Federal Minister for Finance, Muhammad Aurangzeb, convened with Sultan Abdulrahman Al-Marshad, CEO of Saudi Fund for Development (SFD), in Washington to explore investable projects. Discussions included plans for a dam and a major national highway. This meeting coincides with the Pakistani Finance Minister’s presence in Washington for the IMF and World Bank spring meetings, where negotiations for a new multi-billion-dollar bailout deal are underway.
Prince Faisal bin Farhan Al Saud, the Saudi Foreign Minister, recently visited Islamabad, affirming Riyadh’s commitment to substantial investments in Pakistan. This commitment follows a meeting in Makkah between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman, during which the Kingdom pledged to expedite $5 billion in investments.
The finance ministry highlighted the recent exchange of visits between Pakistan and Saudi Arabia, emphasizing progress on ongoing projects. Specific discussions revolved around funding for the Diamer Bhasha dam and the N-25 highway from Karachi to Chaman. Pakistan assured its intention to present bankable and investable projects to Saudi investors.
The Diamer-Bhasha Dam, situated between Kohistan district in Khyber Pakhtunkhwa and Diamer district in Gilgit Baltistan, is currently in its preliminary construction phases, representing a significant infrastructure development project for Pakistan.
