Sources confirmed the decision as a new chapter in economic relations between the two countries. The announcement comes ahead of a high-level visit by a Saudi delegation led by Foreign Minister Prince Faisal bin Farhan, scheduled for April 16 and 17.
The delegation is made up of ministers from key sectors such as investment, water and agriculture, environment, industry, minerals, resources and energy. In addition, the delegation will be accompanied by the Secretary General of the Saudi-Pak Supreme Coordination Council and Saudi investors.
Preparations are underway to welcome the Saudi Arabian delegation, and several agreements and memorandums of understanding are expected to be signed during the visit.
The agreement is expected to cover a wide range of sectors, reflecting the depth and breadth of Saudi Arabia’s commitment to Pakistan’s economic development.
Government sources expressed hope for the visit, citing its potential to improve Pakistan’s economic situation. The $7 billion investment is expected to have a huge impact not only on Pakistan’s economy but also on attracting foreign investment.
In addition to the meeting of government officials including President Asif Zardari, Prime Minister Shehbaz Sharif, and Army General Asim Munir, the Saudi delegation is expected to deepen cooperation and collaboration between the two countries.
Overall, Saudi Arabia’s huge investment reflects its confidence in Pakistan’s economic potential and lays the foundation for prosperity and development in the region.
