Ashrafi thanks KSA for extending $3bn deposit term

ISLAMABAD: Pakistan Ulema Council Chairman and PM Special Representative on Interfaith Harmony and Middle East Tahir Mahmood Ashrafi has said Pakistan is grateful to Shah Salman bin Abdul Aziz and Crown Prince Muhammad bin Salman as the Kingdom of Saudi Arabia has extended its term for a $3 billion deposit in the State Bank of Pakistan through the Saudi Fund for Development (SFD) in support of Pakistan's economy.

“The Kingdom of Saudi Arabia has always cooperated with Pakistan and the country is grateful to Saudi government and people,” he said in a statement on Friday. He said Saudi Arabia's support in the current situation was an expression of love and trust for the leadership and people of Pakistan. As a result of the meetings held between Prime Minister Shehbaz Sharif and Mohammed bin Salman, it was clear that the investment and cooperation from Saudi Arabia in Pakistan would go up in the coming days. “At the same time, other Islamic countries are also enhancing trade and economic cooperation with Pakistan.”

He hoped that there would be good news in the near future from the UAE, Qatar, Turkey and Saudi Arabia and said the political stability in the country was important and inevitable for the improvement of economic and social values. “All political and religious parties will have to move towards the Pakistan Pact,” he said, adding that Saudi Arabia's cooperation with the government and people of Pakistan had always been there and the Pakistani nation, government and Ulema were grateful to the leadership and people of Saudi Arabia in this regard.