Pakistan to honour Saudi crown prince after $20bn deals

Pakistan to honour Saudi crown prince after $20bn deals

Pakistan to honour Saudi crown prince after $20bn deals

The crown prince was said to be launching a £3.8billion offer to take control of the Premier League club, according to weekend reports.

The Crown Prince arrived at the President House in traditional Presidential chariot along with Prime Minister Khan.

Shortly after his arrival, crown prince Mohammed, accompanied by a high-powered delegation including leading businessmen and Cabinet ministers, attended a signing ceremony for the investment agreements worth $20 billion.

"Not travelling to the West does not mean that he can not come to the East. Saudi Arabia is also making strategic adjustments, and Asia is the new main direction of Saudi diplomacy", he said.

Pakistan is facing a serious balance of payments crisis and hopes the huge deals signed over the two-day visit - seven separate agreements and memorandums of understanding - will boost its struggling economy.

F-16 and JF-17 Thunder jets of Pakistan Airforce took the plane of visiting dignitary into protective custody when it entered into Pakistan's airspace and escorted it to its destination.

The Crown Prince is now on a two-day official visit to Pakistan, the first leg of his Asian tour, starting Sunday.

The Crown Prince was earlier accorded a red carpet welcome and presented a guard of honor at the PM House. The Saudi government admitted he was murdered but denied Mohammed bin Salman had ordered the hit.

Crown prince Mohammed will later travel to neighbouring India amid heightened tensions between Islamabad and New Delhi over this week's suicide vehicle bombing in India-administered Kashmir that killed more than 40 paramilitary troops.

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Khan has already visited Saudi Arabia twice since coming to power last summer.

Pakistan is in the grip of a major debt crisis and is seeking a $12 billion bailout from the International Monetary Fund but has yet to sign the deal which comes with tough conditions.

In October 2017, United agreed a strategic partnership in Saudi Arabia with the country's General Sports Authority (GSA).

This was followed by the inaugural session of the Saudi-Pakistan Supreme Coordination Council (SCC), co-chaired by the prime minister and the Crown Prince.

"Reports claiming that HRH the Crown Prince Mohammed Bin Salman intends on buying @ManUtd are completely false", Al-Shabanah tweeted from a verified account.

At the end of the visit, the Crown Prince thanked the Prime Minister for his warm hospitality.

The crown prince's visit to Islamabad comes as the Taliban appeared to postpone a round of talks with the USA set to be held in Pakistan this week, according to the group's spokesman.

The kingdom, he said, has always supported Pakistan in odd times and both have enjoyed long standing fraternal ties.

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