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Pakistan to pay 1 billion dollar to Saudi Arabia next week

Pakistan and China are considering resuming the currency swap deal soon, while Pakistan will pay 1 billion dollars to Saudi Arabia next week.

According to Finance Ministry sources, China will provide 1.5  billion dollars to Pakistan under the currency swap agreement.

There are mutual agreements between Pakistan and China. Pak-China cannot share details of the agreements.

Sources said that Pakistan would pay  1 billion dollars to Saudi Arabia next week.

It may be recalled that in October 2018, a Memorandum of Understanding was signed between the then Finance Minister Asad Omar and the Saudi Finance Minister Muhammad Abdullah Al-Jadan, according to which, Saudi Arabia has agreed to deposit 3  billion dollars  in Pakistan’s account for one year with the aim of maintaining the balance of payments.

The money was then transferred to Pakistan in installments.

Namra

I am Namra Ijaz. I have done my Masters in Sociology from Quaid-i-Azam university Islamabad. Worked as a content writer at Zemtv.co and other websites. Flexible writer for variety of content on web and other platforms. Efficient in article and news writing.

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