ISLAMABAD: Pakistan is set to receive $2 billion in aid from Saudi Arabia within the next seven working days.
According to Muhammad Jawad Sohrab Malik, Special Assistant to Prime Minister, the Saudi aid is expected to help Pakistan secure similar assurances from the IMF and other friendly countries.
The comments from the SaPM came after his meeting with Nawaf bin Said Al-Malki, the Ambassador of the Kingdom of Saudi Arabia to Pakistan, in Islamabad the other day.
Met Saudi ambassador to Pakistan,H. E. Nawaf bin Said Al-Maliki @AmbassadorNawaf in Islamabad. 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… pic.twitter.com/iE3p66w8bI
— Jawad Sohrab (@JawadSohrab) April 14, 2023
Both sides expressed their commitment to enhancing bilateral collaboration and strengthening ties between the two countries. Malik thanked the ambassador for confirming that the deposit of the $2 billion pledged by the Kingdom would take place in the SBP account.
He explained that the loan would help Pakistan overcome its current financial crisis, and pave the way for securing similar assurances from other friendly countries, such as the UAE and Qatar.
Speaking on this occasion, the Saudi envoy reiterated the Kingdom’s commitment to building long-term, sustainable investment transactions between Saudi Arabia and Pakistan. He said the Saudi government was keen in recruiting more manpower from Pakistan for various sectors of the kingdom, including the launch of several mega projects under Saudi Vision 2030.
Crown Prince Mohammed bin Salman has pledged to increase Saudi Arabian investments in Pakistan’s energy and IT sectors to $10 billion within the next few years.
