Saudi investments in Pakistan by 25 billion dollars

Prime minister of the caretaker government of Pakistan Anwar ul Haq Kakar said on Monday that Saudi Arabia will invest about 25 billion dollars in Pakistan over the next five years in various sectors, adding that his government will revive the currently stalled privatization process.

The South Asian country has embarked on a difficult path to economic recovery under a caretaker government after successfully avoiding a sovereign default thanks to a three-billion-dollar loan approved by the International Monetary Fund in July.Kakar told reporters from his official residence that Saudi investments will focus on the mining, agriculture and information technology sectors, part of a campaign to increase foreign direct investment in Pakistan.
The Saudi government has not yet responded to a request from Reuters for comment on Kakar’s remarks. If confirmed, these investments will be the largest ever made by Saudi Arabia in Pakistan.
Anwar-ul-Haq Kakar was appointed head of the caretaker government with the approval of the country’s President Sadiq Allawi on August 12, after a recommendation from former prime minister Shahbaz Sharif to dissolve parliament and call general elections. 
A caretaker government is due to oversee the holding of elections within 90 days.Analysts said earlier that” any delay in the holding of elections could fuel public anger and increase uncertainty ” in the nuclear-armed state.