Investment would come in the mining, agriculture and information technology sectors.
Caretaker prime minister Anwaar-ul-Haq Kakar also said his government would push to revive a stalled privatisation process.
Kakar, speaking to journalists at his official residence, said Saudi Arabia’s investment would come in the mining, agriculture and information technology sectors, and was a part of a push to increase foreign direct investment in Pakistan. A longtime ally of Riyadh, Pakistan is dealing with a balance of payments crisis and requires billions of dollars in foreign exchange to finance its trade deficit and repay its international debts in the current financial year.
Barrick considers the Reko Diq mine one of the world’s largest underdeveloped copper-gold areas and it owns a 50% stake, with the remaining 50% owned by the governments of Pakistan and the province of Balochistan.
Malaysia Latest News, Malaysia Headlines
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