ISLAMABAD: Pakistan Prime Minister Imran Khan visited the Kingdom looking for financial assistance from the Saudi leadership to ease the financial crisis the country is facing.
Saudi Arabia has agreed to give Pakistan $3 billion in foreign currency support for a year and a further loan worth up to $3 billion in deferred payments for oil imports to help stave off a current account crisis.
The $6 billion total exceeds will likely reduce the size of bailout package from the International Monetary Fund (IMF).
The prime minister also spoke at a global investment conference organised by Crown Prince Mhammad Bin Salman where hundreds of investors were present looking for the potential opportunities to tap. The session, according to some media reports, was specially planned to showcase Pakistan as investor's paradise.
The outcomes also endorsed Pakistan's importance for the Saudi Arabia and it's leadership.
Here are the details of what the visit has achieved:
"Musharraf was a great person , Pakistan first was his theory and vision," says Fawad Chaudhry
"If we listen to IMF, then inflation goes up, and if we don’t then Pakistan comes to brink of default," says PML-N...
Army chief to address 5th joint UK-Pakistan stabilisation conference at Wilton Park between February 5-8
Gen Pervez Musharraf took power via bloodless coup in 1999
Special plane carrying body of ex-army chief will land in Rawalpindi today , say diplomatic officials
President Alvi calls upon world to hold India accountable, PM Shehbaz urges India to hold its commitment to UN