Pakistan Prime Minister Shahbaz Sharif recently visited Saudi Arabia

Saudi Arabia has announced an investment of $1 billion in cash-starved Pakistan.

The announcement of this investment comes after the visit of Pakistan Prime Minister Shahbaz Sharif and Military Chief Qamar Javed Bajwa to Saudi.

Pakistan is currently facing both economic and political crisis.

The announcement was made during a phone call between Saudi Foreign Minister Prince Faiz bin Farhan bin Abdullah and his Pakistani counterpart Bilawal Bhutto Zardari.

Apart from discussing Saudi-Pakistan relations, international issues, the Saudi Foreign Minister also informed about the instructions of the Saudi ruler.  

According to the Saudi Press Agency, "The Guardian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud has directed that US$1 billion be invested in Pakistan to reaffirm our commitment to Pakistan's economy and to the Pakistani people." "

The Foreign Minister of Pakistan has welcomed the investment of $ 1 billion by Saudi in Pakistan.  

The agency said in its report that Saudi Arabia's Foreign Minister Prince Faisal bin Farhan gave this information to Pakistan's Foreign Minister Bilawal Bhutto Zardari. 

In view of the economic crisis, Pakistan will need economic investment of about $ 30 billion in the financial year 2023 while the availability of this is only $ 37 billion.

Pakistan has received financial assistance of $ 4 billion from friendly countries.