Thursday, June 30, 2022

Pakistan, Saudi Arabia to ink MoU for financial support soon: envoy

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ISLAMABAD: Saudi Arabia will soon transfer the promised amount in the shape of deposits to Pakistan under the pledged financial assistance, the Kingdom’s Ambassador in Islamabad Nawaf Bin Said Al-Malki said.

In an interview with the government wire service, he said a Memorandum of Understanding (MoU) will be signed in a few days for the cash deposits and deferred oil payment facility.

Also Read: Saudi Arabia deposits $3bn in Egypt’s central bank

Saudi Arabia lately announced to deposit $3 billion with the State Bank of Pakistan to address the country’s balance-of-payments crisis. Besides, the Kingdom pledged a one-year deferred oil payment facility.

The envoy said that the Saudi government considered Pakistan as a dear country with a very deep and strong relationship. The Kingdom always stood with Pakistan and extended support to it on multiple occasions, he added.

Also Read: PM Imran Khan thanks Saudi Crown Prince for $3bn support

“Our connection is with the Pakistani flag and we consider it our brotherly country. Pakistan has a very bright future,” he added.

Ambassador Nawaf Bin Said Al-Malki said the people of Pakistan loved the the Kingdom of Saudi Arabia from the core of their hearts and held the Custodian of the Two Holy Mosques in high esteem.

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