Saudi to provide USD 4.2 bn to Pakistan; PM Imran Khan thanks Crown Prince Salman
Islamabad, Oct 27: Saudi Arabia has agreed to provide USD 4.2 billion worth of assistance to cash-strapped Pakistan to support its economy, it emerged on Wednesday after Prime Minister Imran Khan held talks with Saudi Crown Prince Mohammad bin Salman in Riyadh this week.
Information Minister Fawad Chaudhry took to Twitter to announce the assistance which came just two days after Khan paid a three-day visit to the Gulf kingdom.
Saudi Arabia's announcement supports Pakistan with 3 billion US dollars as deposit in Pakistan central bank and also financing refined petroleum products with 1.2 billion US dollars during the year, he said in a tweet.
Prime Minister Khan thanked Crown Prince Salman for the generous aid when Pakistan's economy was facing difficulties.
I want to thank HRH Prince Mohammad bin Salman for supporting Pak with $3 bn as deposit in Pak's central bank & financing refined petroleum product with $1.2 bn. KSA has always been there for Pak in our difficult times incl now when world confronts rising commodity prices (sic), he said on Twitter.
Prime Minister's Adviser on Finance Shaukat Tarin, addressing a press conference, said that the Saudi financial support package of USD 4.2 billion was for one year and would prove to be useful to lift pressure on the Pakistani rupee.
He said that during talks in Saudi Arabia, Crown Prince Salman expressed his happiness to extend the support to Pakistan, saying Pakistan holds a special place for the Kingdom .
Tarin stated that the Saudi package had no connection with the IMF programme, which he said would be revived.
The Pakistani currency has depreciated around 13.6 per cent since May and it is said that smuggling of dollars to neighbouring Afghanistan was the main reason for it.
In 2018, Saudi Arabia had provided USD 3 billion in cash deposits and promised a USD 3 billion oil facility to Pakistan to help its foreign exchange reserves in 2018.
However, as the bilateral relations deteriorated later, Islamabad had to return USD 2 billion of the USD 3 billion deposits.
Pakistan announced in June this year that Saudi Arabia was about to make available USD 1.5 billion oil facility per annum.
Now it has provided direct disposition assistance along with oil facilities after the visit of Khan.
The Saudi government would immediately deposit USD 3 billion in Pakistan's account for a year and keep it rolling at least until the completion of the International Monetary Fund (IMF) programme in October 2023, Dawn newspaper said.
Pakistan and the IMF had signed the USD 6 billion deal in July 2019 but the programme was derailed in January 2020 and restored briefly in March this year before again going off the track in June.
From June to August there were no serious discussions between the two sides.
In addition, the Saudi government would provide crude oil to Islamabad on deferred payments worth up to USD 1.5 billion per annum, the report said.
Breaking news
— Ch Fawad Hussain (@fawadchaudhry) October 26, 2021
Saudi Arabia announcement support Pakistan with 3 billion US dollar as deposit in Pakistan central bank
and also financing refined petroleum prodcut with 1. 2 billion us dollars during the year https://t.co/z2izW1avIT https://t.co/z2izW1avIT
I want to thank HRH Prince Mohammad bin Salman for supporting Pak with $3 bn as deposit in Pak's central bank & financing refined petroleum product with $1.2 bn. KSA has always been there for Pak in our difficult times incl now when world confronts rising commodity prices.
— Imran Khan (@ImranKhanPTI) October 27, 2021
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Mumbai gears up for New Year celebrations; over 17,000 cops to be on duty
Mumbai (PTI): The Mumbai police have deployed more than 17,000 personnel as part of elaborate security arrangements to maintain law and order during the New Year celebrations, an official said on Tuesday.
Large gatherings are expected at prominent places in the city, including the Gateway of India, Marine Drive, Girgaon Chowpatty, Bandra Bandstand, Juhu and Versova beaches starting Wednesday evening. The celebrations at various hotels, restaurants and malls are likely to continue till the wee hours of Thursday.
In view of the celebrations, the police have made arrangements for a strict vigil to avoid any untoward incident in the city, the official said.
Nakabandi (police checkposts) will be set up at key locations, important roads, and patrolling on streets will be intensified, he said.
"The Mumbai police, along with the traffic wing, have deployed a massive security force comprising 10 Additional Commissioners of Police, 38 Deputy Commissioners of Police, 61 Assistant Commissioners of Police, 2,790 police officers and 14,200 police personnel," the official said.
In addition, the State Reserve Police Force (SRPF) platoons, Quick Response Team (QRT) teams, Bomb Detection and Disposal Squad (BDDS) teams, Home Guards and other forces have been deployed at sensitive and important locations, according to him.
The police will take strict action against those involved in eve-teasing, sale of illicit liquor and drugs, among other things, he said.
The police appealed to people to ring in the New Year and enjoy the celebrations in a peaceful manner by following all the rules.
Citizens are advised to contact the police helpline numbers 100 or 112 for immediate assistance, the official added.
In adjoining Thane, police have launched an enforcement campaign to ensure safety of revellers during New Year celebrations. Authorities have deployed a heavy force to monitor traffic violations and drunk driving.
Under the directives of Thane Police Commissioner Ashutosh Dumbare and Joint Commissioner Dnyaneshwar Chavan, the Traffic Branch has deployed 739 personnel, including 59 officers, across the city.
Road blockades have been established at 54 strategic locations across the city to regulate traffic.
Specific "hotspots" identified for intensive monitoring include Yeur, Upvan, Durgadi, Katai Naka, Mumbra, and Ranjanoli Naka. Police will use 51 breath analyzer machines to test motorists and have warned that strict action will be taken against those creating noise or behaving inappropriately.
Establishments such as bars, hotels, and farmhouses have been issued specific instructions to prevent patrons from driving under the influence of liquor.
Pankaj Shirsath, Deputy Commissioner of Police (Traffic Branch), emphasized the need for collective responsibility.
"The Thane traffic department is making sincere efforts to ensure that New Year celebrations are conducted smoothly. Therefore, it is very important to follow traffic rules as driving under the influence of alcohol, stunts or speeding can cause accidents," he cautioned.
