Saudi Arabia to ‘soon’ transfer cash assistance to Pakistan: Nawaf Al-Malki

'MoU for payment as well as deferred oil payment [facility] will be signed soon'

ISLAMABAD: Saudi Arabia will soon disburse cash deposit to Pakistan under the pledged financial assistance after approval of the Royal Court and signing of a Memorandum of Understanding (MoU) in a few days, Saudi Ambassador Nawaf Bin Said Al-Malki said on Thursday.

“This will be soon, InshaAllah. There will be the agreement from the Royal Court and the MoU will be signed in a few days for the payment, and also for the deferred oil payment [facility],” the Saudi envoy said.

Saudi Arabia had recently announced to provide Pakistan $3 billion as a cash deposit with the State Bank to address its balance-of-payments crisis. Also, the Kingdom had pledged a one-year deferred payment facility for the import of oil, worth up to another $1.2 billion.

Al-Malki said the government of Saudi Arabia considered Pakistan as “a dear country” with a very deep and strong relationship.

He said Saudia Arabia always stood with Pakistan and extended support to it on multiple occasions, adding that the relationship with Pakistan was regardless of any government in power.

The Saudi ambassador mentioned the camaraderie between the Saudi Crown Prince Mohammed Bin Salman and Prime Minister Imran Khan and expressed confidence that the relationship would strengthen in the future.

“In three years, the six visits of PM Imran Khan to the Kingdom reflect the level of relationship,” he added.

Asked about the scope of collaboration between the media of the two countries, he said the role of media was “very important in bringing the nations closer”.

From the JF-17 fighter aircraft to the thousands of factories in Faisalabad, he said, there were a lot of positive things to be proud of.

 

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