KATI welcomes the Prime Minister’s visit to Saudi Arabia

Acting President of Korangi Association of Trade and Industry (KATI) Farrukh Qandahari has welcomed the visit of Prime Minister Shahbaz Sharif to Saudi Arabia. He said that at present the prices of petroleum products are at the highest level in the world market due to which petroleum products in Pakistan are also at the highest level in the history of the country, which has increased the hardships of the people immensely.

He said that the Prime Minister should discuss with the Saudi Crown Prince for investment besides getting the facility of low cost and deferred payment petrol from Saudi Arabia.

Acting President KATI said that Pakistan could get out of this difficult time if the Saudi government cooperated as in the past due to the depletion of Pakistan’s foreign exchange reserves.

He termed the visit of the Prime Minister as very important in this regard.

Farrukh Qandhari said that there are more than 2 million Pakistanis residing in Saudi Arabia who send the most remittances, however, the Prime Minister is expected to meet with Saudi investors for investment, including the Pakistani community, to attract new investments.

Acting President further said that Saudi Arabia had helped Pakistan on several occasions in the past and facilitated the late payment of oil which had reduced the shortage of petroleum products in the country. He said that it was important for Pakistan to immediately seek the cooperation of friendly countries to help the economy overcome its difficulties.

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