ISLAMABAD: Prime Minister Imran Khan Wednesday offered thanks to Crown Prince Mohammed bin Salman after Saudi Arabia pledged to provide $3 billion in assistance to Pakistan to help bolster its shrinking foreign reserves.
I want to thank HRH Prince Mohammad bin Salman for supporting Pak with $3 bn as deposit in Pak’s central bank & financing refined petroleum product with $1.2 bn. KSA has always been there for Pak in our difficult times incl now when world confronts rising commodity prices.
— Imran Khan (@ImranKhanPTI) October 27, 2021
The kingdom has “always been there” for Pakistan in its testing times including “now” — at a time when the world is confronting rising oil and commodity prices.
The Saudi Fund for Development (SFD), a Saudi Arabian government agency that provides development assistance by financing social and infrastructure projects, announced a deposit of $3 billion with the State Bank of Pakistan (SBP) to help shore up its reserves, Tarin said on Wednesday .night
The latest development came hours after Prime Minister Khan returned from a visit to Saudi Arabia.
The package includes $3 billion dollars in deposits with the State Bank of Pakistan and $1.2 billion worth of oil supplies on deferred payments. It will be useful when the rupee is under pressure and international oil prices are soaring.
Pakistan’s economy is currently under pressure because of an increase in oil prices in the international market. The government has repeatedly increased oil prices at home, drawing criticism from the nation.
