Finance Minister Asad Umar has told that Saudi Arabia is about to announce an investment package, which is going to be the ‘biggest foreign investment in Pakistan’s history’.
He said this while addressing an event in Islamabad. He further added that it is up to Pakistan now. The government will make an announcement after getting the cabinet’s approval next week.
Umar said that he has been receiving messages from the Saudi Crown Prince Mohammad Bin Salman through other people to expedite the process.
He further underlined that the citizens of Pakistan wanted accountability in the society, which demands that the corrupt elements of the society should be sent to jail.
Notably, Pakistan and Saudi Arabia are mulling over a bailout package for the former. Attending the Future Investment Initiative Conference (FIIC) in Riyadh, Prime Minister Imran Khan invited the foreign investors to put their money in projects in Pakistan.
He told the participants of the conference that Pakistan is trying to create an enabling environment for investment. “The plan is not just to attract foreign and overseas investors, but our own investors as well. We are restructuring our duty sectors [in this regard],” said the PM.
He resented that there exist ‘largely untapped mineral reserves’ that could not be extracted in the past due to terrorism and corruption issues. However, he said, the situation is changing now.