ISLAMABAD, Pakistan: The Federal Minister for Finance and Revenue Senator Ishaq Dar has said that the State Bank of Pakistan has received US$ 2 billion of deposits from the Kingdom of Saudi Arabia.
State Bank of Pakistan (SBP) has received deposit of $2 billion from the Kingdom of Saudi Arabia. This inflow has increased the forex reserves held by SBP and will accordingly be reflected in the forex reserves for the week ending 14July2023.
— Ishaq Dar (@MIshaqDar50) July 11, 2023
In a televised message on Tuesday, the minister said that the friendly Country had made a commitment in this regard in the recent past.
Ishaq Dar said that these deposits have enhanced the Country’s foreign exchange reserves from US$ 9.67 billion to US$ 11.67 billion.
On behalf of the people and government of Pakistan, the finance minister thanked the Saudi leadership especially King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman Al Saud for always standing by Pakistan in difficult times.
On behalf of
PM @CMShehbaz,
COAS @_GenAsimMunir, myself @MIshaqDar50 and the People of Pakistan,
I extend our heartfelt thanks to the leadership of Kingdom of Saudi Arabia for their great gesture and support by placing said deposit of $2 billion with State Bank of Pakistan!— Ishaq Dar (@MIshaqDar50) July 11, 2023
The finance minister said that the Saudi leadership has always proved to be true brothers of Pakistan.
Senator Ishaq Dar said that the Country will witness more positive developments in the days ahead and it will now move towards growth trajectory.
PM Shahbaz Sharif expresses deep gratitude to Saudi Arabia
In his statement, Prime Minister Shahbaz Sharif also on behalf of the people of Pakistan extended my deep gratitude to the leadership and brotherly people of the Kingdom of Saudi Arabia for the US$ 2 billion deposit with the State Bank of Pakistan.
“I would like to especially thank my brother Saudi Crown Prince & Prime Minister His Royal Highness Mohammed bin Salman for ensuring this financial support to Pakistan,” he said.
The prime minister said that the US$ 2 billion deposit by Saudi Arabia will strengthen Pakistan’s foreign exchange reserves.
“It reflects the growing confidence of our brotherly Countries and the international community in Pakistan’s economic turnaround,” he said.
The prime minister said that we remain committed to making all necessary efforts to improve Pakistan’s economy.
Shahbaz Sharif also appreciated and thanked the Finance Minister Ishaq Dar and the Chief of Army Staff (COAS) General Syed Asim Munir for the valuable efforts they have made in this regard.
