Saudi Arabia will spend $1 billion in Pakistan.

Saudi Arabia will spend $1 billion in Pakistan.

According to the Saudi Press Agency, King Salman bin Abdulaziz al-Saud has issued a notice to invest $1 billion in Pakistan.

According to the state news agency, Saudi Arabia's Foreign Minister Prince Faisal bin Farhan bin Abdullah told Foreign Minister Bilawal Bhutto-Zardari of the King's decision during a phone call.

This revelation comes only one day after the Qatar Investment Authority (QIA) announced plans to spend $3 billion in Pakistan.

Qatari investment would primarily target airports in Islamabad and Karachi, as well as renewable energy and electricity industries, as well as the hospitality industry.

This was announced during Prime Minister Shehbaz Sharif's two-day official visit to Qatar, when he met with Qatar's Emir, Tamim bin Hamad Al Thani.

Both parties agreed to improve bilateral commerce, collaborate in the agriculture and food industries, and increase Qatar's investments in Pakistan's energy, tourism, and hospitality sectors.