ISLAMABAD: Pakistan Foreign Exchange Reserves have witnessed an increase of$1 billion on Friday.
Pakistan on Friday received the second tranche of $1 billion from SaudiArabia after which the foreign exchange reserves stood at $8.26 billion.
Sources in the Ministry of Finance said Pakistan will receive the thirdinstallment in mid-January.
Last month, the State Bank of Pakistan (SBP) had confirmed receiving thefirst $1 billion from Saudi Arabia.
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During Prime Minister Imran Khan’s visit to the Kingdom on October 23 itwas announced that Saudi Arabia had agreed to provide a $12 billion packageto Pakistan to support its ailing economy. The package included $3 billionbalance of payments support and $3 billion in deferred payments on oilimport.
