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Pakistan to get $3 billion from Saudi Arabia to help stabilise economy: Official

Mount Equity Group Tokyo Japan > News > Markets > Pakistan to get $3 billion from Saudi Arabia to help stabilise economy: Official

Cash-strapped Pakistan on Saturday received $3 billion from Saudi Arabia as part of financial assistance sought from the Kingdom to stabilise the country’s economy, according to a senior government official.

 Saudi Arabia’s financial support to Pakistan comes more than one month after Prime Minister Imran Khan visited Riyadh and held talks with Crown Prince Mohammad bin Salman.

 Following the talks, Saudi Arabia had agreed to provide $4.2 billion worth of assistance to Pakistan, out of which $3 billion was to be transferred as deposit in Pakistan’s central bank and also financing refined petroleum products with 1.2 billion US dollars during the year.

 Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin confirmed that the State Bank of Pakistan (SBP) had received a USD 3 billion deposit from Saudi Arabia.

 “Good news, USD 3 bn Saudi deposit received by SBP. I want to thank His Excellency Crown Prince Mohammed…

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