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Wednesday, April 27, 2022

PM Imran thanks Saudi crown prince for $3b deposit

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Prime Minister Imran Khan on Wednesday thanked Saudi Arabia’s Crown Prince Mohammed bin Salman for depositing $3 billion in Pakistan’s central bank.

The premier took to his official Twitter account to thank the prince for his “support” and for financing refined petroleum products with $1.2 billion.

The Kingdom of Saudi Arabia (KSA) “has always been there for Pakistan in our difficult times including now when world confronts rising commodity prices,” added the premier.

Read PM Imran, Saudi crown prince vow to boost ‘fraternal ties’

Saudi Arabia agreed to provide a $4.2 billion lifeline to Pakistan on an annual basis in the shape of cash assistance and oil on deferred payments, Information Minister Fawad Chaudhry said on Tuesday.

“Saudi Arabia would deposit $3 billion cash in the State Bank of Pakistan and also provide $1.2 billion worth of oil on deferred payments,” said the information minister while talking to The Express Tribune.

It is the second financial assistance package that the kingdom has extended to Pakistan in the past three years, aiming to help the country manage a brewing external sector crisis.

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