Islamabad: The federal cabinet has approved the signing of eight memoranda of understanding (MoUs) with Saudi Arabia, a news source reported. The decision was taken during a cabinet meeting presided over by Prime Minister (PM) Imran Khan. The MoUs will be signed during the upcoming visit of Crown Prince Mohammed bin Salman to Pakistan.
Information Minister Fawad Chaudhary addressed the media about the cabinet’s decisions. He informed that the MoUs, along with the other agreements and incoming investments expected, make up for more than the overall investments received during the last decade.
The Minister stated that Saudi Arabia is investing $8 billion alone in an oil refinery. He added that the Crown Prince will meet with President Arif Alvi and PM Khan, and attend other important high-level official sessions.
In response to a question, Chaudhary said that the government hopes the Crown Prince’s visit to India afterwards will also benefit Pakistan.
