Islamabad, Saudi Arabia has agreed to extend the term of its three billion dollars deposit with Pakistan, in a move aimed at bolstering the country’s economy. The State Bank of Pakistan announced that the Saudi Fund for Development has extended the deposit’s term, initially set to mature on the 5th of next month, for an additional year.
According to Ministry of Information and Broadcasting, this amount has been deposited on behalf of the Government of Pakistan and is part of Saudi Arabia’s ongoing support for the country. This extension is expected to help maintain Pakistan’s foreign currency reserves and contribute to the nation’s economic growth.
ZCZC