Reuters: A Saudi Arabian delegation, led by foreign minister Prince Faisal bin Farhan bin Abdullah, will visit Pakistan on Monday and Tuesday as part of efforts to boost economic cooperation, Pakistan's foreign ministry said in a statement on Sunday.
The visit takes place to expedite follow-up on the understanding reached between Pakistani Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman during their recent meeting in Makkah Al Mukarramah to enhance economic cooperation between the two countries, the foreign ministry said.
Sharif met with the crown prince last week and discussed expediting a planned $5 billion investment package, which cash-strapped Pakistan desperately needs to shore up its current account deficit and signal to the International Monetary Fund that it can continue to meet requirements for foreign financing that has been a key demand in previous bailout packages.
Pakistan has lately also been trying to secure Saudi investment in industries ranging from agriculture to mines, minerals and aviation.
In World
-
Volodymyr Zelensky has warned European leaders Donald Trump will ignore them if the continent doesn’t take better care of its own defences.
-
President Donald Trump signed an executive order temporarily suspending all U.S. foreign assistance programs for 90 days pending reviews to determine whether they are aligned with his policy goals.
-
President Donald Trump ordered the U.S. to withdraw from the Paris climate agreement on Monday, once again placing the world's top historic emitter of greenhouse gases outside the global pact aimed at pushing nations to tackle climate change. Here are some reactions to the announcement of the second U.S. withdrawal from the climate pact:
-
Moldova and its separatist Transdniestria region inched towards a deal on Monday to allow gas to flow to residents of the rebel enclave, who have been suffering from power and heating cuts since the start of the year.
Leave a review