Islamabad : Khurrum Shahzad , advisor on Finance ministry , on Thursday said in his
message that Kingdom of Saudi Arabia (KSA) has extended the term for USD 3.0 billion deposit placed with Pakistan in support of Pakistan’s economy.
The Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia has extended the term for the deposit of USD 3.0 billion maturing on 08 December 2025 for another year.
The said amount has been placed with the State Bank of Pakistan (SBP) on behalf of Islamic Republic of Pakistan.
The extension of the term of the deposit is continuation of the support provided by the Kingdom of Saudi Arabia to the Islamic Republic of Pakistan, which will help in strengthening the foreign exchange reserves of Pakistan and contribute to the country’s economic growth and development.
It is worth noting that the USD 3.00 billion deposit was initially placed with SBP in the year 2021 and subsequently rolled over since then.