ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday extended his “deep gratitude” to the leadership and brotherly people of the Kingdom of Saudi Arabia for the US$2 billion deposit with the State Bank of Pakistan.
Pakistan’s central bank has received $2 billion from Saudi Arabia, announced Federal Minister Ishaq Dar, a development that gives a massive boost to the country’s low level of foreign exchange reserves.
“I would like to especially thank my brother Saudi Crown Prince and Prime Minister His Royal Highness Mohammed bin Salman for ensuring this financial support to Pakistan,” he wrote on Twitter.
The prime minister hoped that the deposit would strengthen Pakistan’s foreign exchange reserves and reflected the growing confidence of the brotherly countries and the international community in the country’s economic turnaround.
“We remain committed to making all necessary efforts to improve Pakistan’s economy,” he said.
He lauded Finance Minister Senator Ishaq Dar and army chief General Syed Asim Munir for the valuable efforts they made in this regard.
Meanwhile, The SBP’s forex reserves increased by $393 million to reach $4.46 billion at the end of last week, mainly due to receipt of official government of Pakistan inflows. Cumulatively, reserves held by the SBP have surged by $937 million in the last two weeks.
