Prime Minister (PM) Shehbaz Sharif and Saudi Crown Prince Mohammed Bin Salman exchanged views to enhance bilateral cooperation between the two countries during a telephonic conversation.
Pakistan and Saudi Arabia have agreed to intensify mutual cooperation in the fields of investment, energy, and trade, Radio Pakistan reported.
According to a Financial Times report, the IMF and Saudi Arabia have also discussed the possibility of Islamabad being able to borrow up to $2.8 billion against Riyadh’s quota of Special Drawing Rights (SDRs) at the Fund after Saudi Arabia’s decision to renew $3 billion deposit at the State Bank of Pakistan.
“Once finalised, Pakistan’s extent of borrowing from the IMF during the present financial year (July to June) will increase by $2.8bn. This will be a very important gesture,” read the report.
On the occasion of the 75th Independence Day of Pakistan, Saudi Arabia’s King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman congratulated the Pakistani nation.
