Saudi Arabia prepared a record investment package for Pakistan will suppose to provide the welcome subsidy for their Muslim ally suffering in lack of liquid cash, labeling the regional geographical challenges, according to the analysts.
According to the report, the investment is centralized of $ 10 billion refineries and oil complex in the strategic Gwadar Port on the Arabian Sea, the utmost destination for the massive investment of multi-billion dollar on the Economic Corridor between China and Pakistan, which lies not far from the Indo-Iranian port of Chabahar.
Two Saudi sources have ensured that the apparent owner of the Arabian kingdom, Saudi Crown Prince Mohammed Bin Salman, will visit Islamabad shortly, without informing a date.
A number of deals based on the major investment are assumed to be an agreement during a tour, according to the officials of both countries.
Islamabad and Riyadh, the long periodic allies, have been involved in discussions for months to figure out the details of the deals timely for the high-profile tour.
A senior official of Pakistan Finance Ministry told, “The outcome of the talks so far has been very positive and this is going to be one of the biggest-ever Saudi investments in Pakistan”.
The official also told, “ We hope that an agreement to this effect will be signed during the upcoming visit of the Saudi crown prince to Pakistan”.
The biggest trading partner of Islamabad in the Middle East, including the United Arab Emirates and Saudi Arabia, have offered the Prime Minister of Pakistan, Imran Khan, around $30 billion in investment and loans.
The high amount of investment from Riyadh has assumed a lifeline for the collapsing economy of Pakistan, which was demoted in early February by S and P ratings from a B to a B- Saudi economist, Fadhl Al Buenain told.
The Saudi economist also told, “Saudi investment to Pakistan comes within an economic aid package aimed at relieving the stress of external debt and a shortage of foreign currency, besides boosting the sluggish economy ”.