Prime Minister Shehbaz Sharif will pay an official visit today (Monday) to Saudi Arabia's capital Riyadh at the invitation of his Saudi counterpart and Crown Prince Mohammed bin Salman.
The two leaders will hold consultations to review the longstanding fraternal relations between the countries, keeping in view further strengthening of their multifaceted cooperation, especially in the economic field, a press statement issued by the Foreign Office stated.
The prime minister will also attend the Saudi Future Investment Initiative Summit.
PM Shehbaz-led coalition government has ultimately succeeded in persuading Saudi Arabia to install a state-of-the-art deep conversion refinery along with a petrochemical complex in Pakistan, the project that was shelved by the Kingdom of Saudi Arabia during the PTI government, a top official at the Energy Ministry told The News.
The official said that a high-powered delegation of the KSA, headed by the Crown Prince, is coming to Pakistan somewhere in the last week of November.
The Pakistani side made huge efforts to persuade the KSA to honour the MoUs and invest in Pakistan. The present government in Pakistan has also put its weight behind Saudi Arabia, which has locked horns with the United States over the cut in oil supply in the international market.
Major announcements regarding different development projects on Saudi Arabia's behalf are expected mid-November this year as the Saudi Crown Prince Muhammad Bin Salman (MBS) will undertake a trip to Pakistan, The News reported.
The prince, who has just been appointed the Saudi prime minister, was invited by Prime Minister Shehbaz Sharif in a recent telephonic conversation between the two.
The ties between Pakistan and Saudi Arabia have gained further strength in recent months due to the interest shown by Ambassador Nawaf, the sources added.