Saudi Arabia has once again come forward to help Pakistan, which is suffering from a crippling economy and inflation. The Saudi Fund for Development on Tuesday announced a deposit of USD 3 billion in Pakistan's central bank. Not only this, but Saudi Arabia will also supply $ 1.2 billion of oil to Pakistan with deferred payment.
Imran Khan thanks Saudi Prince
Pakistan Prime Minister Imran Khan has thanked Saudi Crown Prince Mohammed bin Salman for this help. Imran Khan tweeted, 'I would like to thank Prince Mohammed bin Salman for depositing $3 billion in Pakistan's central bank and financing $1.2 billion of refined petroleum products. KSA has always been there for us in our tough times. Even now when the world is facing rising commodity prices.
Imran Khan met the Crown Prince
Imran Khan was on a tour of Saudi Arabia from 23 to 25 October. Imran attended the opening ceremony of the Middle East Green Initiative (MGI) conference here. Imran also met Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud on the sidelines of the Middle East Green Initiative Summit in Riyadh on Monday. Immediately after this meeting, aid has been announced from Saudi Arabia.
second big package
This is the second major financial aid package that Saudi Arabia has given to Pakistan in the last three years. Earlier in 2018, Saudi Arabia had given a financial package of USD 6 billion to Pakistan. Of this, $3 billion was in deposits with the State Bank of Pakistan and the remaining $3 billion was in the form of oil supplies on deferred payments on an annual basis.
Pak had to return 2 billion dollars
Due to deteriorating bilateral ties, Pakistan had to return $2 billion out of deposits of $3 billion. Last year, relations between the two countries soured when Saudi Arabia refused to take any action against India on the issue of abrogation of Article 370 from Jammu and Kashmir. Pakistan's Foreign Minister Shah Mehmood Qureshi gave a stern warning to Saudi Arabia regarding this.
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