Imran Khan, who came to power with the slogan of Naya Pakistan, has spoiled the condition of Pakistan. Pakistan's economy is in disrepair, the people are suffering from inflation and the country is rapidly moving towards poverty, in such a situation Saudi Arabia has come to the fore as a straw for the sinking country. Saudi has given great relief to Pakistan standing on the verge of poverty.
Saudi Arabia has said it is depositing US$3 billion in Pakistan's central bank to help the cash-strapped country with foreign reserves. According to the report of Geo News, the Saudi Fund for Development made this announcement on Tuesday.
The Saudi Fund for Development said it is depositing $3 billion in the State Bank of Pakistan (SBP). Not only this, the statement said that an official directive has been issued, under which $1.2 billion will be given to Pakistan this year to finance trade in oil products. Saudi Arabia has given this relief to Pakistan at a time when the neighboring country is facing economic crisis and its economy is on the verge of bankruptcy.
Pakistan's Information Minister Fawad Chaudhry and Energy Minister Hamad Azhar have confirmed this help to Pakistan from Saudi Arabia. Azhar while sharing the news said that this will help in easing the pressure on our trading and forex accounts as a result of rise in global commodity prices.
Let us tell you that Pakistani Prime Minister Imran Khan met Crown Prince of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud on the sidelines of the Middle East Green Initiative Summit in Riyadh on Monday. Imran Khan was on a visit to Saudi Arabia from 23 to 25 October, where he attended the opening ceremony of the Middle East Green Initiative (MGI) conference in Riyadh. In this way, going to Saudi refuge came in handy for Imran Khan.
Earlier in May, Pakistani Minister Fawad Chaudhry had said that Saudi Arabia has agreed to restart the oil facility for Pakistan on deferred payment. At the same time, Finance Minister Shaukat Tarin had reiterated earlier this month That Saudi Arabia has agreed to provide oil to Pakistan on deferred payment.
Earlier, Saudi Arabia had provided a financial package of USD 6 billion to Pakistan, which included $3 billion in deposits with the State Bank of Pakistan and the remaining $3 billion on an annual basis for deferred payment for oil facilities. Last year, relations between Pakistan and Saudi Arabia had soured at that time. When Foreign Minister Shah Mehmood Qureshi issued a stern warning to Saudi Arabia after refusing to act against India on the Kashmir issue.
