The federal cabinet has approved an agreement to keep $3 billion aid from Saudi Arabia in the State Bank of Pakistan.
The Cabinet endorsed the deal via a circulation summary Saturday.
The Saudi government had promised to maintain a reserve of $3bn at the State Bank.
According to the agreement, the aid will remain in the State Bank’s deposit account for a year.
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Financial Daily (FD) is an emerging media outlet providing news reports, analysis and features especially related to politics and economy. FD is currently one of the largest and most comprehensive private-sector information portals in Pakistan, providing its readers with apolitical, unbiased and fact-based news reports and analyses.
