Saudi Crown Prince Mohammed bin Salman has pledged $3 billion in financial support to Pakistan. The amount will be deposited directly into the State Bank of Pakistan to help strengthen the country’s foreign exchange reserves.
This timely support comes after another Gulf country (widely reported as the UAE) withdrew over $3 billion from Pakistan’s reserves. Saudi Arabia has stepped in quickly to replace the outflow and prevent any pressure on Pakistan’s external account.
Pakistan already holds around $5 billion in existing Saudi deposits, and this new pledge further strengthens the financial partnership between the two countries.
Officials in Islamabad have described the move as a “personal gesture” and a strong sign of trust and brotherhood between Saudi Arabia and Pakistan. The deposit will help maintain economic stability, support the rupee, and keep Pakistan’s foreign reserves at a comfortable level.
Prime Minister Shehbaz Sharif is expected to visit Saudi Arabia soon to personally thank Crown Prince Mohammed bin Salman. During the visit, both sides are also likely to discuss further economic cooperation and regional diplomatic matters.
This generous support highlights the deep and longstanding strategic ties between the two nations. Saudi Arabia has consistently helped Pakistan during difficult economic times.
The fresh $3 billion pledge is expected to boost investor confidence and provide breathing space as Pakistan manages its debt obligations and works towards long-term economic growth.
