ISLAMABAD: Pakistan and Saudi Arabia will sign eight memorandums of knowledge (MoUs) throughout the go to of Saudi Crown Prince Muhammad bin Salman, turning their “exquisite bilateral family members right into a sturdy monetary partnership”, foreign Minister Shah Mehmood Qureshi stated on Wednesday.

At a press conference together with statistics Minister Fawad Chaudhry, Adviser to prime Minister on commerce and investment Razak Dawood and Board of investment (BoI) Chairman Haroon Sharif, Qureshi made clean that there have been no strings connected to the Saudi investment in Pakistan.

in keeping with a foreign office assertion, Crown Prince Muhammad bin Salman will undertake a two-day visit to Pakistan on February sixteen and 17.

. Qureshi said that a excessive-powered Saudi delegation, inclusive of key ministers and over 20 businessmen from main agencies, would preserve conferences with their opposite numbers in Pakistan and speak ability of bigger funding projects.

“With the visit of Prince Muhammad bin Salman, Pakistan and Saudi Arabia are going to witness an remarkable stage of closeness based on stable financial integration,” Qureshi said. He added that the MoUs relating to diverse sectors, consisting of investment, finance, power, renewable power, internal protection, media, lifestyle and sports, could be signed.

The overseas minister rejected the belief that Pakistan become being driven into the battle in Yemen. “I say it loud and clean that there is no circumstance connected with Saudi investment,” he said while replying to a query.

persevering with, he said that Commander of the Islamic Coalition trendy Raheel Sharif all through a meeting with him [Qureshi] the alternative day had made it clear that the force became now not specific to any u . S . A . Or institution.

Responding to some other question, foreign Minister Qureshi stated that Pakistan enjoyed brotherly members of the family with Iran. The visit of Crown prime Muhammad bin Salman could no longer disillusioned Iran. At the contrary, he delivered, Iran would he happy.

whilst requested if the Saudi investment might be part of the China-Pakistan financial corridor (CPEC), he stated that Pakistan and China had agreed on putting in 3 unique monetary zones, which might be joined with the aid of other international locations, consisting of Saudi Arabia and the United Arab Emirates.

He stated a Pak-Saudi Coordination Council could be set up following the go to, where prime Minister Imran Khan could individually lead the monitoring of the implementation of MoUs. He stated that Saudi Arabia had recently transferred $3 billion to Pakistan and additionally promised oil on deferred price.

Qureshi said that the government wanted to rid the country of begging bowl. “The investment which the government has brought to Pakistan inside the past seven months is more than the investment preceding governments introduced to the us of a in past 10 years,” he delivered.

speaking at the occasion, records Minister Fawad Chaudhry termed Saudi Arabia a strong and relied on pal of Pakistan. “Saudi Arabia has always helped Pakistan in checking out times,” he said. “that is for the first time after former prime minister Zulfikar Ali Bhutto that Pakistan has attained substantial fulfillment on the diplomatic the front.”

high Minister’s Adviser Razak Dawood said that Saudi Arabia had plans for $7 billion investment within the electricity area for 2 years, except $2 billion in renewable energy, which include solar and wind projects. At the Saudi interest to discover Pakistan’s oil refinery zone, he said the feasibility have a look at by their professionals on petrochemical complicated and hydro cracking should absorb to 12 to 15 months.

He said Pakistan become in excessive want of subtle oil merchandise, for which Saudi Arabia had shown willingness to satisfy the desires of local oil market with an investment of $2 billion for two years further to funding in Pakistan’s mining zone.

BoI Chairman Haroon Sharif stated that Saudi Arabia had comprehensive long-term stakes in Pakistan. Following the visit of the Saudi crown prince, the BoI might continue to be in consistent touch with their Saudi opposite numbers on technical level, he said.

He mentioned that Saudi Arabia changed into making plans to broaden new cities and the situation would encourage Pakistani personnel to be accommodated in numerous jobs.

Qureshi, while asked if the Kashmir trouble would be taken up with the Saudi crown prince in view of his visit to India subsequent week, said that Saudi Arabia became a member of the contact organization on Kashmir and thru its representative had made clear statements supporting the stance of Pakistan.Olve the problem of sports board’s land rent.