“Saudi financial support program will help stabilize economy” – Pakistan

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Published on October 27, 2021 12:38

Tarin said the Saudi package had no connection with the IMF program.

ISLAMABAD (Dunya News) – Financial adviser Shaukat Tarin said the Saudi $ 4.2 billion financial support is for a year and will prove useful, especially when the rupee is under pressure and international oil prices are skyrocketing.

Speaking to a press conference with Energy Minister Hammad Azhar in Islamabad on Wednesday, he said the package includes $ 3 billion in deposits with the State Bank of Pakistan and $ 1.2 billion in deposits with the State Bank of Pakistan. oil supply on deferred payments.

The adviser said that during the talks in Saudi Arabia, Crown Prince Mohammad Bin Salman expressed his happiness to extend his support to Pakistan. He said the Saudi Crown Prince has said Pakistan holds a special place for the Kingdom.

Responding to a question, Shaukat Tarin insisted that the Saudi package had no connection with the IMF program. He was confident that the IMF will also relaunch its Pakistan loan facility, saying it will have a positive impact on our market.

In his remarks, Energy Minister Hammad Azhar said that our oil prices are lower in the world except those that produce oil.

To keep the prices low, he said that we have granted a tax exemption of four hundred and fifty billion rupees.

Hammad Azhar said it is expected that commodity prices will see a downward trend over the next six months and the benefits will be passed on to the masses.


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