A spokesperson from the State Bank of Bank (SBP) confirmed that the country has received $1 billion out of total $3 billion as the balance of payment support.
The remaining $2 billion is likely to be transferred within a few days, he said. The central bank will show the funds from Saudi Arabia on November 29 in its weekly report on foreign exchange reserves.
In October, the Kingdom had agreed to loan Pakistan $3 billion for one year as a balance of payment support and to provide a one-year deferred payment facility for oil payments, up to $3 billion, Foreign Office said in a press release.
It added that the Prime Minister's visit to Saudi Arabia had resulted in significant understandings between Pakistan and Saudi Arabia.
It said Saudi Arabia will place a deposit of $3 billion for a period of one year as a balance of payment support.
The Kingdom also promised to provide a one-year deferred payment facility for import of oil, up to $3 billion. This arrangement will be in place for three years.
"At the invitation of the Custodian of the Two Holy Mosques, His Majesty, King Salman bin Abdulaziz, the Prime Minister of the Islamic Republic of Pakistan, PM Imran Khan visited Saudi Arabia to participate in the Future Investment Initiative (FII) Conference on 22-23 October 2018," according to the Foreign Office.
During the visit, the prime minister had detailed bilateral discussions with His Majesty, King Salman bin Abdul Aziz, and His Royal Highness, Crown Prince Muhammad bin Salman.
The Crown Prince agreed to the Prime Minister's suggestion to reduce visa fee for Pakistani workers, which is a significant step towards enhancing Pakistan's workforce in Saudi Arabia, as well as facilitating travel of people from both countries.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 1, 2023 (Wednesday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||330.48||331.18|
|Hong Kong Dollar||HKD||33.72||34.07|
|New Zealand Dollar||NZD||171.35||173.35|
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs202,000 on Wednesday. The price of 10 grams of 24k gold was recorded at Rs173,190.
Likewise, 10 grams of 22k gold were being traded for Rs164,500 while a single tola of 22-karat gold was being sold at Rs 179,100.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
|Lahore||PKR 202,000||PKR 2,390|
|Karachi||PKR 202,000||PKR 2,390|
|Islamabad||PKR 202,000||PKR 2,390|
|Peshawar||PKR 202,000||PKR 2,390|
|Quetta||PKR 202,000||PKR 2,390|
|Sialkot||PKR 202,000||PKR 2,390|
|Attock||PKR 202,000||PKR 2,390|
|Gujranwala||PKR 202,000||PKR 2,390|
|Jehlum||PKR 202,000||PKR 2,390|
|Multan||PKR 202,000||PKR 2,390|
|Bahawalpur||PKR 202,000||PKR 2,390|
|Gujrat||PKR 202,000||PKR 2,390|
|Nawabshah||PKR 202,000||PKR 2,390|
|Chakwal||PKR 202,000||PKR 2,390|
|Hyderabad||PKR 202,000||PKR 2,390|
|Nowshehra||PKR 202,000||PKR 2,390|
|Sargodha||PKR 202,000||PKR 2,390|
|Faisalabad||PKR 202,000||PKR 2,390|
|Mirpur||PKR 202,000||PKR 2,390|