Saudi Crown Prince Muhammad Bin Salman to visit Pakistan on November 21
Saudi Crown Prince Muhammad Bin Salman will visit Pakistan on November 21, Pakistan-based ARY News reported citing unnamed diplomatic officials.
According to reports, the visit entails Saudi investments in Pakistan, with the crown prince expected to announce an additional bailout package of $4.2 billion.
Riyadh had already rolled over $3 billion dollar loan that Pakistan had to pay later this year.
Last week, Finance Minister Ishaq Dar during his recent visit to Saudi Arabia sought an additional $4.2 billion financial bailout package. He said that the kingdom had given a positive response.
The news outlet quoting sources said that the Saudi prince would also sign an agreement with Pakistan for helping in the establishment of an oil refinery in Gawadar.
On October 28, Prime Minister Shehbaz Sharif said that Saudi Crown Prince and Prime Minister Mohammed bin Salman would soon be visiting.
On Tuesday, the Pakistani premier met the crown prince on the sidelines of the 2022 UN Climate Change Conference in Sharm El-Sheikh, Egypt.
“Looking forward to the upcoming visit of the (Saudi) Crown Prince to Pakistan,” Sharif had said.
He further said that the Saudi crown’s visit to Pakistan would strengthen the multilateral partnership between the two countries, said a statement issued by Sharif’s office.
Earlier, there was uncertainty over the visit of the crown prince due to political turmoil that emanated following the assassination attempt on former Pakistan prime minister Imran Khan during his rally in Waziristan, Punjab province.
Apart from that, Pakistan is also facing an economic crisis as it has failed to repay loans to China. During the visit of Prime Minister Shebhaz Sharif to Beijing, President Xi Jinping agreed to roll over $7.3 billion loan with a commitment to provide additional $1.5 billion in assistance.
(With inputs from agencies)
