Prince Muhammad Bin Salman ordered the Country’s Financial Institutes to expand the Deposits and Investments up to 15 billion dollars to better the economy of Pakistan.
The KSA’s embassy confirms the news that the Saudi government will enhance their deposits to 5 billion dollars in the State Bank of Pakistan and also invests 10 billion dollars in the country. This sudden decision comes out after talks between the heads of both countries.
KSA development fund is now studying to expand their deposits in the country’s central bank to 5 billion dollars which were previously 3 billion dollars. The fund will determine the plan to invest about 10 billion dollars in the country, which previously announced 1 billion dollars last year.
The economist says that the Saudi government’s monetary expansion helps Pakistan to put aside the country’s default. It also increases the trust of other investors around the world that Pakistan’s economy is going to be stable in a couple of months.
Kingdom of Saudia Arabia always stands side by side with Pakistan in its hard times and boosts the economy of the country by making these types of decisions. In August 2022, Pakistan got a 1-billion-dollar investment pledge from the Kingdom to meet the economic difficulties.
Yesterday, at Geneva’s Climate Resilient Pakistan Conference, Pakistan pledged 8.5 billion dollars from the world community, and now the announcement of Prince Muhammad Bin Salman regarding the investment of 10 billion dollars will put the economy on the right way.
