ISLAMABAD: The administration of Pakistan’s eastern province of Punjab on Saturday announced its decision to establish a Saudi Industrial Estate while offering a 10-year tax exemption to investors from the Kingdom, according to an official statement.
The plan was unveiled during a meeting between Punjab Chief Minister Maryam Nawaz Sharif and a delegation of the Saudi-Pak Joint Business Council in Lahore to discuss investment prospects in the province.
The delegation, led by Prince Mansour bin Mohammad Al Saud, arrived in Pakistan on Wednesday to hold talks with officials and business leaders to expand bilateral trade and investment ties.
The visit aimed to deepen strategic relations between the two nations following last month’s defense pact signed in Riyadh, under which aggression against either country would be treated as an attack on both.
According to a statement by the Punjab administration’s media wing, the chief minister highlighted business opportunities in the province during a detailed briefing for the delegation.
