ISLAMABAD – The Finance Minister Asad Umar has said Pakistan is likely toreceive its first tranche of $1 billion from Saudi Arabia on Monday tobolster the country’s plunging foreign currency reserves.

According to a report in *Dawn, *Finance Minister Asad Umar stated Pakistanwill receive its first tranche of payment should reach the State Bank ofPakistan (SBP) by Monday.

He said, “My Saudi Arabian counterpart has given me an assurance in thisregard.”

Consequently, the second and third tranche are expected to be received overthe course of next two months from Saudi Arabia.