PM Shehbaz Sharif thanks Saudi Prince Salman for taking steps in direction of boosting Pakistan’s economic system

PM Shehbaz Sharif thanked Saudi Prince Mohammed bin Salman for taking steps in direction of boosting the economic system of Pakistan

New Delhi,UPDATED: Jan 11, 2023 14:27 IST

Pakistan Prime Minister Shehbaz Sharif (File picture)

By India Today Web Desk: Pakistan Prime Minister Shehbaz Sharif expressed gratitude in direction of Saudi Arabian Crown Prince Mohammed bin Salman for supporting Resilient Pakistan (a step taken by the Pakistan authorities and the United Nations to carry collectively worldwide donors to help the individuals and the Pakistan authorities after the devastating floods of 2022) and asserting one billion {dollars} for it.

The Pakistan PM additionally thanked the Saudi prince for his determination to think about rising funding as much as 10 billion {dollars} and depositing 5 billion {dollars} into the Pakistan central financial institution.

READ: Pakistan get $9 billion in donation for flood restoration

“Pakistan sincerely thanks HRH Crown Prince Mohammed Bin Salman for Saudi Arabia’s generous announcement of $1 billion @ Resilient Pakistan. We are immensely grateful for his decision to consider increasing Saudi investment up to $10 billion & deposits with SBP to $5 billion,” wrote Shehbaz Sharif on Twitter.

Pakistan sincerely thanks HRH Crown Prince Mohammed Bin Salman for Saudi Arabia’s beneficiant announcement of $1 billion @ Resilient Pakistan. We are immensely grateful for his determination to think about rising Saudi funding as much as $10 billion & deposits with SBP to $5 billion 🇵🇰 🇸🇦
— Shehbaz Sharif (@CMShehbaz) January 11, 2023

INVESTMENT IN PAKISTAN

Saudi Arabia on Tuesday stated it might improve its investments within the cash-strapped Pakistan economic system to $10 billion in addition to improve the ceiling on deposits into the Pakistan central financial institution to $5 billion, reported the information company Reuters.

Crown Prince Mohammed bin Salman has directed a research to extend Saudi Arabian investments to $10 billion, from the earlier $1 billion introduced in August.

READ: Onion 500% costly, rooster costs sky-high: How dire is Pakistan’s inflation?

He has additionally requested the Saudi Development Fund (SDF) to think about elevating the ceiling for Saudi deposits into the Pakistan central financial institution as a part of measures to help the struggling economic system.

RESILIENT PAKISTAN

Prime Minister Shehbaz Sharif co-hosted the International Conference on Climate Resilient Pakistan in Geneva on January 9. The objective was to marshal worldwide help to rehabilitate the inhabitants affected by tremendous floods and reconstruct broken infrastructure in a climate-resilient method.

Pakistan on Monday raised greater than 9 billion {dollars}, a billion greater than requested, reported The Dwan.

Taking to Twitter, Foreign Minister of Pakistan, Bilawal Bhutto Zardari stated, “Good news. #ResilientPakistan conference has exceeded expectations. international community has united in solidarity with Pakistans flood victims & pledged 9 billion dollars for recon. , rehab. & relief. We are particularly grateful to @antonioguterres for his leadership”.

Published On:

Jan 11, 2023