Saudi prince likely to sign $10bn MoUs during upcoming visit

Saudi prince likely to sign $10bn MoUs during upcoming visit

The US government will continue probing the death of Saudi journalist Jamal Khashoggi, Secretary of State Mike Pompeo said on Monday, following criticism of the White House's handling of the investigation into the murder.

Sources further said $20 billion investment will come in Pakistan following the visit of Saudi Crown Prince Mohammad Bin Salman.

During visit of the Saudi Crown Prince, both sides are ready to sign four memorandums of understanding (MoUs) worth $15 billion.

Lindsey Graham of SC, introduced legislation Friday that would bar certain arms sales to Riyadh in response to Khashoggi's slaying last October by Saudi operatives, and its role in Yemen's civil war.

The Saudi prince will be accompanied by 130 royal guards during the visit, they added.

In addition, Pakistan has also obtained United States dollars 3 billion Saudi loan at 3.18 percent interest rate to shore up official foreign currency reserves.

In a statement, it cited cooperation in areas including energy security, trade and investment, infrastructure, defence and security.

India is expecting Prince Mohammed to announce an initial investment in the National Investment and Infrastructure Fund, a quasi-sovereign wealth fund, to help accelerate the building of ports and highways, an official said.

Dawood did not put an exact investment figure by Saudi Arabia, as the precise size of the investment will be determined once a feasibility study of the oil refinery is ready.

He said Saudi Arabia always contributed towards strengthening Pakistan's economy. Callamard also said evidence gathered during her time in Turkey showed that Khashoggi "was the victim of a brutal and premeditated killing, planned and perpetrated by officials of the State of Saudi Arabia".

Late last week, Saudi Arabia's Minister of State for Foreign Affairs, Adel al-Jubeir, told reporters in Washington that people should await the results of the trial of the suspects as well as the end of an ongoing investigation before drawing any conclusions about the case.

Ahead of the deadline, a group of Republican and Democratic senators on Thursday renewed their push to penalise Saudi Arabia, unveiling legislation to bar some arms sales and impose sanctions. He said 40 major businessmen from the private sector are coming to Pakistan along with the top Saudi dignitaries. "Their investment fund is over $1 trillion, so we want just a fraction of that", said a second Pakistani minister, who did not wish to be named.

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