Pakistan-Saudi relations will have positive effects on the economy: Waliullah Khan

Karachi (Staff Reporter) Pakistan-Saudi relations will have a positive impact on the economy, President SME Foundation and Convener FPCCI Sindh Regional Standing Committee for SMEs Promotion Waliullah Khan said on the arrival of the 130-member Saudi delegation to Pakistan. Welcoming him, he said that there are vast opportunities for investment in Pakistan. With the signing of the Kari Agreement, the Pakistani economy will be stable, while Pakistan will be able to move towards getting freedom from the burden of foreign debts. He said that special attention will be given to the development of other important sectors including energy, IT, mining, minerals, agriculture, business, tourism, manpower in Pakistan through foreign investment, which will start the era of development and prosperity in the country. Hoga Waliullah Khan said that the arrival of the Saudi high trade delegation to Pakistan will prove to be an important milestone and textile and construction companies will also grow rapidly. Overseas Pakistanis have sent more than the $7 billion bailout package of the International Monetary Fund (IMF) to Pakistan in 3 months, which has increased the country’s reserves rapidly. He said that in September 2024, the IMF F had approved a bailout package of 7 billion dollars for Pakistan, after which on September 27, Pakistan received 1.2 billion 69 million dollars in the first installment, while Pakistan received loans in the fiscal year 2025. But 25 billion dollars are required to pay the interest.