Pakistan Secures $3 Billion Saudi Support to Boost Reserves
ISLAMABAD (Afghan Verified) — Pakistan has secured $3 billion in financial support from Saudi Arabia to strengthen its foreign exchange reserves, Finance Minister Muhammad Aurangzeb said.
The funds are expected to be disbursed within days to help offset a repayment due to the United Arab Emirates, Aurangzeb told reporters in Islamabad. He noted that Pakistan's current reserves cover only about three months of imports amid ongoing external pressures.
In addition, Saudi Arabia has extended its existing $5 billion deposit to Pakistan without the previous rollover conditions, the finance minister added.
The support comes after high-level meetings in Islamabad between Aurangzeb and Saudi Finance Minister Mohammed Al-Jadaan. Discussions focused on stabilizing Pakistan's economy and enhancing bilateral ties.
Pakistan and Saudi Arabia have also deepened their defense cooperation, including military coordination and joint deployments under a mutual security pact, according to officials.
The financial assistance is aimed at bolstering Pakistan's reserves at a critical time, as the country faces balance-of-payments challenges and seeks to avoid further economic strain.
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