Pakistan to Receive Five Billion in Financial Assistance from KSA, Qatar
As stated by reports, the support package comes as Pakistan prepares to repay approximately $3.5 billion in debt owed to the United Arab Emirates by the end of the month, adding further strain to its financial position.
Saudi Arabia has reportedly signaled its willingness to extend financial backing to Pakistan at a time of rising economic pressure and increased regional instability linked to ongoing tensions in the Middle East.
Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan met with Pakistani Prime Minister Shehbaz Sharif in Islamabad on Friday evening. The meeting was attended by senior officials, including Pakistan’s Foreign Minister Ishaq Dar and Chief of Army Staff Asim Munir.
Discussions reportedly centered on strengthening economic cooperation as well as addressing broader regional developments, including reported strains in relations between Saudi Arabia and the UAE.
According to reports, Pakistan has also requested additional financial measures, including an expansion of existing deposit arrangements and an extension of its oil financing facility, which is nearing expiry.
While no formal agreement was announced during the meetings, officials indicated that discussions on financial assistance had already been underway between the respective finance ministries of the countries involved.
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