ISLAMABAD – Saudi Crown Prince Mohammed bin Salman has pledged $3 billion in financial support to Pakistan, to be deposited in the State Bank of Pakistan, it emerged on Tuesday.
The move reflects Saudi Arabia’s ongoing commitment to Pakistan’s economic stability.
Reports said the crown prince recently sent Saudi Arabia’s finance minister on a brief visit to Islamabad to assure Pakistani leadership that the Gulf country would help cover any potential foreign exchange shortfall resulting from the withdrawal of funds by another friendly Gulf nation.
The pledge comes after a Gulf nation repatriated over $3 billion from Pakistan, with Saudi Arabia promising an equivalent deposit to maintain reserve levels. Pakistan already holds $5 billion in Saudi deposits.
Officials called this an “extraordinary measure,” highlighting the strategic trust and strong bilateral relations between the two countries. Pakistani leaders, both civilian and military, have expressed deep gratitude for the crown prince’s gesture.
Prime Minister Shehbaz Sharif is expected to visit Saudi Arabia soon, where he will meet the Crown Prince to formally thank Saudi leadership for their timely support.
During the visit, the prime minister will also brief the Saudi leadership on Pakistan’s diplomatic facilitation of the second round of US–Iran talks and efforts to turn the current ceasefire into a more sustainable arrangement.
