Pakistani president Arif Alvi conferred Saudi Crown Prince Mohammad Bin Salman with the Pakistan’s highest civilian award a day after signing several agreements worth $20bn with South Asian country.
Prince Mohammad, on the second day of his trip to Pakistan, met President Alvi in the capital Islamabad, where he was conferred with the “Nishan-e-Pakistan” at a formal ceremony.
The Saudi investment deals came at a time when Pakistan’s foreign exchange servers with a $6 billion loan rapidly dwindling, negotiates a bailout with the International Monetary Fund. Saudi in recent months has helped its economy afloat.
Saudi Arabia supporting Pakistan’s economy marks a deepening ties between allies, and in return Pakistan’s army lending support to Saudi and its royal family. The crown prince in the sideline of his trip will also hold talks with Pakistani army Chief General Qamar Javed Bajwa.
General Bajwa is the 10th and incumbent Chief of Army Staff of the Pakistan Army, a four-star rank army general. He ruled the country for roughly 30 years since independence from the British.
Prince Mohammad made Pakistan his first drop as he started his three-nation tour.
The two leaders held rounds of one-on-one meetings, after which they presided over the singing of seven investment agreements worth $20bn on crude oil, petrochemicals, alternative energy, mineral resources, sports and power generation in Pakistan.
He is scheduled to visit Indian and China next.