Saudi Crown Prince and Prime Minister Mohammed Bin Salman is likely to visit Islamabad between May 10 to 15 which aims to materialise $5 billion investment in Pakistan in various sectors, Geo News reported citing sources on Monday.
The visit of the top dignitary holds vital importance to Pakistan eyeing big investment from Saudi Arabia in diverse fields which would further strengthen via Prince Salman’s forthcoming visit this month.
It would be the first visit of Saudi Prime Minister Salman, also known as MBS, to Pakistan in five years as he last time visited the country in February 2019 during the rule of former prime minister Imran Khan.
The visit would also materialise the understanding reached between both countries during Prime Minister Shehbaz Sharif's recent visit to the kingdom regarding Saudi investments worth $5 billion in Pakistan.
However, a government spokesperson said the date of the Saudi crown prince's visit had not been finalised yet.
The Saudi crown prince was expected to visit Pakistan in 2023 as part of his regional tour, however, the visit was called off.
A 50-member high-level Saudi trade delegation — led by the Deputy Investment Minister of Saudi Arabia Ibrahim Almubarak — is already present in Pakistan which landed in Islamabad yesterday on a two-day official visit to explore various avenues of trade and investment ahead of Prince Salman’s expected arrival in the coming days.
The companies which are part of the delegation represent different economic sectors, including information technology, telecoms, energy, aviation, construction, mining exploration, agriculture and human resource development.
Prior to the trade delegation, Saudi Foreign Minister Prince Faisal Bin Farhan arrived in Pakistan on a two-day visit last month in which he pledged that the kingdom would play its all-out role in the economic development of its brotherly country.