SIFC requests project details from ministries as Riyadh focuses on strategic investments.
Saudi Arabia has expressed renewed interest in investing across multiple sectors in Pakistan, with a particular focus on oil, gas, and mining, The News reported, citing a document from the Special Investment Facilitation Council (SIFC).
This interest follows the recent strengthening of bilateral ties between the two countries, especially with the signing of a strategic defense pact.
According to the report, the SIFC has instructed various ministries and government departments to submit project details that could be shortlisted for Saudi investment.
Sources in the energy sector revealed that Saudi interest spans several sectors, but the main areas of focus include the establishment and upgrading of refineries, the construction of oil and gas pipelines, and mining ventures. These projects are expected to attract significant investment.
While Pakistan has long sought Saudi investment, previous efforts have not been successful. However, with the recent strategic defense agreement, officials are optimistic that this time, the goal may be achieved.
In its directive, the SIFC has asked ministries and departments to submit technical and financially viable project proposals, along with clear development timelines and investment modes. This approach is aimed at ensuring that Saudi investment flows smoothly and efficiently into Pakistan’s key sectors.