He is expected to sign a range of agreements worth up to $15 billion dollars, including for three power plants in Pakistan's Punjab province and an oil refinery and petrochemical complex to be set up in the coastal city of Gwadar in southwestern Balochistan.
As the son of Saudi King Salman, whose formal title is the Custodian of the Two Holy Mosques (in Mecca and Medina), the crown prince was there to inspect the construction work underway to renovate and expand the very big complex surrounding the Kaaba.
It is pertinent to mention here that all the arrangements have been finalised for the first-ever visit of Saudi Crown Prince Muhammad bin Salman, who is scheduled to touch down in Islamabad on Feb 16.
Widespread outrage at the journalist's gruesome death dealt the crown prince's global reputation a "severe blow", the New York Times said, and forced him to spend weeks "lying low" before returning to the public stage, Reuters reported.
Foreign news agency had reported that Mohammed, who is also Saudi Arabia chairman of the Council of Economic and Development Affairs, is on a tour to several Asian countries, starting with Pakistan this week.
The minister said that Riyadh also want to invest in food and agricultural sectors, while details regarding oil refinery can not be made public.
"We are putting in place a mechanism to take these MoUs to their logical conclusion". The Saudi Kingdom hosts hundreds of thousands of Pakistani expatriates, and is a key source of oil supplies to Islamabad on deferred payments and cash grants to help Pakistan's traditionally struggling economy.
Saudi Arabia is reportedly preparing to sign a record investment package with Pakistan, aiming to provide welcome relief for its cash-strapped Muslim ally.
Outlining the prince's agenda, the information minister said that he would attend a reception at the presidential palace on Saturday.
The Saudi Cabinet has authorized the ministers to sight the trade deal for investment with Pakistan.
The minister said that Pakistan had to play a role to strengthen relations among Muslim countries.
Chaudhry said that Islamabad would be on "high security alert" throughout the prince's visit and the Pakistan army and paramilitary Rangers would be in charge of keeping the capital safe. Saudi prosecutors say the plan was masterminded by two former advisers to the crown prince.