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PM thanks Saudi Crown Prince for $3bln deposit in State Bank

Dunya News

Saudi Arabia supports Pakistan in difficult times: Imran Khan

ISLAMABAD (Dunya News) – Prime Minister Imran Khan on Wednesday thanks Crown Prince of Saudi Arabia Mohammad bin Salman for supporting Pakistan with $3 billion as deposit in Pakistan’s central bank State Bank of Pakistan (SBP) and financing refined petroleum product with $1.2

Prime Minister Imran Khan, in a tweet, said that the kingdom has always been there for Pakistan in our difficult times including now when world confronts rising commodity prices.

It merits mention that the Saudi Fund for Development announced a “generous directive” to deposit an amount of US three billion dollars with the State Bank of Pakistan to help the government support its foreign currency reserves and support it in facing the repercussions of the Corona pandemic.

According to the news by the Saudi Press Agency – SPA, the deposit of US 3 billion dollars was in addition, to an oil deferred payment facility of US 1.2 billion dollars for petroleum products, during the year.

The announcement would help ease pressure on Pakistan’s foreign exchange reserves, due to the recent sharp hike in global commodity prices.