Saudi Arabia has once again extended its hand to help Pakistan, which is facing economic crisis. Saudi Arabia will invest one billion dollars in Pakistan.

This information has been given by tweeting on behalf of the Ministry of Foreign Affairs of Saudi Arabia.

According to a release issued by the Ministry of Foreign Affairs of Saudi Arabia, "King Salman of Saudi Arabia has given instructions for investment of one billion dollars in Pakistan. He has directed to provide this help to the economic condition of Pakistan and for the people there.''

According to the release, this information was given by the Foreign Minister of Saudi Arabia during a phone conversation with the Foreign Minister of Pakistan on Thursday, August 25, 2022.

Saudi Arabia's Foreign Minister Prince Faisal bin Farhan talks over the phone with Pakistan's Foreign Minister Bilawal Bhutto on Thursday, August 25, 2022.

During this conversation, he informed the Foreign Minister of Pakistan about the instructions of King Salman. At the same time, the two leaders also discussed on promoting bilateral relations. Regional and international issues of common benefit were also discussed between the two leaders.

Saudi Arabia has already helped

Pakistan and Saudi Arabia have strong relations since the inception of Pakistan. Since the 1970s, these relations have strengthened even further.

Whenever Pakistan's economy is in trouble, Saudi Arabia comes forward to help it.

After the fall of Imran Khan's government in Pakistan, Shahbaz Sharif, who became the Prime Minister, did his first foreign tour to Saudi Arabia. During this visit, Prime Minister Shahbaz Sharif had managed to get a relief package of $ 8 billion from Saudi.

Saudi Arabia had deposited three billion dollars in the State Bank of Pakistan in December 2021 under the last loan agreement.

Apart from this, in the year 2021, when Pakistan was in a difficult economic crisis, its rupee was falling against the dollar and foreign exchange reserves were running out, even then Saudi Arabia had stepped forward and helped it.

In October 2021, Saudi Arabia gave financial assistance of $ 4.2 billion to Pakistan. This help was announced during the visit of the then Prime Minister of Pakistan Imran Khan to Saudi. This help was in the form of cheap loans and borrowed oil.

(Click here for Android APP of IBTN. You can follow us on facebook and Twitter)

Share This News

About sharing