Late Sunday, Prime Minister Muhammad Shehbaz Sharif spoke over the phone with Saudi Crown Prince Mohammed bin Salman.
The two leaders discussed Pakistan-Saudi Arabia’s history. They also discussed ways to improve bilateral cooperation in various fields.
According to Bloomberg, Saudi Arabia intends to renew its $3 billion assistance deposit to Pakistan as the country seeks to control one of Asia’s highest inflation rates and avoid a current-account crisis.
The Saudi Finance Ministry intends to renew its $3 billion deposit with the State Bank of Pakistan as soon as this week, according to people who asked not to be identified because the discussions are private. The kingdom also plans to provide $100 million per month for ten months in petroleum products as additional assistance, according to the people.
PM discuss ways to enhance bilateral cooperation with Saudi Prince
Pakistan’s funding gap has been filled as a result of the kingdom’s commitment, and the assurance will pave the way for the International Monetary Fund’s loan approval at the end of the month.
According to one of the sources, Saudi Arabia has been working with the IMF to ensure Pakistan’s full support. According to one of the sources, the commitment could be announced within the next two days.
Earlier in the day, King Salman bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques, sent a cable congratulating President Dr. Arif Alvi of the Islamic Republic of Pakistan on the anniversary of his country’s independence.
The Custodian of the Two Holy Mosques expressed his heartfelt congratulations and wished the president continued good health and happiness, as well as the government and friendly people of the Islamic Republic of Pakistan’s continued progress and prosperity.
Crown Prince Mohammed Bin Salman, deputy prime minister, and defense minister, also sent a cable congratulating President Dr. Arif Alvi of the Islamic Republic of Pakistan on the anniversary of his country’s independence.
In his cable, the Crown Prince expressed his best wishes and wished the President continued good health and happiness, as well as the government and friendly people of the Islamic Republic of Pakistan continued progress and prosperity.
