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Saudi Arabia’s investments and deposits in Pakistan to reach $15 bn

ISLAMABAD: Saudi Arabia’s Crown Prince Muhammad Bin Salman (MBS) has ordered the Saudi Development Fund (SDF) to increase Saudi investments and deposits in Pakistan to $15 billion.

According to details, the Saudi Fund for Development (SFD) has been authorized to conduct a study on increasing the Kingdom’s deposit in Pakistan’s central bank to $5 billion from $3 billion earlier, the Saudi Press Agency reported on Tuesday. It will also assess the plan to increase investments in Pakistan to $10 billion.

The Saudi news agency further said that the announcement comes after talks between Prime Minister Shahbaz Sharif and MBS.