Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Saudi Arabia to Bolster Pakistan’s Economy with a Monumental Investment
PhotoNews PakistanPhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Saudi Investment in Pakistan
PhotoNews Pakistan > Pakistan > Saudi Arabia to Bolster Pakistan’s Economy with a Monumental Investment
Pakistan

Saudi Arabia to Bolster Pakistan’s Economy with a Monumental Investment

Web Desk
By Web Desk Published September 5, 2023 4 Min Read
Share
SHARE

In a significant announcement, caretaker Prime Minister Anwaarul Haq Kakar revealed that Saudi Arabia plans to invest up to $25 billion in various sectors in Pakistan within two to five years. This substantial investment is expected to bolster the mining, agriculture, and information technology sectors, aiding in elevating Pakistan’s foreign direct investment (FDI). This move comes as a beacon of hope as Pakistan navigates a precarious route to economic recovery, bolstered by a $3 billion loan programme facilitated by the International Monetary Fund (IMF) to prevent a sovereign debt default. Pakistan is grappling with a balance of payments crisis, necessitating significant funds to address its trade deficit and debt repayments. This proposed investment is potentially the largest Saudi investment in Pakistan to date.

Kakar remained discreet regarding the specific projects under consideration for this investment but highlighted potential collaboration involving Saudi Arabia’s wealth fund in the Reko Diq gold and copper mine. The Prime Minister underscored the untapped potential of Pakistan’s mineral wealth, estimated at around $6 trillion, with a keen focus on initiating the Reko Diq project shortly. Kakar urged stakeholders to conceptualize a blueprint to harness these mineral-rich regions, transforming global perceptions of Pakistan. Kakar highlighted the roles of the Special Investment Facilitation Council (SIFC) in this economic resurgence, emphasizing the rearrangement of fiscal and monetary policies to foster economic revitalization without overhauling the existing governmental structure.

Elections and Power Sector Reforms

Addressing the impending general elections, PM Kakar reassured that the caretaker government is geared towards facilitating the elections promptly, adhering to constitutional mandates. He asserted that every registered political entity would have an equal opportunity to compete in the elections. However, he cautioned against political actions escalating to vandalism, which existing laws are in place to mitigate. Kakar condemned the May 9 attacks on military facilities as attempts to incite societal chaos, necessitating a lawful counteraction.

Simultaneously, the government is pioneering innovative solutions to relieve electricity consumers burdened by increasing costs. Kakar disclosed the government’s ambition to implement economic reforms, including the acceleration of power distribution company privatisations and taxation sector improvements. He emphasized the commitment to making informed decisions to appease the populace regarding electricity bill concerns without violating international financial agreements.

Regarding national security, Kakar drew attention to the threats posed by the remnants of military equipment left by the US and its allies in Afghanistan, emphasizing the necessity for a united strategy to address these issues. The prime minister expressed his faith in the ongoing collaboration with the army to foster economic recovery. Kakar acknowledged the widespread support for the China-Pakistan Economic Corridor’s second phase in Balochistan, assuring robust protection for Chinese personnel engaged in the project.

In a separate meeting, Kakar underscored the imperative to prioritize renewable and hydropower sources for affordable and environmentally friendly energy production. He advocated for developing small hydropower projects guided by expert opinion, emphasizing their role in mitigating climate change impacts. Kakar instructed the initiation of 2,400MW solar power projects committed to transparency, setting a positive trajectory for the power sector’s future.

TAGGED:FeaturedPak­istan
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

U ethanol ban hand sanitizers 2025

EU Considers Ban on Ethanol in Hand Sanitizers Over Cancer Risk Concerns

SJC judges code amendments

Justice Mansoor and Justice Muneeb Oppose Amendments to Judges’ Code of Conduct

China Rare Earth Export Global Supply Chains

Goldman Sachs Warns of Rare Earth Supply Risks from China’s Dominance

Post Archives

More Popular from Photonews

Pakistan Army strikes Afghan Taliban Bases in Kandahar
Pakistan

Pakistan Army Conducts Precision Strikes on Afghan Taliban Bases in Kandahar

3 Min Read
Nepal FIFA appeal 2027 Asian Cup
Sports

Nepal Appeals to FIFA to Overturn 2–0 Defeat to Malaysia Over Ineligible Player Claim

2 Min Read
Kevin Federline Britney Spears knife
Entertainment

Kevin Federline Alleges Britney Spears Held Knife While Watching Sons Sleep

3 Min Read
Sindh

NADRA to Recruit 200 Junior Executives Officers in Sindh

The National Database and Registration Authority (NADRA) announced the recruitment of 200 Junior Executives (Data Entry…

October 20, 2025
Sports

Maccabi Tel Aviv Fans Banned from Europa League Clash

Fans of Maccabi Tel Aviv will not be allowed to attend their upcoming Europa League match…

October 17, 2025
Entertainment

Kim Kardashian’s SKIMS Launches ‘Ultimate Bush’ Thong, Sparking Debate

Los Angeles: Kim Kardashian’s SKIMS has once again sparked online discussion with its latest lingerie release,…

October 15, 2025
Entertainment

Cardi B Praises Kim Kardashian for Featuring “Check Please” on Instagram

Rapper Cardi B publicly expressed admiration for Kim Kardashian after the reality star featured her song…

October 21, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?