Pakistan has received second tranche of financial package signed between Pakistan and Saudi Arabia today (Friday), spokesperson State Bank of Pakistan (SBP) reported.
According to details, Saudi Arabia has transferred the second installment of $1 billion in the State Bank of Pakistan “as balance of payment support” and by January, the country is expected to receive third and final installment, completing the promise of the kingdom.
The foreign exchange has depleted fast in last three months and about $1 billion has been wiped out since the arrival of first financial assistance of $1 billion.
State Bank reserves has slipped to $7.2 billion following the debt and interest repayment, following the arrival the reserves will get a boost of $1 billion.
