By S.M Inam
KARACHI: Pakistan has received $2 billion in financial support from Saudi Arabia, according to the central bank. The inflow is expected to strengthen the country’s foreign reserves and support economic stability.
The State Bank of Pakistan confirmed that the funds were received on April 15 from the Saudi Ministry of Finance.
Officials said the deposit forms part of broader financial assistance pledged by Saudi Arabia, which has committed a total of $3 billion in support to Pakistan.
Earlier, Finance Minister Muhammad Aurangzeb had stated that the expected inflow would be received within the week.
He also noted that an existing $5 billion deposit from Saudi Arabia is likely to be extended for three years instead of being rolled over annually, pushing its maturity to 2028.
The latest financial support is seen as a key step in stabilising Pakistan’s external account position and boosting investor confidence.
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