Finance Minister Muhammad Aurangzeb announced that Pakistan is set to receive a $3 billion financial aid package from Saudi Arabia next week. The news comes after detailed discussions with Saudi’s finance minister at the Pakistani Embassy in Washington, as well as a meeting in Islamabad last Friday.
Aurangzeb revealed that the support will be provided through additional deposits, and noted that Pakistan has already made $1.4 billion in payments this week. All external obligations are expected to be met on time, he added.
The finance minister also stated that the $5 billion Saudi deposit facility would transition from an annual rollover arrangement to a three-year term, with maturity set for 2028 instead of yearly renewal. He expressed gratitude to the Saudi government and Crown Prince Mohammed bin Salman for their ongoing support.