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Pakistan to sign agreements worth $2 billion with Saudi Arabia

MM News Staff by MM News Staff
October 8, 2024

Prime Minister Shehbaz Sharif Tuesday said a Saudi delegation was also scheduled to visit Pakistan and MoUs and agreements worth $2 billion are expected to be signed.

During the federal cabinet meeting, the prime minister thanked China, Saudi Arabia, and the UAE for their support in obtaining the IMF loan facility and mentioned last week’s successful visit of Malaysian Prime Minister Anwar Ibrahim when the two sides agreed that Pakistan would export Halal meat and rice to Malaysia, state news agency (APP) reported.  

He said consequent to the finest level of teamwork, the IMF program had been approved, inflation was reduced from 32 percent to 6.9 percent, exports, remittances, and IT exports were increasing and the stock exchange was skyrocketing.   

He said sabotaging all these efforts for the sake of their politics would be the biggest conspiracy to the country.  

Highlighting his government’s reform agenda, he mentioned the doubled number of tax return filers, broadening the tax base, and the digitization of FBR.  

The premier said that a peaceful and secure atmosphere was inevitable to attract investment.

Thanking the IMF chief for her support in approving the IMF facility for Pakistan, the prime minister said that she was also appreciative of the reforms introduced by the incumbent and the caretaker governments.  

He also drew cabinet members’ attention to an attack that took place near Karachi airport killing two Chinese engineers and injuring another, despite the government’s all-out efforts to ensure their security.

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