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.
Pakistan has suspended new regasified liquefied natural gas connections amid a worsening gas crisis. The…
The military leadership emphasized restraint and avoidance of escalation amid heightened tensions in the region.…
Coinbase announced on Tuesday the reduction of 700 jobs, or about 14% of its workforce,…
US Defense Secretary Pete Hegseth confirmed on Tuesday that the US operation in the Strait…
Karachi: FrieslandCampina Engro Pakistan Limited (FCEPL), a leading multinational in the dairy and nutrition sector,…
Pakistan Launches 'Battle of Truth' Book ISLAMABAD - The Ministry of Information and Broadcasting hosted…
This website uses cookies.
