ISLAMABAD: Following the Qatari leadership’s announcement to invest $3 billion in Pakistan, Saudi Arabia has also assured the Pakistani leadership of an investment of $1 billion, it was learnt on Thursday.
In this regard, Foreign Minister Bilawal Bhutto and his Saudi counterpart Faisal bin Farhan had a telephone conversation in which they discussed the promotion of bilateral brotherly relations.
During the call, the Saudi FM assured that his country will to invest $1 billion in Pakistan to which Bilawal Bhutto expressed his gratitude.
Earlier in July, the International Monetary Fund (IMF) had wanted to ensure that Saudi Arabia will follow through with as much as $4 billion in funding to Pakistan to ensure Islamabad does not have a financing gap after the IMF loan.
It is pertinent to mention here that Pakistan had sent the letter of intent (LoI) back to the Washington-based lender, paving the way for the executive board’s meeting in connection with the revival of the stalled programme under the Extended Fund Facility (EFF), on August 16.
On August 2, the Fund had confirmed that Pakistan has achieved all the set targets for the revival of EFF programme.
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