Pakistan to date, according to the news agency Reuters.