Islamabad: Saudi Arabia has agreed to provide $ 4.2 billion to Pakistan who lacked money to support its economy, it appeared on Wednesday after Prime Minister Imran Khan held talks with Saudi Prince Mohammad bin Salman in Riyadh this week.
Information Minister Fawad Chaudhry took it to Twitter to announce the assistance that came only two days after Khan paid a three-day visit to the bay kingdom.
“The Saudi Arabian announcement supports Pakistan with 3 billion US dollars as deposits at the Central Bank of Pakistan and also financed processed oil products with 1.2 billion US dollars during this year,” he said in a tweet.
Breaking News Saudi Arabia Announcement Supports Pakistan with 3 billion US dollars as a deposit in …
https://t.co/T7Z0N9NVN3- CH Fawad Hussain (@Fawadchaudhry) 1635276009000 Minister of Khan, Thanking Prince Salman for generous assistance when The Pakistani economy faces difficulties.
“I want to thank HRH Prince Mohammad bin Salman to support sir with $ 3 BN as a deposit at the central bank sir & processed oil products with $ 1.2 billion.
KSA is always there for sir in our difficult times including Now when the world faces an increase in commodity prices (SIC), “he said on Twitter.
I would like to thank HRH Prince Mohammad bin Salman to support sir with $ 3 BN as a deposit at the central bank sir & fin …
https://t.co/Gep2xP1Kly- Imran Khan (@imrankhanPTI) 1635310998000in 2018, Saudi Arabia It has provided $ 3 billion in a cash deposit and promises $ 3 billion in oil facilities to Pakistan to help foreign exchange reserves in 2018.
However, because bilateral relations deteriorate later, Islamabad must return $ 2 billion deposits of $ 3 billion.
Pakistan announced in June this year that Saudi Arabia will provide $ 1.5 billion oil facilities per year.
Now it has provided direct disposition assistance along with oil facilities after Khan’s visit.
The official announcement of the agreement will be made by the Advisory of the Prime Minister of Finance and Revenue Shaukat Tarin and Energy Minister Hammad Azhar, Dawn Newspaper reported.
The Saudi government will soon deposit $ 3 billion in Pakistan’s account for a year and continue to roll up to the completion of the International Monetary Fund (IMF) program in October 2023, the report quoted an official.
Pakistan and the IMF have signed a $ 6 billion deal in July 2019 but this program slipped in January 2020 and was briefly returned in March this year before returning to escape in June.
From June to August there was no serious discussion between the two parties.
In addition, the Saudi government will provide crude oil to Islamabad with payments that are suspended to be worth up to $ 1.5 billion per year, the report said.