INSUBCONTINENT EXCLUSIVE:
Saudi Arabia&s foreign minister said on Tuesday that Riyadh will be &moving ahead significantly& to invest in projects in Pakistan, days
after Islamabad announced that the Kingdom had pledged to expedite $5 billion in investment, Reuters reported.Prince Faisal bin Farhan bin
Abdullah arrived in Islamabad on Monday to lead a delegation on a two-day visit as part of efforts to boost economic cooperation.His
Pakistani counterpart Ishaq Dar told a joint news conference that Pakistan gave extensive briefings to the delegation on potential
investment projects.Dar outlined areas of interest for Saudi investors such as agriculture, mining, information technology and aviation.The
prince said he was very impressed with the briefings on the investment opportunities, read the report.&This gave us some very, very
significant confidence that we will be able to move forward on those projects which we decide to identify as a worthy of investment,& he
said, adding, &I am sure we will be moving ahead significantly.&The delegation came to follow-up on the understanding reached between 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.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 dwindling foreign reserves and fight a chronic balance of payment
crisis.The Special Investment Facilitation Council (SIFC), a body consisting of Pakistani civilian and military leaders set up to promote
investment in Pakistan, briefed the delegates to showcase various sectors for investment, Dar said.The visit came ahead of Pakistan seeking
a 24th bailout from the International Monetary Fund
Pakistan Finance Minister Muhammad Aurangzeb is in Washington to attend the IMF, World Bank spring meetings where he will open formal talks
for the new loan programme, Reuters reported.The post Riyadh eyes significant investment in Pakistan, Saudi FM says first appeared on Ariana
