According to The News International, one of the largest English language newspapers in Pakistan, the Imran Khan-led regime ideally requires gross external financing of $51.6 billion within a two-year period (2021-2023) in order to fulfill its needs.Īlso Read | Pakistan in deep economic crisis. It was reported by the Hindustan Times earlier this month that Pakistan is facing a deep economic crisis, its biggest one in history. “This will help ease pressures on our trade and forex accounts as a result of global commodities price surge,” Azhar said as he shared the news. The news was later confirmed by Pakistan's information and energy minister Hammad Azhar. According to Geo News, the announcement was made by the Saudi Fund for Development, which said that not only was it depositing $3 billion in the State Bank of Pakistan (SBP) but also had issued an official directive to supply $1.2 billion to finance Pakistan's oil products trade during the year. Later on Tuesday, the Saudi prince announced that it was depositing $3 billion in Pakistan's central bank to help the cash-strapped country with the foreign reserves.
Imran Khan had on Monday met Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud on the sidelines of the Middle East Green Initiative (MGI) summit in Riyadh, which he was invited to attend at the royalty's invitation. KSA has always been there for Pak in our difficult times incl now when world confronts rising commodity prices.- Imran Khan October 27, 2021 I want to thank HRH Prince Mohammad bin Salman for supporting Pak with $3 bn as deposit in Pak's central bank & financing refined petroleum product with $1.2 bn. KSA has always been there for Pak in our difficult times incl now when the world confronts rising commodity prices.” Taking to his official handle on Twitter, Pakistan's prime minister Imran Khan wrote, “I want to thank HRH Prince Mohammad bin Salman for supporting Pak with $3 bn as deposit in Pak's central bank & financing refined petroleum product with $1.2 bn. Noting that Saudi Arabia “has always been there” for Pakistan during its difficult phase, Khan expressed his gratitude and noted that at a time when the world confronts rising commodity prices, Saudi generosity did not fail its fellow Muslim ally as the country deposited $3 billion in Pakistan's central bank and financed refined petroleum products with $1.2 billion. After Saudi Arabia sent $3 billion in financial aid to cash-strapped Pakistan for tiding over the ongoing economic crisis, Pakistani prime minister Imran Khan on Wednesday thanked Saudi Prince Mohammad bin Salman for extending the helpful gesture in these “difficult times”.
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