ISLAMABAD: Pakistan has received second tranche of $1 billion Saudi aid, Geo News reported citing sources in the Finance Minister on Friday.
Pakistan's foreign reserves soared to $8.26 billion with transfer of money which Saudi Arabia had pledged to help Pakistan overcome balance of payment crisis.
The State Bank of Pakistan in November confirmed receiving first installment of the aid package.
Prime Minister Imran who visited the kingdom in October had said that Riyadh agreed to give $12 billion package to Pakistan.
During his visit, finance ministers of both the countries signed an MoU under which Saudi Arabia would deposit $3 billion in Pakistan's account of which Islamabad has now received $2 billion.
Experts say the Saudi aid would ease pressure on Pakistan's foreign reserve and strengthen Pakistani rupee against US dollar.
Neom is a $500bn project in which Saudis plan to build a city in a straight line and run it using renewable energy
“Foreign exchange reserves will rise to $9-10 billion by June,” hopes finance minister
Annual EGM was attended by key stakeholders, including the Federal Secretary, Aviation Secretary, legal advisers,...
Robert Kiyosaki is the author of "Rich Dad, Poor Dad"
Aurangzeb apprises his Chinese counterpart about Islamabad entering into new programme with IMF
PM pays tribute to COAS Gen Asim Munir for his full cooperation to curb menace of smuggling