The Pakistan Industrial and Traders Associations Front (PIAF) said 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. PIAF Chairman Mian Nauman Kabir said that announcement of $20 billion investment, signing of seven MoUs, investment of $4 billion in power sector and many more would lead to bright and prosperous future of the country that would also prove to be a new push to the FDI.
The cabinet's approval to the MoUs with Saudi Arabia regarding establishment of a state-of-the-art oil refinery at Gwadar would go a long way in catering to the domestic needs. 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, a hub of economic and commercial activities at a fast pace, he added.
Welcoming the visit of Saudi Crown Prince to Pakistan, the PIAF chief said that Saudi crown prince is a great leader of Islamic world and his economic reforms inside Saudi Arabia brought positive impact.