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Foreign Minister Denies Reports Of US$20 Billion Saudi Investment. But Press Release Tells A Different Story

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Saudi Arabia’s Crown Prince Muhammad Bin Salman is expected to visit Pakistan on February 16 and according to reports, Pakistan and Saudi Arabia will be signing several agreements. Pakistan will also be receiving a US$20 Billion Saudi investment over the next few years.

Foreign Minister Shah Mehmood Qureshi has denied reports of the potential investment, according to journalist Waseem Abbasi. However, the press release issued to journalists and media persons at the Foreign Office mentioned that “the potential volume of investments from Saudi Arabia is more than US$ 20 Billion in the next few years.”

The release further said that a group of Saudi businessmen, accompanying the crown prince, will have progressive business interactions with the private and public sectors. Moreover, Pak-Saudi business conferences will also be held to make the most of the Saudi dignitaries’ visit.

During Muhammad Bin Salman’s two-day stay, Pakistan and Saudi Arabia will be signing a number of agreements and MoUs related to diverse sectors, including investment, finance, power, renewable energy, internal security, media, culture and sports.

“The visit is intended to pave way for strategic economic alliance between Pakistan and Saudi Arabia,” the release said.

According to reports, Prime Minister Imran Khan will himself receive the crown prince at the airport. Moreover, Muhammad Bin Salman will stay at the PM House during his trip to Pakistan.

He will also be given VVIP protocol when his plane enters the Pakistani airspace and will be presented a salute by JF-17 Thunder fighter jets

Muhammad Bin Salman is visiting Pakistan on invitation of PM Khan.

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