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Pakistan Receives 2nd $1 Billion Instalment From Saudi Arabia

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LAHORE:Pakistan has received its second instalment of $1 billion of the $3 billion from Saudi Arabia, according to media reports.According to sources in the Ministry of Finance, Pakistan will receive the third instalment in mid-January.Earlier, the State Bank of Pakistan (SBP) in November had received $1 billion from Saudi Arabia.

On Thursday, the foreign exchange reserves held by State Bank of Pakistan (SBP) were reported at $7.2 billion, shrinking by $242 million owing to external debt servicing and other official payments.The total liquid foreign reserves held by the country stood at $13.7 billion on December 7, 2018.And net foreign reserves held by commercial banks stood at $6.4 billion.During the week under review, SBP’s reserves decreased by $242 million to $7.2 billion.