Finance Minister Muhammad Aurangzeb has said that a $3 billion financial support package from Saudi Arabia is expected to be received by Pakistan next week.
Speaking at the Pakistani Embassy in Washington, he said he had detailed discussions with Saudi Arabia’s finance minister earlier, adding that a similar meeting had also taken place in Islamabad last Friday.
Aurangzeb said the Saudi finance minister had clearly confirmed that the $3 billion support would be provided in the form of additional deposits.
He also noted that Pakistan had made $1.4 billion in payments over the past week, adding that all external obligations would be met on time.
The finance minister stated that a $5 billion Saudi deposit facility would be extended from an annual rollover arrangement to a three-year term, pushing its maturity to 2028 instead of requiring yearly renewal.
Aurangzeb expressed gratitude to the Saudi government, as well as Crown Prince Mohammed bin Salman and the Saudi finance minister, for their continued support.
