Islamabad (AFB) Pakistan has received another $1 billion in funds from Saudi Arabia. The State Bank of Pakistan confirmed the receipt of $1 billion in funds from the Saudi Ministry of Finance and said that this amount is the second installment of the $3 billion deposit announced by the Saudi government. The Central Bank of Pakistan says that $2 billion has already been received from Saudi Arabia on April 15. Saudi Arabia had assured Pakistan of $3 billion in funds. On the other hand, a few days ago, Finance Minister Muhammad Aurangzeb had said that the $5 billion deposit will also be extended by 3 years instead of annual rollover, and its maturity will go up to 2028 instead of annual rollover. Pakistan last week provided $2 billion to the United Arab Emirates. The deposits were repaid with interest of $450 million, while the UAE’s $1 billion payment is due on April 23.
