ISLAMABAD – Saudi Crown Prince and Prime Minister Mohammed bin Salman will reach Pakistan on an official visit on November 21.
The Saudi Embassy in Islamabad confirmed it, days after Finance Minister Ishaq Dar revealed that the Saudi crown prince will be in Pakistan within the ongoing month.
It is expected that the South Asian country will get an additional bailout package worth $4.2 billion from the kingdom during this visit.
It will be the second official trip of the Saudi prime minister to Pakistan as he, last, visited Pakistan in 2019 when the two Islamic nations inked $21 billion investment agreements, including a $10 billion Aramco oil refinery and a $1 billion petrochemical complex.
Last month, Prime Minister Shehbaz Sharif visited Riyadh where he attended the Saudi Future Investment Initiative Summit and held a meeting with the Saudi crown prince. After wrapping his visit, the Pakistani PM hoped a breakthrough in the financing of the oil refinery project during the upcoming highly anticipated visit of Mohammad bin Salman.
Earlier this month, the finance minister confirmed that the Saudi Arabia had agreed to roll over existing deposits of $3 billion and their oil facility of $1.2 billion on deferred payment ($100 million on monthly basis) would continue till June 2023.
Saudi Arabia has also agreed to revive the around $10 billion oil refinery and petrochemical project in Pakistan, he said.
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