Saudi-Pak finances $14.5 million private sector projects
The Islamabad-based Saudi-Pak Industrial and Agricultural Investment Company has disbursed a total financing of 871.6 million Pakistani rupees ($14.55 million) to 15 companies in the industrial, agricultural and banking sectors, during the first quarter of financial year 2002.
Established in 1981 under an agreement signed between the governments of Saudi Arabia and Pakistan, Saudi-Pak’s primary goal is to promote industrial development in Pakistan, by providing financial assistance for medium and large industrial projects in private sector.
Saudi-Pak’s paid-up capital of PR1.756 billion is contributed in equal proportion by the two governments. Since its inception, Saudi-Pak has provided financing facilities totaling PR12.151 billion. — (menareport.com)
© 2002 Mena Report (www.menareport.com)