Finance Minister Muhammad Aurangzeb has confirmed that Saudi Arabia has rolled over Pakistan’s $3 billion deposit, providing continued support to the country’s foreign exchange reserves.
Speaking to reporters after attending a meeting of the Senate Standing Committee on Finance, Aurangzeb briefly addressed the status of the deposit, saying, “We are all good on that,” when asked whether the Kingdom had renewed the facility, which matured earlier this week.
Key Support for Foreign Exchange Reserves
Saudi Arabia had previously extended the $3 billion deposit for three months in April 2026, allowing Pakistan to repay a maturing loan owed to the United Arab Emirates (UAE). The facility matured earlier this week, although the Ministry of Finance had not officially announced its renewal.
Discussions Held During Saudi Visit
The confirmation follows Aurangzeb’s recent visit to Saudi Arabia alongside Federal Minister for Power Sardar Awais Leghari, where both sides discussed economic cooperation, financial support, and other matters of mutual interest.
Backing Under IMF Program
Under Pakistan’s $7 billion International Monetary Fund (IMF) program, Saudi Arabia, China, and the United Arab Emirates have committed to maintaining a combined $12.5 billion in deposits with the State Bank of Pakistan (SBP) until September 2027.
These deposits play a crucial role in supporting Pakistan’s foreign exchange reserves and strengthening the country’s external financing position.
