Pakistan likely to receive first tranche of financial package from Saudi Arabia today
The Finance Ministry also stated that supply of petroleum products will be started in December.
ISLAMABAD (Dunya News) – Pakistan likely to receive first tranche of financial package signed between Pakistan and Saudi Arabia today (Monday), Ministry of Finance reported.
According to details, Saudi Arabia will hand over the first installment of $1 billion to Pakistan “as balance of payment support” and Ministry of Finance will deposit the amount in the State Bank of Pakistan. The remaining money will be given in two tranche in next two months.
The Finance Ministry also stated that supply of petroleum products will be started in December.
Earlier, Pakistan is yet to receive US$3 billion pledged by Saudi Arabia during Prime Minister Imran Khan’s visit last month. The delay was due to official procedure.
On October 23, Saudi Arabia had agreed to a US$6 billion support package to bolster Islamabad’s dwindling finances following a second visit by Prime Minister Imran Khan to Riyadh seeking aid.
The Saudi agreement came as new Pakistani Prime Minister Imran Khan attended a Saudi investment conference that has been boycotted by several other leaders over the death of a dissident Saudi writer at the country’s consulate in Istanbul.
