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Saudi Arabia, UAE saved Pakistan from defaulting: PM Khan

Says Kingdom has always stood by Pakistan in difficult times

SAMAA | - Posted: May 9, 2021 | Last Updated: 2 months ago
SAMAA |
Posted: May 9, 2021 | Last Updated: 2 months ago

Pakistan would have defaulted had Saudi Arabia and the UAE not helped the country with its foreign reserves, Prime Minister Imran Khan told overseas Pakistanis in Jeddah on Sunday.

“If they had not helped us with our reserves, we would have defaulted,” said the premier while speaking with overseas Pakistanis. “And if we had defaulted, there would have been severe consequences.”

PM Khan said he wants to thank Saudi Arabia because it has always stood by Pakistan in its difficult times. He added that the Kingdom didn’t only help Pakistan with its foreign reserves but also gave it oil on deferred payments.

The premier is visiting Saudi Arabia on the invitation of Crown Prince Mohammed bin Salman.

Saudi Arabia was the first foreign country PM Khan visited after he came to power in 2018 and it is his sixth visit to the Kingdom.

PM Khan said he knows the importance of overseas Pakistanis more than anyone because he has been interacting with them for a long time.

He instructed the Pakistani ambassador to Saudi Arabia to increase his interaction with the overseas Pakistanis.

“I want you to interact with the Pakistani community in Saudi Arabia,” he told the ambassador in his speech. “I received reports that the Pakistani community here hasn’t been served properly for the past one and a half year.”

He said the overseas Pakistanis send remittances to their people in Pakistan but the government has not been able to convince them to invest in Pakistan and there are several reasons behind it.

He said that the coronavirus destroyed the most powerful economies in the world and the exports of Pakistan’s neighbours have dropped drastically.

But, he added, Pakistan’s exports are going up and its construction industry is growing. “The industry is creating jobs,” he said, adding that it is a “very decisive moment” for Pakistan.

We have strengthened our relationship with Saudi Arabia and it is very important to us.

“On one side, there is an old status quo and mafias sitting and on the other side, Pakistan’s people are going towards a change and rule of law.” he said.

 
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