Support package affirms that Saudi Arabia has always backed Pakistan, says envoy

ISLAMABAD, Oct 29 (APP):Saudi Arabia’s support package of $4.2 billion for Pakistan’s economy is an affirmation of the close relations between the two countries, Pakistan’s Ambassador to Saudi Arabia Lt. Gen. (R) Bilal Akbar said.

Saudi Arabia pledged the assistance to Pakistan as the Saudi Fund for Development on Wednesday announced the issuance of the royal directive to deposit $3 billion into the State Bank of Pakistan to help the Pakistani government to support its foreign currency reserves and assist it in facing the impact of the coronavirus pandemic.

In addition, the royal directive was issued to finance the oil derivatives trade with a total amount of $1.2 billion during the year.

The SFD said that these royal directives confirm Saudi Arabia’s continued support for the economy of Pakistan.

Commenting on the economic support package, the Pakistan ambassador said “Pakistan-Saudi Arabia relations are very special and are now 75 years old. The relationship is historic, strategic and fraternal, based on common religion and excellent people to people relations,” Arab News reported .

“The Kingdom has always stood with Pakistan and this recent assistance is an affirmation of the same. We look forward to continuing our close cooperation and mutual support in all times to come,” said Akbar.

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