Oct 28, 2021, 5:25 PM IST
Days after Pakistan Prime Minister Imran Khan held talks with Saudi Arabia's Crown Prince Mohammad bin Salman in Riyadh, the Kingdom on Wednesday (October 27) announced a $4.2 billion aid to the cash-strapped country. The monetary relief assistance would be for one year.
Saudi Arabia's announcement supports Pakistan with 3 billion US dollars as deposit in Pakistan central bank and also financing refined petroleum products with 1.2 billion US dollars during the year.
Pakistan PM Imran Khan thanked Crown Prince Salman for the generous aid at a time when the country's economy was facing difficulties.
“I want to thank HRH Prince Mohammad bin Salman for supporting Pak with $3 bn as deposit in Pak's central bank & financing refined petroleum product with $1.2 bn. KSA has always been there for Pak in our difficult times incl now when world confronts rising commodity prices (sic),” the Pakistan prime minister said on Twitter.
The Pakistani currency has depreciated around 13.6 per cent since May.