Saudi Arabia has approved a $1 billion oil financing facility for Pakistan, amounting to nearly Rs290 billion, further strengthening its economic partnership with Islamabad. Official sources confirmed that the financial package is part of Riyadh’s continued support to stabilize Pakistan’s economy and assist in meeting its energy import needs.
In addition to this new facility, Saudi Arabia will also roll over $5 billion in existing deposits currently held with the State Bank of Pakistan (SBP), ensuring crucial liquidity support and easing pressure on Pakistan’s foreign exchange reserves. The development underscores the deepening economic cooperation between the two nations amid Pakistan’s ongoing efforts to maintain financial stability.
