Tarar says work has begun on Saudi investment projects

Information Minister Ataullah Tarar said this week that work has begun on several multi-billion dollar Saudi projects in Pakistan, which he said would help improve the country’s economy and provide employment opportunities to many people. will get Pakistan and Saudi Arabia have signed several memorandums of understanding. worth $2.8 billion in October. Sharif’s office said on Monday that it had been signed with Saudi ArabiaSeven of the 34 MoUs have been formalized into contracts worth $560 million. On the sidelines of the One Water Summit in Riyadh, Nawaz Sharif also met French President Emmanuel Macron and discussed investment opportunities in the energy sector. “There is evidence that they [Saudi Arabia] are going to invest billions of dollars in Pakistan, many of these projects have already started at the ground level,” Tarar told a news conference on Wednesday.” “As you saw Aramco opened its [fuel] pumps here in Pakistan and had a grand opening. Discussions are also going on about their fast food chain Albeek and other big projects are also being discussed. Sharif’s visit to Saudi Arabia was a short but important one, Tarr said, adding that it marked the fifth meeting between the Pakistani prime minister and the Saudi crown prince in the past six months. bBoth countries since assuming office as Prime Minister this year. He has many times publicly expressed his desire for Pakistan to cooperate with the kingdom in trade, defense, economy, agriculture, tourism and other sectors. Saudi Arabia has often bailed Pakistan out of economic crisis and provided oil in the past. South Asian country on deferred payments. In April, the kingdom pledged to accelerate a $5 billion investment portfolio for Islamabad