Saudi Arabia has announced a support package of $3 billion as deposits in the State Bank of Pakistan and $1.2 billion worth of financing on deferred payments for refined petroleum products.
The minister for information and broadcasting, Fawad Chaudhry, tweeted that Saudi Arabia announced to support Pakistan with $3 billion as deposit in Pakistan central bank and also financing refined petroleum products with $1.2 billion during the year.
Prime Minister Imran Khan thanked Prince Mohammad bin Salman for supporting Pakistan. He tweeted that Saudi Arabia has always been there for Pakistan in our difficult times, including now when the world confronts rising commodity prices.
Finance Adviser Shaukat Tarin thanked the Crown Prince and KSA for the lifeline.
A handout issued by the Saudi Fund for Development states that it announced the issuance of the generous directive to deposit an amount of three billion dollars with the Central Bank of Pakistan to help the Pakistani government support its foreign currency reserves and support it in facing the repercussions of the Corona pandemic.
The fund added that, in addition, the generous directive was issued to finance the oil derivatives trade with a total amount of $1.2 billion during the year.
The Fund indicated that these generous directives confirm the Kingdom’s continued position in supporting the economy of the Republic of Pakistan.
It is pertinent to note that the Pakistani Prime Minister just completed his three-day official visit to the brotherly country Saudi Arabia and this one was the second visit of Pakistani PM to Saudi Arabia during this year.
