SBP to receive crucial $2bn deposits from Saudi Arabia 'within a few days'
Pakistan
'A further $10 billion pledged by the Saudi Crown Prince will be invested in the Energy & IT sectors
ISLAMABAD (Web Desk) – Pakistan would receive $2billion deposits in its central bank from Saudi Arabia “within a few days,” said Special Assistant to Prime Minister Muhammad Jawad Sohrab Malik as the country scrambling to secure financial assurances from friendly nations to meet the IMF conditions.
Mr Malik made the announcement in a tweet after he held a meeting with Saudi Ambassador to Pakistan Nawaf bin Said Al-Malki in the federal capital.
“Pakistan will receive $2 billion deposit in the SBP within a few days from KSA. A further $10 billion pledged by the Saudi Crown Prince will be invested in the Energy & IT sectors over a period of 2 years,” he wrote on Twitter.
“More crucially, large numbers of manpower from Pakistan will be engaged in the Saudi Vision 2030. Our nation owes a special gratitude to the PM @CMShehbaz for extracting Pakistan from its dire financial straits,” he added.
The special assistance also acknowledged the Saudi diplomatic and financial support for Pakistan throughout our history, especially during this critical phase.
Meanwhile, the Saudi envoy has reiterated the Kingdom's commitment to building long-term, sustainable investment transactions between the two countries.
Both parties showed a commitment to strengthening the bilateral ties between Pakistan and Saudi Arabia.
Highlighting the diverse business landscape in Pakistan, the SAPM expressed that Pakistan has a lot to offer in both the goods and services sectors and can immensely gain from exports to the Gulf.
He commended the Kingdom's commitment to providing enhanced employment opportunities for the Pakistani workforce in its future development ventures.
During the meeting, both dignitaries engaged in fruitful discussions on further strengthening of bilateral business relations, recruitment of more workforce from Pakistan, and enhancing FDI in potential sectors of the economy.
