Pakistan seeks $3 billion support package from Saudi Arabia
Shares
ISLAMABAD – Prime Minister Imran Khan Wednesday thanked Saudi Crown Prince Mohammad Bin Salman for providing $3 billion in support to Pakistan.
“I want to thank HRH Prince Mohammad bin Salman for supporting Pakistan with $3 billion as deposit in Pakistan's central bank and financing refined petroleum product with $1.2 billion,” the premier wrote on Twitter.
Khan mentioned that Saudi Arabia has always been there for Pakistan in our difficult times including now when the world confronts rising commodity prices.
PM tweets came after Saudi Arabia agreed to revive its financial support to Pakistan, including $3 billion in safe deposits and $1.2 to $1.5 billion worth of oil supplies on deferred payments.
A statement issued by the Saudi Press Agency (SPA)cited “the Saudi Fund for Development (SFD) announced the issuance of the Royal Directive to deposit an amount worth $3 billion into the central bank of Pakistan, to help the Pakistani government support its foreign currency reserves and support it in facing the impacts of the coronavirus pandemic”.
“It pointed out that these royal directives confirm the Kingdom of Saudi Arabia's ongoing stance in supporting the economy of the sisterly Republic of Pakistan,” the statement further reads.
Meanwhile, Federal Minister for Energy Hammad Azhar also shared a tweet about the financial support from Kingdom, saying it will help ease pressures on our trade and forex accounts as a result of the global commodities price surge.
