Pakistan to sign agreements worth $2 billion with Saudi Arabia: PM Shehbaz

Pakistan is set to sign agreements worth $2 billion with longtime friend Saudi Arabia soon, said Prime Minister Shehbaz Sharif on Tuesday.

PM Sharif made this announcement, indicating the expansion of economic partnerships between Pakistan and Saudi Arabia.

The agreements are expected to be signed during a visit by a Saudi delegation ahead of the Shanghai Cooperation Organisation (SCO) meeting scheduled for October 15-16 in Islamabad.

The Saudi delegation, led by the Minister for Investment Khalid Bin Abdulaziz Al-Falih, is expected to visit Pakistan from October 9 to 11.

In addition, the Prime Minister highlighted the positive efforts made by the government to secure external financing from China, UAE, and Saudi Arabia, which helped Pakistan secure a loan from the International Monetary Fund (IMF).

He also mentioned the successful visit of the Malaysian Prime Minister and informed the cabinet about the upcoming visit of the Saudi delegation.

Talking about the PTI protest and its clashes with the police amidst the SCO meeting, the premier suggested that the protest was an attempt by the former ruling party to "stay relevant" as the economy was showing signs of improvement.

He expressed the view that the PTI's actions were driven by a fear of being overshadowed by economic progress.

The Prime Minister also mentioned the efforts of the Federal Board of Revenue (FBR) to increase the number of tax filers and expand the tax base, indicating progress in addressing issues such as electricity.