KSA to invest $500m in Pakistan’s energy sector

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Middle East Desk Report

MULTAN: Foreign Minister Makhdoom Shah Mahmood Qureshi Wednesday said that Kingdom of Saudi Arabia (KSA) has decided to invest US$ 500 million more to strengthen energy sector in Pakistan. The Saudi Arabian assistance would help overcome the imbalance in energy mix, he said adding that it was meant for alternate and renewable energy including solar, wind and hydel power.
He was talking to media after offering Fathea on the death of international fame scholar Qari Muhammad Abdul Ghaffar Naqshbandi during visit to his residence.
The US$500 million from Saudi Arabia would improve Pakistan’s energy mix balance, FM said. He said that Saudi funding would also focus infrastructure development and investment on water resources projects.Mr Qureshi said that the three-day KSA visit was made on the invitation of crown prince Mohammad Bin Salman and it helped defuse the designs of detractors.