Saudi Crown Prince Mohammed bin Salman is soon expected to arrive in Pakistan for a brief visit and is likely to announce investment projects worth about USD 15 billion in the cash-strapped country, a media report said Tuesday.
The dates of the Kingdom's de-facto ruler are currently being discussed and considered for finalisation, Geo News reported, quoting diplomatic sources.
Pakistan, reeling under severe financial crisis, has reached out to some "friendly countries" for economic assistance including Saudi Arabia, China and the UAE since Prime Minister Khan assumed office in August.
The package included USD 3 billion balance of payments support and USD 3 billion in deferred payments on oil import.
Pakistan on Sunday said the UAE has "almost finalised" investment plan for the setting up of an oil refinery in the country as the Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan met Prime Minister Khan.
Pakistan is negotiating a USD 8 billion bailout package from the International Monetary Fund (IMF) to overcome a severe balance-of-payments crisis that threatens to cripple the country's economy.
Pakistan apprehends the IMF will come with stringent conditions of austerity besides scrutiny of USD 60 billion China-Pakistan Economic Corridor projects whose terms till now remained confidential.
The Trump administration is making all efforts to ensure that any IMF loan to Pakistan is not used to repay its Chinese debt.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)