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Akhtar Khan

Akhtar Khan
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http://akhtarkhanviews.com/
Chief Editor at Pak Affairs --journalist and social media activist based in Islamabad. He tweets @akhtarkhanviews
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10 items contribute 33% of import taxes

10 items contribute 33% of import taxes

France records more than 50,000 daily Covid cases

France records more than 50,000 daily Covid cases

Total solar eclipse plunges Antarctica into darkness

Total solar eclipse plunges Antarctica into darkness

National cricketer stars condemn the Sialkot inciden

National cricketer stars condemn the Sialkot incident

Pakistan receives $3bn in funds from Saudi Arabia The State Bank of Pakistan on Saturday received a much-awaited $3 billion deposit from Saudi Fund for Development, reports Geo. Taking to official Twitter handle, Adviser to Prime Minister on Finance and Revenue Shaukat Tarin announced: “Good news, $3 billion Saudi deposit received by SBP.” The PM's aide acknowledged the support provided by Saudi Arabia and wrote: “I want to thank Crown Prince Mohammed Bin Salman and Kingdom of Saudi Arabia for the kind gesture.” On November 29, the central bank of Pakistan and the Saudi Fund for Development signed a deposit agreement for funds worth $3 billion. According to a joint statement, under this deposit agreement, SFD shall park $3 billion in the SBP. “The deposit amount under the agreement shall become part of SBP’s foreign exchange reserves,” it had said. The central bank had stated that the deposit would help support Pakistan’s foreign currency reserves and “contribute towards resolving the adverse effects of the COVID-19 pandemic.” The deposit agreement was signed by SFD Chief Executive Officer H E Sultan Bin AbdulRahman Al-Marshad and the SBP Governor Dr Reza Baqir at the State Bank of Pakistan in Karachi. On October 27, the Saudi Fund for Development agreed to deposit $3 billion in the SBP to help support its foreign reserves. The fund had stated that an official directive was issued to supply $1.2 billion to finance Pakistan’s oil products trade during the year. Saudi Arabia will charge around 3.2 to 3.5% markup on annual basis for this deposit amount. According to the central bank, Pakistan’s total liquid foreign reserves stood at $22.498.8 billion on November 26, 2021. The break-up of the figures shows that foreign reserves held by the SBP were standing at $16.010.3 billion and net foreign reserves held by commercial banks were standing at $6.488.5 billion. During the week ended on November 26, 2021, the SBP's reserves decreased by $244 million or 1.5%.

Pakistan receives $3bn in funds from Saudi Arabia

Two suspects 'confess' to lynching Sri Lankan factory manager in Sialkot

Two suspects ‘confess’ to lynching Sri Lankan factory manager in Sialkot

New Small Planet as dense as Pure Iron discovered

New Small Planet as dense as Pure Iron discovered

Pak women squad competes in IOC cricket tournament

Pak women squad competes in IOC cricket tournament

90% Pakistanis link patriotism with respect for Pakistan Army

90% of Pakistanis link patriotism with respect for Pakistan Army

SSGC generates biogas as a trial project; Hammad Azhar

SSGC generates biogas as a trial project; Hammad Azhar

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