Musadik Malik, Pakistan’s Minister of State for Petroleum said that Saudi Arabia is willing to invest $24 billion in Pakistan. He was talking to a local TV channel and mentioned that Pakistan is welcoming investment in energy, IT and agriculture sectors.
Ishaq Dar, Finance Minister Pakistan, has also confirmed in a press conference that Saudi Arabia had transferred $2bn to the State Bank of Pakistan (SBP).
Pakistan is currently facing many challenges including the fear of default, high inflation, low foreign direct investment and unemployment.
This week SBP’s foreign exchange reserves dropped by $32 million, now standing at $8,153.8 million.
