KARACHI:The Pakistan Industrial and Traders Associations Front (PIAF) MianNaumanKabir said Monday that the visit of Saudi Crown Prince Muhammad Bin Salman (MBS) to Pakistan is going to herald a new era of prosperity and economic stability in Pakistan.
The $20 billion investment agreements and many more between the two countires will lead to bright and prosperous future of Pakistan and which will proved to be a new push in the FDI sector, said Kabir.
He said that the cabinet approval for signing of a Memorandum of Understanding with KSA on establishment of a state-of-the-art oil refinery at Gwadar would go a long way in realizing the proposal that is there for decades to have an oil refinery in Balochistan.
He said: “Massive investment of $8 billion on the refinery would not only play a crucial role in the overall economic development of the country but also help realize the objective of making Gwadar hub of economic and commercial activities at a fast pace.”
“The day was not far away, when Pakistan would be ranked among the developed nations,” Kabir said.
Kabir welcomed the state visit of Saudi Crown Prince to Pakistan stating that this visit will prove a historic milestone to strengthen Pak-Saudi Arabia relations in the longer run. He stated that Pakistan and Saudi Arabia are knotted in eternal relationship of brotherhood and no one could make differences between Pakistan and Saudi Arabia. Saudi Arabia is committed to make historic investment in Pakistan to uplift Pakistan’s economy, which is demonstration of Saudi’s trust and confidence on people of Pakistan.
The chairman said Saudi Crown Prince is a great leader of Islamic world and his economic reforms inside Saudi Arabia brought positive impact. He said the good sign is that Pakistan under dynamic leadership of Prime Minister Imran Khan is also introducing economic structural reforms to revive the economy of the country.