RIYADH: Saudi Arabia has announced to study options to increase its investment in Pakistan to reach $10 billion mark and increase its deposit in State Bank of Pakistan (SBP) to $5 billion.
This was official announced here on Tuesday by Saudi Press Agency (SPA), hours after the meeting that took place between Army Chief General Asim Munir with Saudi Arabia’s Crown Prince Mohammed bin Salman received in AlUla.
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The Saudi Press Agency said His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, has directed to study augmenting the Kingdom of Saudi Arabia’s investments in the sisterly Islamic Republic of Pakistan which have previously been announced on August 25, 2022 to reach $10 billion.
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According to SPA, HRH the Crown Prince also directed the Saudi Development Fund (SDF) to study increasing the amount of the deposit provided by the Kingdom of Saudi Arabia in favor of the Central Bank of Pakistan (CBP) which have previously been extended on December 2, 2022 to hit a $5billion ceiling, confirming the Kingdom’s position supportive to the economy of the Islamic Republic of Pakistan and its sisterly people.
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This came within the framework of the existing communication between HRH the Crown Prince and Muhammad Shehbaz Sharif, Prime Minister of Pakistan.
