The Prime Minister says once again, Saudi Arabia has played the role of an elder brother, and manifested its unprecedented love for Pakistan.
ISLAMABAD: (UrduPoint/Pakistan Point News-Dec 3rd, 2022) Prime Minister Shehbaz Sharif has thanked the leadership and government of Saudi Arabia for extending the term of the deposit of three billion Dollars with the State Bank of Pakistan.
Welcoming the gesture, he particularly thanked Saudi Prime Minister and Crown Prince Mohammed bin Salman Al Saud and said Pakistan greatly values his love for Pakistan.
The Prime Minister said once again, Saudi Arabia has played the role of an elder brother, and manifested its unprecedented love for Pakistan.
He said the extension in term for the deposit of three billion dollars would help improve Pakistan’s economic situation.
Shehbaz Sharif said the country’s economic independence is the government’s top agenda which requires political stability and the Charter of Economy.
On Friday, Saudi Arabia extended the term of three billion dollars deposit in the State Bank of Pakistan through the Saudi Fund for Development to support Pakistan's economy.
The extension of the deposit period is a continuation of the support provided by the Government of Saudi Arabia to Pakistan.
The purpose of the deposit is to augment the foreign Currency reserves in the bank and help Pakistan deal the economic impact caused by COVID-19.
Following the royal directives and reflecting the continuation of close relations between the two countries, the Saudi Fund for Development signed a three billion dollars deposit agreement with the State Bank of Pakistan in November last year.