Pakistan Prime Minister Shahbaz on Saudi tour (Photo- PMO Pakistan)
In the midst of the Middle East war, Saudi Arabia has put a big alms in Pakistan’s bowl. This is not a small begging. In fact, Pakistan’s currency is worth Rs 84 thousand crores. According to local media reports, Saudi Arabia has promised to provide additional financial assistance of $3 billion to Pakistan and also extended the existing facility of $5 billion for three years. This assistance has been received at such a crucial juncture when Islamabad is preparing to repay $3.5 billion to the United Arab Emirates (UAE) this month and its foreign exchange reserves are under pressure.
Promise to give 3 billion dollars
‘Dawn’ quoted Finance Minister Muhammad Aurangzeb in Washington as saying that Saudi Arabia has promised to give additional $ 3 billion as deposit to Pakistan, which is about Rs 84 thousand crore in Pakistani rupees. It has also extended its existing $5 billion facility for the next three years. He further said that Saudi Arabia’s existing deposits of $5 billion will no longer be subject to the annual rollover arrangement as before, but will be extended for a longer period. This announcement has come at a time when Prime Minister Shehbaz Sharif is expected to go on an official visit to Saudi Arabia, Qatar and Türkiye between April 15 and 18.
Foreign exchange reserves will get help
‘Geo News’, while talking to journalists during the World Bank-IMF Spring Meetings 2026 in Washington, quoted Aurangzeb as saying that this new assistance from Saudi Arabia has come at an important time for Pakistan’s external funding needs. This will help in strengthening foreign exchange reserves and strengthening the external account. The IMF has stipulated that Pakistan’s three major bilateral creditors – Saudi Arabia, China and the UAE – will maintain their cash deposit amounts in the country till the completion of the ongoing three-year programme. According to the report, Aurangzeb said the government is committed to maintaining reserves in line with its market obligations and targets under the IMF-supported programme.
