Saudi Arabia Committed To Rescue Pakistan's Economy, Says Ex-envoy Ali Asseri

ISLAMABAD, Dec 7 (UrduPoint / Pakistan Point News - 7th Dec, 2022 ) :Saudi Arabia is committed to avert Pakistan's current economic crisis worsened by the recent flood disaster, as this is crucial for achieving political stability and safeguarding national security, said Kingdom's former ambassador to Pakistan, Dr Ali Awadh Asseri.

"This is clear from Crown Prince Mohammed bin Salman's personal resolve for not only addressing Pakistan's immediate financial needs but also guaranteeing long-term investments in the energy sector," he said while speaking on Wednesday at the Islamabad Conclave organised by the Institute of Strategic Studies, Islamabad.

"I have no doubt that Prime Minister Shahbaz Sharif has the ability, courage and will to take Pakistan forward. And, he can count on the Saudi nation and its leadership for whatever support is needed for economic and political stability," said Dr Asseri, who is currently a board member at RASANAH, the premier Saudi think-tank on Iranian affairs.

The second round of Islamabad Conclave, titled "75 Years of Independence: Achieving Comprehensive National Security," includes several prominent speakers from home and abroad in five working groups. Dr Asseri spoke on "Enhancing Pakistan's Economic Outreach to Saudi Arabia and the GCC.

" "The Saudi Vision 2030 offers enormous opportunities for Pakistan's trade and investment relationship with the Kingdom and employing its skilled manpower in mega development projects," said the former ambassador while urging the government to take remedial measures such as promoting vocational training and commercial linkages.

He also said that a major transformation was underway in Pak-Saudi economic relations, whereby the Kingdom is interested in long-term investment in Pakistan's development sector while continuing to shore up its foreign reserves.

He said, Saudi leadership was committed to invest $20 billion Dollars in refinery, petrochemical complex, mining and renewable energy projects in Pakistan. But there is also tremendous scope for Saudi public and private investment in other sectors such as textiles, sports, leather goods and surgical equipment," Dr Asseri added.

"We have a unique, profound and durable relationship in the political, security, economic and cultural spheres of cooperation. There is no doubt that this brotherly bond will reach new heights under our dynamic and visionary leadership," he added.