Business community delighted to have Saudi investors in Pakistan. Pakistan might attract billions of dollars in investment from KSA. Wheat scandal, protests at this juncture disappointing.

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(May-06-2024)

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Monday that a high-level delegation of investors led by the Deputy Minister of Investment of Saudi Arabia has arrived for negotiations regarding investment in Pakistan which is a positive development.

The 50-member delegation from more than 30 companies has arrived on the instructions of Saudi Crown Prince Mohammed bin Salman. He said it would explore agriculture, mining, human resources, energy, chemicals and maritime opportunities.

Mian Zahid Hussain said that the visit of the Saudi delegation will promote trade relations and investment and Pakistani companies can connect with the companies of the friendly country.

Talking to the business community, the veteran business leader said that leading companies from both countries will seek investment opportunities, which are expected to increase investment, exports and employment.

He said that agreements and memorandums of understanding will also be signed in this context.

After Shahbaz Sharif became the prime minister, Saudi Arabia’s relations with China and other countries are improving and their focus is on increasing trade and investment.

Prime Minister Shehbaz Sharif has visited Saudi Arabia twice, while the Saudi Foreign Minister has also visited Pakistan, and now Pakistan is looking forward to the visit of the Saudi Crown Prince.

Mian Zahid Hussain said it is sad that the wheat scandal has come to light when there is a possibility of massive investment from Saudi Arabia. This is sending a negative message to the whole world.

The economic system of the country is poor and dominated by the mafia. For this reason, the country is always under some scandal that exploits the people, increases poverty, and gives investors a negative message.

It is commonly perceived that nothing is done on merit, but there is a collusion everywhere. In such circumstances, foreign investment in the country’s agricultural sector will become problematic.

Mian Zahid Hussain further said that on the one hand, Saudi investors will be evaluating the Pakistani market. On the other hand, farmers will be running a nationwide movement because every time, the mafia succeeds in defeating the farmers.

He said that the central and provincial governments should try to solve this issue of farmers as soon as possible.

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