RAWALPINDI, June 4: Saudi Arabia is expected to provide Pakistan with a grant of $300 million to offset the burden on country’s economy in the wake of rising fuel prices.

This indication was given by the Saudi Ambassador in Pakistan Ali S. Awadh Asseri, while speaking to newsmen in Rawalpindi on Wednesday. He said Saudi Arabia fully realised the difficulties being faced by Pakistan following rising fuel prices and food crisis, and during the upcoming visit of Prime Minister Yousuf Raza Gilani to the kingdom, several matters will be discussed to further improve economic relations between the two brotherly countries.

Ambassador Asseri said the Saudi Embassy in Islamabad and its consulate was issuing work visas to approximately 1,200 Pakistanis every day, which reflects kingdom’s close relationship with Pakistan.

Earlier addressing the members of Rawalpindi Chamber of Commerce and Industry (RCCI), the Saudi envoy called for greater partnership between private sectors of the two countries. There is enormous scope for expanding trade and economic relations.

“Given political and investment security, Pakistan remains a good place for investment, he added.” Saudi investors have made huge investments in countries that ensure political and investment security, he said.

At the same time, Pakistani businessmen should also take steps to invest in Saudi Arabia where unprecedented liberalisation of policies has contributed to facilitate foreign investment.