Pakistan's government, led by the cricketer-turned-politician Khan, inherited a mountain of economic challenges when it came to power in July.

Saudi Arabia will provide $3 billion cash deposits to State Bank of Pakistan.


Long-time allies Islamabad and Riyadh signed the loan agreement as Pakistan's recently elected Prime Minister Imran Khan attended the high-profile global investment conference despite calls from Pakistani human rights activists to boycott the venue in protest of the killing of journalist Jamal Khashoggi in the Saudi consulate in Istanbul. It showcases economic and investment opportunities in Saudi Arabia as it pursues Vision 2030 for diversifying its economy.

Qassemi also referred to Foreign Minister Mohammad Javad Zarif's visit to Islamabad past year, saying, "During the trip, several committees were set up on various topics, including border issues, in order to lay the ground for boosting the security of the common borders through bilateral cooperation". However, the diplomatic price that Islamabad will have to pay has generated skepticism. "If Khan doesn't take a stronger stand in favor of Saudi positions in the region, it is unlikely that his gesture of showing support amidst the Khashoggi affair alone will prove sufficient for Saudi Arabia", former Pakistan ambassador to the US Husain Haqqani said to Asia Times.

Gulf crisis is being spilled over to Pakistan. He said the state of the economy is so precarious that without entering into a "charter of economy" no individual political party could overcome the issues, especially when the country will have to go for an International Monetary Fund programme. An IMF mission is scheduled to visit Islamabad next month to discuss the terms and the size of the loan.


Pakistan had said that India was just looking for excuses to avoid holding talks before next year's Parliament elections.

Imran Khan criticized previous governments for heavy debt burden on the country.

The Gulf kingdom also pledged an additional loan worth up to $3bn in deferred payments for oil imports, Pakistan's foreign ministry said in a statement on Tuesday.


Spain's prime minister says his government will fulfill past arms sales contracts with Saudi Arabia despite his "dismay" over the "terrible murder" of journalist Jamal Khashoggi.

Related news:

Share this:

Hot News

isis-killer-beheading-video-story-top CBI feud: Alok Verma plea differs from government submission in 2017
Oct 26, 2018 - 04:31
The decision came following a bitter battle being fought between Verma and CBI's special director Rakesh Asthana . NDTV delivers reliable information across all platforms: TV, Internet and Mobile.

isis-killer-beheading-video-story-top World’s ‘oldest shipwreck’ found at bottom of Black Sea
Oct 26, 2018 - 00:11
As Prof Adams says: "This assemblage must comprise one of the finest underwater museums of ships and seafaring in the world". Scientists from the United Kingdom and Bulgaria found on the bottom of the Black sea the ancient ship , discovered to date.

isis-killer-beheading-video-story-top U.S. police remove suspected bomb sent to actor Robert De Niro's offices
Oct 26, 2018 - 00:08
The package contained a pipe bomb and was addressed to De Niro, whose Tribeca Productions shares the restaurant's address. In addition to its appearance, the package also had the same return address as the others: that of Democratic Rep.

isis-killer-beheading-video-story-top Bomb found in George Soros's postbox
Oct 24, 2018 - 04:36
Respect for a diversity of opinions is fundamental to open society and that is the work that George Soros has devoted his life to. Authorities say the device contained explosive powder and bomb components, but did not go off on its own.

isis-killer-beheading-video-story-top Questions and answers about state of the US-Mexico border
Oct 24, 2018 - 03:01
Homan said on Sunday that the option of military intervention to protect the border is one that needs to be on the table. Olivin Castellanos, 58, a mason from Honduras , took a raft across the river after Mexico blocked the bridge.

isis-killer-beheading-video-story-top Dozens injured after floor collapses at SC house party
Oct 24, 2018 - 00:41
Woodlands Property Management President Tal Slann told CNN that people fell through the floor into the basement. Attendees posted video of the collapse online, which features graphic footage and strong language.

isis-killer-beheading-video-story-top Real Madrid coach Lopetegui defiant: I am here right now
Oct 24, 2018 - 00:19
Jose Mourinho has claimed he hopes to stay at Manchester United beyond the end of his current contract. " It's all right. Real Madrid now sits second in the group through two Champions League matches.

isis-killer-beheading-video-story-top Lebanon PM backs Saudi Arabia in Khashoggi case
Oct 23, 2018 - 23:59
During the reloading of suitcases, a gas mask fell to the ground, which the diplomat threw into the trash bin, the media said. The royal family said it didn't know what had happened for more than two weeks.

isis-killer-beheading-video-story-top Trump's missile treaty pullout as much about China as Russia
Oct 23, 2018 - 23:59
The only impact it had, he suggested, was to worsen relations between Moscow and Russian Federation . China also has a wide range of nuclear weapon delivery systems.

isis-killer-beheading-video-story-top Ohio State Fans Want This Coach Fired After Saturday’s Loss
Oct 22, 2018 - 07:24
He sent his field-goal unit out onto the field, but instead of going for three he called for a fake that worked to perfection. Haskins connected with Terry McLaurin on a 34-yard touchdown pass with four minutes to play for the Buckeyes' other touchdown.

isis-killer-beheading-video-story-top Police commando, photojournalist injured as protesters clash with cops; traffic restored
Oct 22, 2018 - 06:04
Video clips posted on the social media showed some people who had apparently seen the approaching train tried to run away. A state of mourning has been declared - offices and schools in Punjab will be closed on Saturday, Reuters reports.

isis-killer-beheading-video-story-top Black Ops 4 PC player counts have doubled over last year’s game
Oct 22, 2018 - 05:05
We've made a decision to roundup all the most current reviews from the major outlets in one spot for your reading pleasure. The Call of Duty game franchise might be 15 years old, but it's not showing any signs of a significant slowdown.

isis-killer-beheading-video-story-top Remains of fetuses and infants found at second Detroit funeral home
Oct 22, 2018 - 04:13
Those remains were found after state regulators in Lansing received an anonymous letter. McMath had services for her mother, Delores, at the Perry Funeral Home on October 6.

isis-killer-beheading-video-story-top Champagne on ice for Hamilton as Kimi rolls back years
Oct 22, 2018 - 02:26
Hamilton, meanwhile, bore down on Raikkonen, applying maximum pressure to relieve the Ferrari driver of the lead. Mercedes' Valtteri Bottas was the fourth-quickest in the session with a time of 1:32.616 minutes.

isis-killer-beheading-video-story-top Mourinho Reveals Conversation With Chelsea Coach After Bust-Up
Oct 22, 2018 - 01:07
Manchester United manager Jose Mourinho was involved in ugly scenes at the end of his return to Stamford Bridge. If I knew I would have been able to immediately change the situation.