{"id":85268,"date":"2024-04-17T00:00:00","date_gmt":"2024-04-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/17\/saudi-eyeing-significant-investments-in-pakistan-says-bin-farhan\/"},"modified":"2024-04-17T00:00:00","modified_gmt":"2024-04-17T00:00:00","slug":"saudi-eyeing-significant-investments-in-pakistan-says-bin-farhan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/04\/17\/saudi-eyeing-significant-investments-in-pakistan-says-bin-farhan\/","title":{"rendered":"Saudi eyeing significant investments in Pakistan, says bin Farhan"},"content":{"rendered":"

Saudi is planning<\/strong> significant investments in Pakistan<\/strong>, Foreign Minister Prince Faisal bin Farhan said during a joint press conference with Pakistani counterpart Ishaq Dar (watch, runtime: 26:52<\/a>). He said his delegation was briefed on potential investments in various sectors in Pakistan, stressing \u201cvery, very significant confidence\u201d to move forward with the projects. \u201cThere is a lot of untapped potential [in Pakistan] that is clear to everyone and just needs to be tapped and here working together we will do what we can with our colleagues in the government of Pakistan to make that happen,\u201d he said. He did not provide further details, but Dar said some of the areas of interest included agriculture, IT, mining, energy and other sectors.<\/p>\n

Gaza crisis + recent regional escalations:<\/strong> The FM described the international community\u2019s efforts towards the ceasefire in Gaza as \u201cwholly insufficient \u2026 We are now well beyond 33k civilians killed. We are now actively discussing the potential of famine in Gaza\u2026This is an unacceptable situation, it is a complete failure of the international system\u2026,\u201d he said. Bin Farhan said that \u201cwe do not need more conflict in the region\u201d in an indirect mention of rising tensions between Iran and Israel. \u201cWe are already in an unstable region. The humanitarian catastrophe in Gaza is already inflaming the region. We do not need more conflict in our region, we do not need more confrontation in our region. So it is our position that de-escalation must be everybody\u2019s priority,\u201d he said.<\/p>\n

Background: <\/strong>The two-day visit by the FM comes nearly a week after Pakistan\u2019s prime minister discussed<\/a> a USD 5 bn investment package during a meeting in Makkah with Crown Prince Mohammed bin Salman. Saudi has been among key backers of crisis-hit Pakistan, which is now struggling with depleted reserves. The Kingdom has extended the term<\/a> of a USD 3 bn in deposit at the State Bank of Pakistan for an additional year, maturing in December this year. Pakistan also received<\/a> last year USD 2 bn in financial assistance from the Kingdom to shore up finances.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Kingdom has been among key backers of crisis-hit Pakistan, which is now struggling with depleted reserves<\/p>\n","protected":false},"author":1,"featured_media":85269,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2568],"tags":[587,10,60,1809,1611,678],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diplomacy","tag-diplomacy","tag-enterpriseam-ksa","tag-faisal-bin-farhan","tag-ishaq-dar","tag-israel-palestine-conflict","tag-pakistan","wpautop","entry"],"acf":{"mongo_id":"d2cc076a-3ccd-4038-b2dc-874b485fd02a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1094.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi plans significant investments to help shore up crisis-hit Pakistan\u2019s finances, says bin Farhan","related_issue":[85252],"teaser":"The Kingdom has been among key backers of crisis-hit Pakistan, which is now struggling with depleted reserves","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.3dc9cf98-a32a-4b5f-b9c9-01b83e552e72.mp3"},"yoast_head":"\nSaudi eyeing significant investments in Pakistan, says bin Farhan - 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