Pak-Saudi Business Council meeting: Saudi govt to invest in mineral, development of ports, motorways

Several bilateral agreements were singed to increase Saudi investment in Pakistan at the meeting of the Saudi-Pak Joint Business Council on Friday, reported 24NewsHD TV Channel. 

According to officials, Saudi Arabia, Pakistan sign agreements for construction and development of ports and motorways. Agreement reached with Saudi Arabia for construction of Karachi-Hyderabad motorway, development of real estate and minerals. 

Saudi-Pak Business Council Chairman Prince Mansour bin Mohammed Al Saud signed the agreements. A meeting of the Pak-Saudi Business Council was held in Islamabad under the auspices of SIFC and the Joint Business Council. The Former Caretaker Minister Gohar Ejaz, Chairman Pak-Saudi Joint Business Council Fawad Mukhtar jointly chaired the meeting. 

Federal Ministers Musaddiq Malik, Ali Pervaiz Malik and Adviser on Privatization Muhammad Ali attended the meeting. Saudi investors were briefed on joint investment projects in Pakistan. 

Business-to-business meetings were held between Pakistan and Saudi Arabia. Meetings were also held between Saudi Arabia and Pakistan at the government level. Saudi investors were invited to participate in projects including the power sector. Saudi investors were briefed on transmission lines and smart metering. 

Saudi investors briefed on investment opportunities in petroleum, mineral sectors, officials say Director General SIFC Major General Asadur Rehman thanked Saudi investors, officials said. 

Talking to media, former trade minister Gohar Ejaz said that Saudi investors are showing interest in investing in Pakistan. He said bilateral investment was being promoted between Saudi Arabia and Pakistan. 

Gohar Ejaz said Saudi Arabia's investment in Pakistan was very important. He said that Pakistan is an attractive place for investors as special incentives were being given to foreign investors in Pakistan. 

Gohar Ejaz said foreign investors get the highest profits in Pakistan, adding that Pakistan can emerge as a strong economic power along with a strong defense force. 

Reporter: Waqas Azeem