As an important expression of brotherly and special relations with Pakistan, Saudi Crown Prince Muhammad bin Salman has given a message of providing a substantial financial assistance of $3 billion as a deposit to Pakistan, which shows Saudi Arabia’s continued commitment to Pakistan’s economic stability.
According to informed sources, the Crown Prince sent the Saudi Arabian Finance Minister to Pakistan on a special short visit a few days ago to convey the Crown Prince’s assurance to the Pakistani leadership that Pakistan need not worry about the potential foreign exchange gap created by the withdrawal of about $3 billion by a Gulf country.
A senior government source said that the sole purpose of the visit was to give a strong assurance to the Pakistani leadership that Saudi Arabia would move forward to fill the gap in Pakistan’s foreign exchange reserves.
The development comes at a time when a friendly Gulf country is withdrawing more than $3 billion of its own money from Pakistan’s reserves. In response, Saudi Arabia has promised to deposit an equivalent amount with the State Bank of Pakistan to ensure that the country’s reserves remain stable.
Officials described the move as an “extraordinary step” by the Saudi leadership, reflecting the strategic trust and strong bilateral ties between the two countries.
It is worth mentioning that the State Bank of Pakistan already has $5 billion in Saudi deposits. According to sources, the Pakistani leadership, whether civilian or military, is extremely grateful for this special and personal gesture by the Saudi Crown Prince.
Meanwhile, Prime Minister Shehbaz Sharif is expected to visit Saudi Arabia soon where he will meet the Crown Prince and express Pakistan’s gratitude for his timely cooperation. During the visit, the Prime Minister will also brief the Saudi leadership on the talks in Islamabad and Pakistan’s diplomatic efforts to facilitate the second round of talks between Iran and the US.
Pakistan is actively trying to bring both sides to the negotiating table and is trying to hold another round before April 22 to transform the current ceasefire into a more sustainable arrangement.
Sources believe that Saudi Arabia’s support and Pakistan’s mediation efforts can together play a constructive role in promoting regional stability.
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