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Pakistan to receive $2 billion from Saudi Arabia in “seven working days”

Muhammad Jawad Sohrab Malik, the Special Assistant to the Prime Minister (SAPM), and Nawaf bin Said Al-Malki, the Kingdom of Saudi Arabia’s ambassador to Pakistan, recently met in Islamabad to talk about fostering bilateral cooperation between the two nations.

Jawad expressed his appreciation for Saudi Arabia’s continued support of Pakistan at the meeting. He thanked the envoy for assuring him that the $2 billion pledged by the Kingdom would be deposited in the SBP account within the following seven working days. Both parties expressed a desire to deepen their bilateral ties with Saudi Arabia and Pakistan.

The SAPM emphasized the value of Saudi Arabia’s aid and claimed that Pakistan will benefit from the $2 billion loan in overcoming its current financial difficulties.

He explained that doing so would open the door to obtaining comparable guarantees from friendly nations as well as the IMF, including the United Arab Emirates, Qatar, and others, which would result in the long-awaited staff-level agreement (SLA) with the IMF and open the door to multilateral disbursements.

The commitment of the Kingdom to developing long-term, sustainable investment transactions between Saudi Arabia and Pakistan were stressed by Nawaf bin Said Al-Malki. In the next years, he reaffirmed Saudi Crown Prince Mohammed bin Salman’s commitment to increasing Saudi investments in Pakistan’s energy and IT sectors to $10 billion.

The Saudi envoy expressed a strong desire on behalf of the Saudi government to hire more Pakistani workers this year and the following year for a variety of positions around the kingdom. According to him, the Saudi labor market is still growing, largely as a result of the start of numerous massive initiatives under Saudi Vision 2030.

Pakistan has a lot to offer in both the goods and services sectors, the SAPM said while underlining the country’s diverse economic ecosystem. It stands to gain significantly from exports to the Gulf. He praised the Kingdom’s commitment to giving Pakistani workers better employment possibilities in its upcoming development projects, as well as the significant contributions made by Saudi FDI in enhancing the nation’s economic prospects.

Both dignitaries had good conversations during the meeting about advancing their bilateral commercial ties, hiring more people from Pakistan, and increasing FDI in promising economic sectors. The Saudi Ambassador and SAPM Jawad Sohrab Malik both expressed optimism that their talks will open the door to a new era of more substantial and profound cooperation between Pakistan and Saudi Arabia.

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