Saudi Arabia has shown interest in investing in Pakistan’s M-10 Motorway project, as Federal Minister for Communications Abdul Aleem Khan held a high-level meeting with Saudi Minister for Transport and Logistics Saleh Bin Nasser Al-Jasser on the sidelines of the OIC Conference in Istanbul.
The meeting focused on enhancing bilateral cooperation in Transport, Maritime Affairs and regional connectivity, said a press release issued on Saturday.
During the meeting, Khan formally invited the Saudi Arabian government to invest in the M-10 Motorway, featuring a new alignment from Karachi Port to Hyderabad. He emphasised that Pakistan is keen on fostering Public-Private Partnerships (PPP) with Saudi Arabia to modernise its transport sector.
READ MORE: KSA eyes corporate farming investment in Pakistan
“Pakistan and Kingdom of Saudi Arabia share deep-rooted brotherly and religious ties, supported by strong economic and trade trends,” he stated. He added that Pakistan aims to expand its land links and trade corridors to become a regional hub. He also highlighted the potential for massive investment in Pakistan’s maritime sector.
The Saudi minister expressed keen interest in modernising Pakistan’s communications sector. He noted that Saudi Arabia is particularly interested in increasing flight operations to Pakistan and emphasised that digitalisation and road surveillance are critical requirements of the modern era.
Meanwhile, Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar held a telephonic conversation with Foreign Minister of Saudi Arabia Faisal bin Farhan Al Saud on Saturday.
The two leaders discussed the evolving regional situation, forthcoming international engagements, and agreed to remain in close contact, the Ministry of Foreign Affairs said in a statement.
American Dollar Exchange Rate