Saudi Crown Prince to arrive on February 16

islamabad — Pakistan is preparing to welcome Saudi Arabia’s Crown Prince Mohammed bin Salman for a state visit over the weekend, the foreign office confirmed on Wednesday, as Islamabad hopes to sign various investment deals to prop up its slumping economy.

The two-day visit will kick off on February 16 and include a raft of high-level talks with Prime Minister Imran Khan along with Pakistan’s military chief.

“During his stay, Pakistan and Saudi Arabia will be signing a number of agreements ... related to diverse sectors,” Pakistan’s foreign office said in a statement.

“The two countries will also discuss ways and means to develop a robust follow-up mechanism to ensure effective implementation and quick progress on tangible areas of cooperation.”

Two five-star hotels have been fully booked by the Saudi delegation while the Kingdom’s elite royal guards arrived in Pakistan earlier this week to assist with security arrangements, according to a municipal official in Islamabad. Saudi Arabia is reportedly preparing to sign a record investment package with Pakistan, aiming to provide welcome relief for its cash-strapped ally.

At the heart of the investment is a reported $10-billion refinery and oil complex in the strategic Gwadar Port on the Arabian Sea, the ultimate destination for the massive multi-billion dollar China Pakistan Economic Corridor.

The visit comes just weeks after Pakistan rolled out the red carpet for His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, shortly after the UAE pledged to provide $3 billion to support Pakistan’s battered economy.

During his stay, Pakistan and Saudi Arabia will be signing a number of agreements... related to diverse sectors. The two countries will also discuss ways to develop a robust follow-up mechanism to ensure quick progress on tangible areas of cooperation. Pakistan Foreign Office

The Wall Street Journal reported last month that both Saudi Arabia and the UAE — Islamabad’s biggest trading partner in the Middle East — have offered Pakistani Prime Minister Imran Khan some $30 billion in investment and loans. —