The extension of the term of the deposit is a continuation
of the support provided by Saudi Arabia to Pakistan, as the deposit aims to
shore up the foreign currency reserves in (SBP) and help Pakistan in facing the
economic repercussions of the COVID-19 pandemic.
This also contributes to meeting external sector challenges
and achieving sustainable economic growth for the country.
It is worth noting that the US$3billion deposit agreement
was signed through the Saudi Fund for Development (SFD) with SBP in November
2021.
The issuance of the royal directive reflect the continuation
of the close relationship between the two countries.
