Musadik Malik, the Minister of State for Petroleum has confirmed that Saudi Arabia will be investing $24 billion in Pakistan. The investment opportunities include agriculture, energy, and information technology sectors.
Moreover, Finance Minister Senator Ishaq Dar declared that Saudi Arabia has already deposited $2 billion in the State Bank of Pakistan, providing some relief to the cash-strapped country facing challenges such as high inflation, dwindling foreign direct investment, debt restructuring problems, and foreign exchange reserves.
According to the statistics, the country’s foreign exchange reserves held by the State Bank of Pakistan stand at $8,153.8 million decreased by $32 million due to debt repayments. While the total reserves have reached $13,463.7, including the reserves held by commercial banks amounting to $5,309.9 million
