Fiscal terms and relevant facilities: KSA assures Pakistan of fulfilling pledges

ISLAMABAD: Saudi Arabia has assured Pakistan that it will fulfill all pledges it has made with Islamabad in fiscal terms and on providing relevant facilities. The assurance was given by Saudi Ambassador to Pakistan Nawaf Bin Said Al-Malki on Thursday.

Talking to the official wire service, he said the committed amount would soon be disbursed in the shape of cash deposit to Pakistan under the pledged financial assistance after approval of the Royal Court and signing of a Memorandum of Understanding (MoU) in a few days.

He maintained that it would be done soon, adding the deferred oil payment facility would also be made available to Pakistan as per commitment.

Saudi Arabia recently announced to provide Pakistan $3 billion as a cash deposit to the State Bank to address its balance-of-payments crisis. The Kingdom had pledged a one-year deferred payment facility for the import of oil, worth up to $1.2 billion.

Ambassador Nawaf Bin Said Al-Malki reminded that the Saudi government considered Pakistan as a dear country with a very deep and strong relationship. The Kingdom always stood with Pakistan and extended support to it on multiple occasions and the relationship with Pakistan has throughout been positive regardless of any government in power. “Our connection is with the Pakistani flag and we consider it our brotherly country. Pakistan has a very bright future.”

The Saudi envoy said the people of Pakistan love the Kingdom of Saudi Arabia from the core of their hearts and the Custodian of the Two Holy Mosques is held in high esteem.

Ambassador Nawaf Bin Said Al-Malki said the people of his host country are very friendly and deserve a lot of good in their lives. From the JF-17 fighter aircraft to thousands of factories in Faisalabad, he said, there are a lot of positive things to be proud of and thus to show to the world as the image of the real Pakistan. He wished Pakistan the best of stability, progress, and prosperity.