Shehbaz expected to meet MBS as Saudi Arabia invites him for Umrah
ISLAMABAD – MNP – Saudi Arabia has invited Prime Minister Shehbaz Sharif for performing Umrah, sources say, as he is expected to meet Crown Prince Mohammed bin Salman during his stay in the kingdom. The invitation comes at a time when Pakistan is desperate for foreign investment to revive the flagging economy which has been hit hard by rupee devaluation, persistent inflation and record-high interest rates.
According to the sources, the prime minister will leave for Saudi Arabia after his meeting with the Saudi crown prince – who is the de facto ruler of oil-rich Gulf State – is finalised. Discussions are already underway to give a formal shape to different projects for Pakistan and the two leaders will deliberate upon several of these ventures.
The sources say it is expected that Saudi Arabia will invest $1 billion in the Reko Diq project in the coming weeks, as a Barrick Gold delegation visited Pakistan recently and held meetings with Shehbaz and top officials.
