It is a joint investment company, with equal stakes for the two sides, formed to make an investment in industrial and agro-based industrial fields in Pakistan. Saudi Arabia has agreed to extend terms of Saudi-Pak Industrial and Agriculture Investment Company for a period of 50 years. These business transactions are likely to increase investment in Pakistan. Responding to the request, the Finance Division has requested the cabinet to extend the life of Saudi-Pak Investment Company for another 50 years effective June 5, 2030. The Cabinet Division has proposed that the cabinet may approve the inclusion of Nacta in Schedule-11 of the Rules of Business 1973 as an entity under the Interior Division.

Source: The Express Tribune October 01, 2019 03:45 UTC