Pakistan has now received massive investment from both China and Saudi Arabia. The Saudi deal also includes the release of 2,000 Pakistani prisoners.
Being a memorandum of understanding means that the actual deals could fly under the radar later. Presumably the average Pakistani will not benefit in any way…
Khan welcomed Saudi investment in areas of oil refining, petrochemicals, energy and other sectors. “We have CPEC (China-Pakistan Economic Corridor), we have links with China. So we welcome Saudi Arabia to participate with us. It’s an exciting future,” the Pakistani prime minister said.
CPEC is a package of infrastructure, energy and port-building projects Beijing is funding in Pakistan as part of its global Road and Belt Initiative. China has already invested $19 billion over the past five years and plans to invest billions more to construct industrial zones.
Pakistan maintains strong political, cultural, economic and defense ties with Saudi Arabia. The Saudi Kingdom hosts more than 2.5 million Pakistani expatriates, and is a key source of oil supplies for Islamabad – on deferred payments, as well cash grants to help Pakistan’s often ailing economy.