Dar thanks Saudi Arabia on extending term of US$ 3-bln deposit in SBP

ISLAMABAD: Ambassador of Kingdom of Saudi Arabia to Pakistan Nawaf Bin Said Al-Malki, called on the Federal Minister for Finance and Revenue, Muhammad Ishaq Dar here at Finance Division on Wednesday.

The Finance Minister extended warm welcome to the Ambassador and highlighted the historical, religious, cultural and long-standing bilateral ties between Pakistan and Saudi Arabia. It was shared that both of states enjoy exceptional relationship on various fronts including economy and trade. The Finance Minister apprised the Ambassador about the ongoing post-flood reconstruction and rehabilitation program.

Ishaq Dar thanked the Ambassador on extending the term of US$ 3-billion deposit in State Bank of Pakistan (SBP) by Saudi Fund for Development (SFD). He also thanked Saudi Fund for Development for their valuable investments in different sectors of Pakistan’s economy.

Nawaf Bin Said Al-Malki acknowledged the long-term relationship and shared that Kingdom of Saudi Arabia aims at further deepening the economic and commercial ties with Pakistan. In conclusion, the Finance Minister expressed gratitude toward Kingdom of Saudi Arabia for continuous support and cooperation with Pakistan.