Saudi Arabia Deposits $2b with SBP

Saudi Arabia deposits $2 billion with the State Bank of Pakistan (SBP), an instrument to secure the deal with the IMF.

Prime Minister thanks Saudi Crown Prince for deposit of $2 billion with SBP.

Saudi Ambassador Calls on the Prime Minster.

Nawaf bin Saeed Ahmad Al-Malkiy, Ambassador of Kingdom of Saudi Arabia called on Prime Minister Muhammad Shehbaz Sharif in Islamabad today.

The Prime Minister thanked the Saudi leadership for their generous and unwavering support for Pakistan, which, he said, was particularly instrumental in securing the deal with the IMF.Saudi Fund Pledges $240M for Pakistan’s Mohmand Dam

The PM asked the Ambassador to convey his special gratitude to Crown Prince and Prime Minister HRH Mohammed bin Salman for the deposit of $2 billion dollars with the State Bank of Pakistan.

The Prime Minister apprised Ambassador Nawaf about the formation of Special Investment Facilitation Council (SFIC) to facilitate and fast-track potential investments from GCC member states, including the Kingdom of Saudi Arabia. He emphasized that mutually rewarding Pakistan-Saudi cooperation in key areas including IT, energy, infrastructure and labour must be fast-tracked and augmented.

Ambassador Nawaf, while expressing satisfaction on the current trajectory of bilateral relations between the two brotherly countries, noted that Pakistan and Saudi Arabia were bound in a fraternal relationship marked by mutual trust and understanding, close cooperation, and an abiding tradition of supporting each other through thick and thin.

The Prime Minister reiterated that Pakistan eagerly looked forward to the visit of His Royal Highness Mohammed Bin Salman, Crown Prince and Prime Minister to Pakistan at his earliest convenience.