US$3 bn to be transferred from Saudi Arabia in week: Fawad Chaudhry

ISLAMABAD: Information Minister Fawad Chaudhry Thursday announced that the promised amount of US$3 billion from Saudi Arabia will be transferred this week, ARY NEWS reported.

In a message from his Twitter handle, Fawad Chaudhry said that there are three good news including the culmination of nationwide strike call from the petroleum dealers association, and Saudi Arabia resuming direct flights from Pakistan.

تین اچھی خبریں 1) پٹرولیم ڈیلرز ایسوسیشن ایشن نے ہڑتال ختم کر دی 2) سعودی عرب نے پاکستان سے براہ راست فلائٹس شروع کرنے کا اعلان کر دیا 3) سعودی عرب سے تین ارب ڈالر کی ٹرانسفر میں تمام قانونی معاملات طے ہوگئے اور یہ ڈالر اس ہفتے پاکستان کو مل جائینگے

— Ch Fawad Hussain (@fawadchaudhry) November 25, 2021

He further shared that legal formalities regarding the transfer of US$3 billion promised by Saudi Arabia have also been finalized and the amount would be transferred to Pakistan in the ongoing week.

Advisor to the Prime Minister on Finance Shaukat Tarin said that the finance minister of Saudi Arabia has promised to keep US$3 billion with the State Bank of Pakistan and $1.2 billion deferred oil facility.

“Kingdom of Saudi Arabia to place US$3bn with SBP & a $1.2bn deferred oil facility to help the balance of payment of Pakistan,” Shaukat Tarin said in a tweet earlier today.

The finance advisor has termed the bid a “generous gesture” on the part of the Kingdom of Saudi Arabia. He expressed gratitude for the “kind gesture” that he said will help the balance of payment of Pakistan.

Prime Minister Imran Khan also thanked Crown Prince Mohammed bin Salman following the Saudi Arabian “generous gesture” of depositing $3 billion in the Pakistani central bank to support the country’s foreign exchange reserves.