Saudi Arabia has set the ball rolling on taking its investments in Pakistan to $10 billion, with Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, issuing a directive to study various plans to augment investments.
The directive follows Saudi Arabia announced on August 25, 2022, an investment target of $10 billion in Pakistan.
The Crown Prince also directed the Saudi Development Fund (SDF) to study increasing the amount of the deposit provided by the country in favor of the Central Bank of Pakistan (CBP) to $5 billion.
The deposit tenure was previously extended on December 2, 2022.
The directives are seen as part of the kingdom’s decision to support Pakistan’s weakening economy.
The moves are part of the framework of the existing communication between the Crown Prince and Muhammad Shehbaz Sharif, Prime Minister of Pakistan.
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