Saudi Crown Prince Mohammed bin Salman (File photo)
Saudi Crown Prince Mohammed bin Salman (File photo)

‘Saudi’s US $ 20 billion investment in Pakistan a mere bailout while investment in India a partnership’

ANI | Updated: Feb 18, 2019 20:12 IST

New Delhi [India], Feb 18 (ANI): Saudi Arabia Crown Prince Mohammad bin Salman’s announcement of US $ 20 billion investment in Pakistan is a mere bailout, sources said here on Monday.
They further revealed that there is no comparison between Riyadh’s investments in the two countries as “the investment in India is an investment in a robust economy growing at 7 per cent.”
Saudi Arabia has ranked India as its 8th largest strategic partner.
MBS, as Saudi Arabia Crown Prince Mohammad bin Salman is also known, is scheduled to visit India from February 19, but he will not be flying directly from Islamabad to New Delhi.
The Saudi Crown Prince will return to Riyadh and then will leave for India on his two-day long maiden state visit to India. The issues related to counter-terrorism and energy security are expected to be among to agenda for the bilateral talks.
Saudi Arabia on Sunday signed eight agreements amounting up to US $ 20 billion investment in cash-starved Pakistan.
Last month, Saudi Arabia had agreed to provide US $ 3 billion to Pakistan as a balance of payment support to stabilise its ailing economy, besides providing oil on deferred payment for three years.
The Saudi Crown Prince was slated to arrive in Islamabad on Saturday, but the visit was postponed by a day. Pakistan Foreign Ministry did not divulge the reason, but stated that the bilateral engagements “remain unchanged.”
The sudden change in his schedule had come close on the heels of Saudi Arabia strongly condemning Thursday’s terror attack in Pulwama in Jammu and Kashmir, which claimed the lives of 40 CRPF personnel. Pakistan-based Jaish-e-Mohammed (JeM) terror outfit claimed the responsibility for the attack. (ANI)