NewsOctober 23 , 2018
Imran arrives in Saudi Arabia
ISLAMABAD: Prime Minister Imran Khan on Monday arrived in Saudi Arabia to attend an investment conference, saying his country was going through the worst debt crisis of its history.
“The reason I feel I have to avail myself of this opportunity [to speak to the Saudi leadership] is because in a country of 210 million people right now we have the worst debt crisis in our history," he told British news website Middle East Eye, before departing for the kingdom.
“Unless we get loans from friendly countries or the IMF [the International Monetary Fund] we actually won’t have in another two or three months enough foreign exchange to service our debts or to pay for our imports. So we’re desperate at the moment.”
He said that he could not skip the Future Investment Initiative (FII) conference because "we're desperate" for possible Saudi loans to shore up Pakistan’s economy. It is Khan’s second visit to Saudi Arabia in just over a month.
Finance Minister Asad Umar and Commerce Minister Abdul Razak Dawood are accompanying Khan, a statement from Khan’s office said on Monday, adding it “will give a chance to connect with those people who are interested in investing in Pakistan.”
The conference dubbed as "Davos in the desert" will host leading businesspersons, investors, corporate giants, representatives of hi-tech industry and major media outlets at one platform, the Foreign Office of Pakistan said in a press statement earlier.
PM Imran's participation on the first day of the conference is aimed at projecting Pakistan's economic and investment potential as well as its vision for the next five years. The conference provides an opportunity to interact with important business leaders who are interested in investing in Pakistan, the statement said.
The premier will also call on King Salman and meet Crown Prince Mohammad Bin Salman. Matters of mutual interest will be discussed. The FII conference is now an annual feature in Saudi Arabia. The first FII was held last year, with participation of 3,800 people from 90 countries. This year's conference is also likely to attract participation from a large number of leading figures.
PM Imran’s participation in the conference "signifies our solidarity with the Kingdom in its efforts to become an emerging hub of international business and investment", the Foreign Office stated further. The prime minister last toured Saudi Arabia on September 18.
Courtesy www.thenews.com.pk
Back to Pakistanlink Home