Saudi crown prince agrees to invest $20B in Pakistan

Posted February 18, 2019

Iran has blamed a series of recent attacks in Sistan and Baluchestan on Pakistan-based militants allegedly supported by Saudi Arabia, the U.S. and Israel.

On Sunday, the British newspaper, the Sun, said the crown prince was in a £3.8-billion ($4.9-billion) takeover bid for one of football's most popular clubs. Pakistani police commandos and paramilitary soldiers stand guard at a highway to ensure security ahead of Saudi Arabia's crown prince visit to Pakistan, in Islamabad on Sunday.

Prime Minister Imran Khan thanked longtime ally Saudi Arabia for its support, adding: "Pakistan and Saudi Arabia are now taking this relationship to a level which (they) never had before".

United already have business interests with Saudi Arabia, with Saudi Telecom the club's official integrated telecommunications partner.

The Saudis, after initially denying they knew anything of Khashoggi's disappearance, finally acknowledged that a team killed him inside the consulate, but described it as a rogue operation that did not involve the crown prince.

It was followed by the meeting of the Saudi Pakistani Coordination Council.

The Crown Prince said the $20 billion figure represents only the start of an economic tie-up that would bring the historic allies even closer.

The two nations' relationship has in the past centered on oil-rich Saudi Arabia backing Pakistan's economy during hard periods, and in return Pakistan's powerful army lending support to Saudi Arabia and its royal family. - Photo courtesy Arab News Pakistan The Saudi crown prince and Prime Minister Imran Khan arrived at the President House in a traditional chariot.

Shortly after his arrival, crown prince Mohammed, accompanied by a high-powered delegation including leading businessmen and Cabinet ministers, attended a signing ceremony for the investment agreements worth $20 billion.

F-16 and JF-17 Thunder jets of Pakistan Airforce took the plane of visiting dignitary into protective custody when it entered into Pakistan's airspace and escorted it to its destination.

And the Crown Prince has finally spoken out to address the rumours. "We believe Pakistan is going to be a very important country in the coming future and we want to be sure we are a part of that".

The prince is now on a trip to China and South Asia, and made his first stop at Pakistan yesterday.

During his two-day stay in Pakistan, the crown prince will hold formal talks with Khan to find ways to enhance bilateral cooperation.

The Prime Minister praised the leadership of Saudi King Salman bin Abdulaziz Al-Saud, and the efforts of his government, specially its services to the millions of pilgrims who visit the Two Holy Mosques every year.