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Saudi Arabia pledges US$3b to Pakistan amid balance of payment crisis

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Saudi King Salman (R) meets with Pakistan's Prime Minister Imran Khan during a meeting in Riyadh. Saudi Arabia on October 23 pledged US$3 billion to Pakistan as it battles a balance of payment crisis and another US$3 billion on deferred payment for import of oil, a statement said

[ISLAMABAD] Saudi Arabia on Tuesday pledged US$3 billion to Pakistan as the South Asian country battles a balance of payment crisis, a statement from Islamabad said.

It also agreed to another US$3 billion on deferred payment for import of oil, the statement added.

The agreement came between the two countries during a visit by Prime Minister Imran Khan to Riyadh where he met King Salman bin Abdulaziz.

Mr Khan also attended a Saudi Arabian investment conference where the newly minted leader launched a charm offensive targeting potential investors as Pakistan seeks to secure funds.

AFP

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