Saudi Arabia investing $20b in various sectors of Pakistan: FM

Saudi Arabia investing $20b in various sectors of Pakistan: FM

Foreign Minister Makhdoom Shah Mahmood Hussain Qureshi has said that Saudi Arabia is investing 20 billion dollars in various sectors of Pakistan in first phase.

Addressing a joint news conference along with Saudi Minister of State for Foreign Affairs Adel al-Jubeir in Islamabad on Monday, he said seven MoUs have been signed with Saudi side and more will be signed soon.

Foreign Minister appreciated Saudi acceptance of Pakistan's long-standing demand of reduction in visa fee for Pakistani nationals. He said reduction in visa fee for Pakistanis will facilitate the people who will proceed to Saudi Arabia for various purposes.

He said it has been decide to set up Supreme Consultative Coordination Council to ensure structured institutionalized mechanism with regard to the implementation of MoUs . He said the council will make action plan and oversee progress on the implementation of the MoUs.

He said Prime Minister Imran Khan has requested the Saudi Crown Prince to look into the issue of providing facilities to Pakistani pilgrims to Saudi Arabia and the Pakistani citizens detained in Saudi jails and hopefully there will be an encouraging response from the Saudi side.

To a question, Shah Mahmood Qureshi said Pakistan respects the sovereignty and territorial integrity of Iran. He said Pakistan is very upset at the terrorist incidents in Iran and we reject all kinds of militancy.

Speaking on the occasion, Saudi Minister of State for Foreign Affairs Adel al-Jubeir said relations with Pakistan are improving at every level. He said Saudi Arabia is extending cooperation to Pakistan in various projects. He said we want to see Pakistan as an economically stable and viable country.

Adel al-Jubeir said we want to participate in Pakistan's economic growth and share the vision of Prime Minister Imran Khan to take his country to new heights. He said our investment in Pakistan is not charity and it is for mutual benefit of both the countries and their people.

Saudi Minister of State for Foreign Affairs said we have deep and historical relations with Pakistan. He said there is a strong people to people cooperation between both the countries

Replying to a question, he said terrorism is a common enemy and Pakistan and Saudi Arabia are on the same page to eradicate this menace.

On Pak-India relations, he said we want both countries to resolve their conflicts and have peaceful relations.