Saudi crown prince to visit Pakistan on February 16


The Saudi Crown Prince will arrive in Pakistan on February 16 for a two-day visit, according to the Saudi ambassador, and is expected to stay at the PM House.

Following the visit of Saudi crown prince, the BoI would remain in constant touch with their Saudi counterparts on technical level, he said.

Pakistan and Saudi Arabia are likely to sign over $10 billion investment agreements, including a multibillion dollar oil refinery in Gwadar, during his visit.

The unprecedented Saudi investment is being viewed by Prime Minister Imran Khan's nascent government as a major boost for cash-strapped Pakistan, which is facing an economic crisis and balance of payments pressure.

A Pakistani official said Prime Minister Khan has developed a "special relationship and friendship" with MBS and the two leaders have vowed to further deepen ties between the two countries.

The crown prince accompanied by a high-powered delegation including members of the Royal family, key ministers and leading businessmen, the spokesman said. It worth $14 billion and is considered the biggest trade deal of Pakistan's history.

Continuing, he said that Commander of the Islamic Coalition General Raheel Sharif during a meeting with him [Qureshi] the other day had made it clear that the force was not specific to any country or group.

More news: Oil Holds Gain as Saudi, Venezuela Supply Cuts Eclipse U.S. Boom
More news: Assassin's Creed Odyssey New Game Plus mode coming later this month
More news: Russian Federation challenges United States defense in space, developing capabilities

The foreign minister said: "He is leaving for Germany tomorrow (Thursday) to attend Munich conference on Afghan issue". So, the Saudi cabinet has authorized the above-discussed ministers to sign a MoU between KSA and Pakistan.

"This investment is bilateral and has nothing to with CPEC", the minister said. "Saudi Arabia has always helped Pakistan in testing times", he said.

Advisor to Prime Minister Abdul Razak Dawood said Saudi Arabia had plans for $7 billion investment in power sector for two years besides $2 billion in renewable energy including solar and wind projects.

Tom Barrack, a financier and close ally of President Donald Trump, defended the murder of Jamal Khashoggi while speaking at a summit in Dubai this week, stating that "atrocities" committed by the United States are "equal, or worse" than those committed by Saudi Arabia.

While the current United States president, Donald Trump, said Riyadh's explanation was "credible", many others from the global community condemned the killing with Germany, Norway and Denmark all ceasing the sale of arms to Saudi Arabia.

The foreign office in Islamabad formally announced Saudi Prince Muhammad bin Salman's visit of Pakistan.