PM should persuade Saudi crown prince to make more investments: KATI chief

KARACHI: Acting President of Korangi Association of Trade and Industry (KATI) Farrukh Qandhari said that the Prime Minister Shehbaz Sharif should discuss more investment with Saudi crown prince besides getting the oil facility of low cost and deferred payment for petrol from Saudi Arabia.

Welcoming the visit of Prime Minister Shehbaz Sharif to Saudi Arabia, he

said that at present the prices of petroleum products are at the highest level in the world market due to which petroleum products in Pakistan at the highest level in the history of the country, which has increased the hardships of the people immensely.

He further said that Pakistan could get out of this difficult time if the Saudi government cooperated due to the depletion of Pakistan’s foreign exchange reserves.

He termed the visit of the PM as very important in this regard.

Farrukh Qandhari said that there are more than two million Pakistanis residing in Saudi Arabia who send the most remittances, however, the PM is expected to meet with Saudi investors for investment, including the Pakistani community, to attract new investments.

Acting president further said that Saudi Arabia had helped Pakistan on several occasions in the past and facilitated the late payment of oil which had reduced the shortage of petroleum products in the country.

He said that it was important for Pakistan to immediately seek the cooperation of friendly countries to help the economy overcome its difficulties.

Copyright Business Recorder, 2022