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.
“After ISMO’s operationalisation, consumers will be able to buy electricity like shares,” says Leghari
Malpractices are widespread with most entities claiming excess input tax, says FinMin citing FBR report
Premier says move will annually save consumers Rs60bn while creating fiscal space of Rs411bn
Investment minister says Pakistan has stabilised its economy quickly
MoUs worth $2 billion likely to be signed between Islamabad and Riyadh during the official visit
The new operator will allow consumers to purchase electricity from suppliers other than distribution companies