Islamabad, 8 November 2022 (TDI): Mohammed bin Salman, the Prime Minister and the Crown Prince of the Kingdom of Saudi Arabia (KSA) will arrive in Pakistan on 21 November.
The Saudi Embassy in Islamabad confirmed it. The Finance Minister of Pakistan, Ishaq Dar had announced his visit to Pakistan. During this visit, it’s anticipated that Pakistan will receive an additional bailout package from the KSA worth $4.2 billion.
It will be the Saudi Prime Minister’s second official visit to Pakistan. The first was in 2019 when the two Islamic countries signed agreements worth billion in investments.
These included a $10 billion Aramco oil refinery and a $1 billion petrochemical complex. It is also important to note that the Prime Minister of Pakistan, Shehbaz Sharif visited KSA last month.
While there, he attended the Saudi Future Investment Initiative Summit held in Riyadh. He also met the Crown Prince. At the conclusion of his trip, Shehbaz Sharif expressed optimism about Mohammad bin Salman’s much-anticipated visit.
He also expressed hope that the visit of the Saudi Prime Minister would result in progress in the financing of the oil refinery project.
Earlier this month, Finance Minister Dar confirmed that Saudi Arabia had agreed to roll over existing deposits totaling $3 billion.
Likewise, he had confirmed that the .
2 billion oil facility would continue until June 2023 with deferred payments of $100 million per month.
According to him, Saudi Arabia has also agreed to resurrect Pakistan’s roughly billion oil refinery and petrochemical project.
