Saudi Arabia will invest up to $25 billion in Pakistan over the next two to five years in various sectors, Pakistan’s caretaker Prime Minister Anwaar-ul-Haq Kakar said on Monday, adding his government would also revive a stalled privatisation process.
The South Asian nation is embarking on a tricky path to economic recovery under a caretaker government after a $3bn loan programme, approved by the International Monetary Fund (IMF) in July, averted a sovereign debt default.
Kakar, speaking to journalists at his official residence, said Saudi Arabia’s investment would come in the mining, agriculture and information technology sectors, and was a part of a push to increase foreign direct investment in Pakistan.
