Saudi Arabia Signs Multi-Billion Dollar Deals In Pakistan

Upon entry into Pakistan's airspace Mohammad bin Salman airplane was given a warm welcome

But his trip, which Islamabad is treating as the biggest state visit in years, risks being overshadowed by escalating tensions between India and Pakistan following a militant attack on Indian security forces in the disputed Kashmir region.

The unprecedented Saudi investment is being viewed by Prime Minister Khan's nascent government as a major boost for Pakistan, which is facing an economic crisis and balance of payments pressure. A statement accompanying the figures read, "The current inflow of investments from KSA, UAE, Qatar, Malaysia and other countries would result in exponential growth of Foreign Direct Investment (FDI) in the country".

The two countries chose to establish a Joint Supreme Coordination Council co-chaired by the Saudi Crown Prince and Pakistan's Prime Minister for enhancing and institutionalizing the bilateral relations in various fields.

Fighter jets escorted the prince's plane across Pakistani airspace and television stations devoted hours of live coverage to the royal motorcade and ceremony, where officials signed memoranda of understanding in energy, minerals and agriculture valued at about $20 billion.

"We have been a brotherly country, a friendly country to Pakistan".

Turkey said Friday it has not yet revealed all the information it has uncovered in the extraordinary case, which launched a global wave of revulsion and profoundly tarnished the crown prince's reputation.

Imran Khan, prime minister of Pakistan, has been seeking help to cut the size of a likely International Monetary Fund bailout package, which comes with very strict conditions. "For Pakistanis, this is a great day", the Pakistani premier said while addressing a dinner reception held in honour of the visiting Saudi guests at the PM House.

Saudi Arabia and Pakistan signed a raft of investment deals on Sunday worth as much as $20bn for the cash-strapped South Asian country.

Saudi Crown Prince Mohammad bin Salman arrived at Nur Khan Airbase in Islamabad this evening. Both sides strongly condemned the atrocities and human rights violations committed against Muslims around the world. Islamabad denies playing a role and has called for an investigation.

The Joint Commission on Commerce and Trade, which is now part of the Saudi-Pakistan Supreme Coordination Council, shall facilitate bilateral trade in specific sectors and products. India says it has incontrovertible evidence of Pakistan's involvement, a charge Islamabad dismisses.

"Saudi Arabia and India share age-old ties of friendship that are deepening with each passing day".

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