By Admin 
Pakistan Saudi Arabia News: Finally the day has come for which Pakistan was waiting for many days. The Central Bank of Pakistan confirmed on Thursday that it has received two billion US dollars from Saudi Arabia. This amount is a part of the three billion dollar aid which was announced a day earlier by Pakistan Finance Minister Muhammad Aurangzeb. This amount received from Saudi Arabia has come as a big relief for Pakistan’s unbalanced foreign exchange reserves.
Saudi became a trouble-shooter for Pakistan
In fact, Saudi Arabia has once again emerged as a ‘troubleshooter’ for Pakistan, which is struggling with economic crisis and falling foreign exchange reserves. This financial assistance has come at an important time when Pakistan is under heavy pressure to repay foreign loans. Finance Minister Muhammad Aurangzeb welcomed this help and called it necessary for the stability of the country.
PM Sharif recently went to Saudi
This assistance was finalized during the recent visit of Prime Minister Shehbaz Sharif to Saudi Arabia. Saudi Arabia has not only provided this new amount, but has also extended its old deposit facility of $5 billion for Pakistan for the next three years. With this, Saudi Arabia has now become the largest investor country with a total amount of $ 8 billion in the Central Bank of Pakistan.
This financial assistance is a big relief for Pakistan, because it has to repay a loan of 3.5 billion dollars to the United Arab Emirates (UAE) this month.
Pakistan’s foreign exchange reserves will get strengthened – expert
Experts believe that this fund received from Saudi Arabia will strengthen Pakistan’s foreign exchange reserves and will support its credibility in the international market to some extent. Prime Minister Shahbaz Sharif has called it a big step towards meeting Pakistan’s external financial needs.
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