Pakistan has presented a comprehensive investment package valued at more than $28 billion to a high-level Saudi business delegation, signaling a strategic move to bring large-scale foreign capital into the country’s core economic sectors. The pitch, shared during a meeting of the Saudi–Pakistan Joint Business Council in Islamabad, reflects the government’s drive to stabilize its fragile economy and expand trade ties with Saudi Arabia through concrete business partnerships and investment agreements.
The delegation of 16 members, led by Prince Mansour bin Mohammed Al Saud, arrived in Islamabad on Tuesday and participated in a series of meetings with key government officials and private-sector leaders the following day. During the discussions, officials from the commerce ministry and the Special Investment Facilitation Council (SIFC) outlined an “opportunities pipeline” consisting of around 40 projects across priority sectors including energy, mining, information technology, agriculture, tourism, connectivity, and privatization.
According to SIFC Secretary Jamil Ahmed Qureshi, the Saudi companies have begun assessing the portfolio of projects to identify which ventures to pursue. He noted that the scale and diversity of opportunities were designed to align with Saudi investment strategies while unlocking Pakistan’s underutilized industrial potential.
Among the headline proposals were major energy and infrastructure projects, including a $10 billion greenfield refinery, a $2.1 billion brownfield refinery upgrade, and a $5 billion naphtha cracker complex aimed at boosting local petrochemical production. Additionally, officials pitched a $1.8 billion integrated steel mill and the $3.6 billion Diamer Basha Dam hydroelectric project.
Other infrastructure and industrial development plans included $2.3 billion in motorway construction, $500 million each for API production and injectable drug manufacturing, a $500 million LPG storage terminal, and a $250 million clean petroleum terminal. Proposals in agriculture and food processing highlighted investments in shrimp farming, grain silos, rice milling, livestock production, and processing facilities to increase value-added exports.
Tourism and heritage also featured in the investment plan, with a $50 million restoration project for the historic Chamber House, $200 million in vaccine manufacturing, and $120 million in mixed-use real estate development. Qureshi emphasized that both government and private sector projects were included to give investors a balanced view of Pakistan’s economic landscape.
Saudi Arabia remains a key partner for Pakistan, not only as the largest source of worker remittances—amounting to over $9 billion annually—but also as a vital contributor to maintaining the country’s balance of payments. Riyadh has historically supported Islamabad through deferred oil payment facilities and rolling over deposits of about $5 billion with the State Bank of Pakistan.
Both sides are expected to hold a follow-up forum in Riyadh later this month to finalize agreements and memorandums of understanding at both the government-to-government and business-to-business levels. According to Jam Kamal Khan, Pakistan’s commerce minister, this round of talks marks a shift toward more structured and result-oriented investment partnerships.
He stated that the engagement with Saudi investors is not just about signing preliminary MoUs but about establishing concrete frameworks for long-term cooperation. Khan added that the leadership of both countries is committed to elevating economic collaboration to a higher level, reflecting a shared interest in transforming bilateral relations through sustainable trade and investment.
Last year, 34 MoUs valued at $2.8 billion were signed between Pakistani and Saudi companies, with 16 already converted into formal agreements. This year’s expanded investment pipeline signals Islamabad’s growing emphasis on foreign partnerships as it works to address fiscal deficits and build economic resilience.
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