Special Assistant to the Prime Minister (SAPM) Muhammad Jawad Sohrab Malik recently met with Saudi Arabian Ambassador to Pakistan, Nawaf bin Said Al-Malki, in Islamabad to explore opportunities for increasing bilateral cooperation between the two nations.
Jawad expressed his appreciation for Saudi Arabia’s consistent support of Pakistan and thanked the ambassador for confirming the $2 billion deposit from the Kingdom into the SBP account within the next seven working days. Both parties reaffirmed their dedication to reinforcing the bond between Pakistan and Saudi Arabia.
The SAPM emphasized the importance of Saudi Arabia’s aid, explaining that the $2 billion loan would assist Pakistan in overcoming its current financial challenges. This support could lead to similar commitments from the IMF and other friendly nations, such as the United Arab Emirates and Qatar, unlocking multilateral disbursements and facilitating a staff-level agreement (SLA) with the IMF.
Nawaf bin Said Al-Malki reiterated the Kingdom’s pledge to invest $10 billion in Pakistan’s energy and IT sectors over the next few years, highlighting the desire to establish lasting, sustainable investment relationships between Saudi Arabia and Pakistan. The Saudi envoy also expressed interest in recruiting more Pakistani workers for various sectors in the Kingdom this year and next, as the Saudi labor market continues to grow due to numerous mega projects under Saudi Vision 2030.
SAPM Jawad Sohrab Malik praised the diverse business landscape in Pakistan and the potential for exporting goods and services to the Gulf. He acknowledged the Kingdom’s commitment to offering increased employment opportunities for Pakistani workers in future development projects and the valuable contributions of Saudi FDI in enhancing Pakistan’s economic prospects.
The meeting concluded with productive discussions on strengthening bilateral business ties, increasing the recruitment of Pakistani workers, and boosting FDI in key economic sectors. The Saudi Ambassador and SAPM Jawad Sohrab Malik expressed optimism that their talks would usher in a new era of deeper, more significant cooperation between Pakistan and Saudi Arabia.
