Saudi Arabia to Transfer Cash Assistance to Pakistan
Saudi Ambassador Nawaf Bin Sulaiman Al-Malki said earlier, Saudi Arabia would shortly make a cash deposit to Pakistan as part of the promised financial support. The deposit will be made with the permission of the Royal Court and the signing of a Memorandum of Understanding (MoU) in a few days.
In order to alleviate Pakistan’s balance-of-payments issue, Saudi Arabia has said it would deposit $3 billion in cash with the State Bank. In addition, the Kingdom has provided a one-year deferred payment facility worth up to $1.2 billion for oil imports.
According to Al-Malki, the Saudi Arabian administration views Pakistan as a “beloved country” with which it has a very close and strong relationship.
The Saudi ambassador spoke of the friendship between Saudi Crown Prince Mohammed Bin Salman and Pakistani Prime Minister Imran Khan and expressed optimism that the relationship will continue to grow in the future.
When asked about the scope of collaboration between the two countries’ media, he stated that the media’s role in bringing the nations closer was “extremely essential.” From the JF-17 fighter jet to the tens of thousands of factories in Faisalabad, he stated that there was much to be proud of.
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