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Saudi Arabian delegation explores investment prospects in Pakistan visit

07:30 PM | 15 Apr, 2024
Faisal Bin Farhan

A high-level delegation from Saudi Arabia, led by Foreign Minister Faisal bin Farhan bin Abdullah, has arrived in Pakistan, signaling a keen interest in exploring investment opportunities and strengthening bilateral ties.

Welcoming the Saudi Foreign Minister's arrival, Pakistani Foreign Minister Ishaq Dar extended warm greetings. The visit comes merely a week after Prime Minister Imran Khan's trip to Saudi Arabia, underscoring the commitment of both countries to enhance cooperation and economic partnerships.

The Saudi delegation comprises key figures from various sectors, including the Minister of Environment, Water, and Agriculture Engineer Abdulrahman Abdulmohsen Al-Fadhli, and Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef.

The visit aims to facilitate discussions on investment prospects, particularly in agriculture, industry, energy, mining, and IT sectors. Both sides will engage in consultations regarding the next phases of investment and implementation strategies.

Saudi Arabia has shown significant interest in investing in Pakistan, particularly after the recent meeting between Saudi Crown Prince Mohammed bin Salman and Prime Minister Shehbaz Sharif. Following their discussions, a joint statement affirmed Saudi Arabia's commitment to initiate a $5 billion investment package in Pakistan, marking the first phase of a substantial economic collaboration.

As the Saudi delegation explores investment opportunities and discusses future projects, it is expected to pave the way for smoother collaboration and the introduction of new avenues for bilateral cooperation between the two nations.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - Pak Rupee to US Dollar, Euro, Dirham, Riyal 22 May 2024

 Pakistani currency rates against US Dollar and other currencies on May 22, 2024 (Wednesday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.15 for buying and 280.05 for selling.

Euro moved down to 297 for buying and 300 for selling while British Pound rate is 349 for buying, and 352.5 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 22 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.15 277.15
Euro EUR 297 300
UK Pound Sterling GBP 349 352.5
U.A.E Dirham AED 75.2 75.95
Saudi Riyal SAR 73.45 74.2
Australian Dollar AUD 183 184.8
Bahrain Dinar BHD 740.34 748.34
Canadian Dollar CAD 203 205
China Yuan CNY 38.51 38.91
Danish Krone DKK 40.52 40.92
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 903.3 912.3
Malaysian Ringgit MYR 59.34 59.94
New Zealand Dollar NZD 170.11 172.11
Norwegians Krone NOK 25.92 26.22
Omani Riyal OMR 723.13 731.13
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.98 26.28
Swiss Franc CHF 305.97 308.47
Thai Bhat THB 7.67 7.82

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