Saudi Arabia has expressed its keen desire to invest in Pakistan’s mining sector, which provides vast opportunities of investment. The desire was expressed by a Saudi Arabian delegation, led by Deputy Minister for Mining, Industries and Minerals Khaled bin Saleh Al-Mudaifer, which called on Prime Minister Shehbaz Sharif in Islamabad, PM Office statement said Wednesday. The Saudi minister appreciated the pro-investors measures of the present government, particularly the establishment of Special Investment Facilitation Council.

 Speaking on the occasion, Prime Minister Shehbaz Sharif said that Pakistan provides immense investment opportunities to investors, particularly in the mining sector. He assured the delegation that not only the upcoming interim government but also the next elected government would keep on facilitating the investors. The meeting came after Pakistan Tuesday organised first summit on minerals in Islamabad. The event was attended by foreign investors, diplomats, and other notable figures. The summit was organized by the Special Investment Facilitation Council which was established in June to attract foreign investment.

Addressing the ceremony, the prime minister said Pakistan should learn from its “bitter experiences” of the past and follow the example of Middle Eastern states who had built and strengthened their economies by tapping their mineral wealth. Countries like Saudi Arabia and the UAE had set an example for other countries, including Pakistan, by building on oil and gas resources, Sharif said. Meanwhile, in a follow up tweet after the ‘Pakistan Minerals Summit’, in Islamabad, Prime Minister Shehbaz Sharif said the importance of mineral resources in national economies has increased manifold due to rapid developments in renewable energy technologies. The premier said the summit highlighted the need for setting new target areas, improving exploration strategies and devising new methodologies for extracting minerals.

Credit: Independent News Pakistan (INP)