Pakistan, Saudi Arabia sign MoUs valuing $2.2bn in multiple sectors

Pakistan and Saudi Arabia signed 27 memorandums of understanding (MoUs) worth $2.2 billion in various sectors on Thursday. Last night, a high-powered Saudi delegation led by its Minister for Investment Sheikh Khalid Bin Abdul Aziz Al Faleh arrived in Islamabad on a three-day official visit. Prime Minister Shehbaz Sharif, Al Faleh and Chief of Army Staff (COAS) General Asim Munir witnessed the exchange of the signed copies of the MoUs in the sectors of industry, agriculture, information technology (IT), food, education, mining and minerals, health, petroleum, energy and other areas of mutual cooperation. Addressing the occasion, the prime minister said the visit of the Saudi business delegation was a “true manifestation of great sincerity and affection” for the people of Pakistan from Saudi Crown Prince Mohammed bin Salman.