The federal government has won a one-billion-dollar investment guarantee from Saudi Arabia that will be used for the installation of a desalination plant in Karachi to address the water supply woes.
The announcement came from Prime Minister Shehbaz Sharif at CM House, where he was invited on Friday by the Karachi Chamber of Commerce and Industry to discuss “key issues of the economy” and “suggest measures to meet the current challenges”, which have crippled the country’s financial system and brought the newly-placed coalition government at a crossroads.
During his address, the PM disclosed the fresh development and his ‘successful’ talks with Saudi Arabia which had assured the Pakistani government of a one billion dollar investment.
“The prime minister said an investment of $1 billion by Saudi Arabia is ready, which can be used to address the problem of water supply by installing a desalination plant,” said a statement issued by PM House after the meeting.
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