Daily Times

Minister for Petroleum Dr. Musadik Malik is optimistic about the Memorandum of Understanding (MOUs) signed with Saudi Arabia, predicting significant outcomes where around five of these MOUs have evolved into concrete contracts and transactions, which will likely boost employment and investment opportunities.

In an exclusive interview with a private news channel, he said Pakistan’s economy has received a significant boost of $2.2 billion thanks to five Memorandum of Understanding (MOUs) signed with Saudi Arabia, which have now become concrete contracts.

This development is expected to bring in substantial investments and create new job opportunities in various sectors, including industry, agriculture, IT, education, health, petroleum, mining, energy and food, he mentioned. Dr. Musadik Malik further stated that some opponent had previously mocked the signing of Memorandum of Understanding (MOUs) with Saudi Arabia, suggesting it was merely a routine practice with little tangible outcome, However, he emphasized that this time would be different.

“Now, people will see that these are not just MOUs on paper but actual transactions and investments materializing,” Dr. Malik asserted.

He highlighted that around five of the MOUs have already translated into concrete contracts and transactions, paving the way for increased employment and investment opportunities in Pakistan.

Pakistan and Saudi Arabia have a long-standing “brotherly” relationship, sharing common interests, values and a shared foreign policy outlook, particularly in regional and international events, he added.