Pakistan Gets $2 Billion Financial Assistance From UAE, Saudi Arabia
New Delhi: Pakistan on Friday received a $1 billion (Rs 7,259 crore) financial assistance from Saudi Arabia, a day after the United Arab Emirates (UAE) deposited $1 billion to State Bank of Pakistan’s Account. The financial support package from Saudi Arabia is the third installment to help Pakistan to deal with balance-of-payout crisis.
The UAE’s fund installment is the first of three in a $3 billion (Rs 21,777 crore) financial assistance package to support Islamabad’s “financial and monetary policy”.
Dawn had reported that in October 2018, Saudi Arabia had announced a $6 billion (Rs 43,554 crore) bailout package for Pakistan comprising $3 billion in foreign currency support and another $3 billion in deferred payments on oil imports to help the country.
While presenting a mini-budget in the Parliament on Wednesday, Pakistani Finance Minister Asad Umar said the government may also consider getting an International Monetary Fund-led programme bilateral assistance.