Blackwater
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Saudi Arabia to provide 206m riyals for road project
ISLAMABAD
Saudi Arabia will provide loan of 206 million riyals for Chehlla Bandi road project near Muzaffarabad, which would be repayable in 20 years at 2 per cent charges with five years grace period.
Finance Minister Ishaq Dar received Jassim M Al-Khaldi, charge d'affaires, Embassy of Saudi Arabia at the Ministry of Finance on Wednesday morning.
At the outset of the meeting, Jassim Al-Khaldi handed over a letter from the Saudi Finance Minister to Ishaq Dar, conveying information about Saudi loan of 206 million riyals for Chehlla Bandi road project near Muzaffarabad. The loan is repayable in 20 years at 2% charge with 5 years grace period.
Finance Minister Ishaq Dar thanked the Saudi government, particularly his Saudi counterpart for this gesture.
The minister inquired from the Saudi envoy about the health of King Abdullah. He conveyed to Jassim warm sentiments of the government and people of Pakistan for Khadim Al-Haramain Al-Sharifain. The Saudi charge d'affaires said that King Abdullah was recovering from his illness and his health was gradually improving.
The minister also briefed the Saudi envoy about the ongoing operation Zarb-e-Azb. He said the whole Pakistani nation in unison with the armed forces had a resolve to carry this operation to a conclusive end. He said the war on terror had taken a heavy toll on Pakistan's economy and the overall losses had already surpassed a100 billion dollars. A large number of people were displaced due to the ongoing operation and hefty resources were needed for rehabilitation of the TDPs. Jassim, on this occasion, said Saudi Arabia shared Pakistan's strong feelings on countering terrorism. Saudi Arabia was always by Pakistan's side to extend a helping hand.
Finance Minister Ishaq Dar acknowledged Saudi support to Pakistan for success of its efforts to curb militancy.
Later, Ishaq Dar presided over a meeting deliberating on mechanism for financial management of K-2 and K-3 nuclear power plants.
The meeting, attended by PAEC, SPD, SECP and senior officials of Finance Division and EAD, considered mechanism for handling financial matters/utilization of funding for the two plants in a completely fool proof and transparent manner. The meeting was informed that the two plants will generate 2200MW of power, helping to alleviate the problem of energy shortage.
The Exim Bank of China is providing funding for K-2 and K-3 being established along the Karachi coast.
Saudi Arabia to provide 206m riyals for road project
ISLAMABAD
Saudi Arabia will provide loan of 206 million riyals for Chehlla Bandi road project near Muzaffarabad, which would be repayable in 20 years at 2 per cent charges with five years grace period.
Finance Minister Ishaq Dar received Jassim M Al-Khaldi, charge d'affaires, Embassy of Saudi Arabia at the Ministry of Finance on Wednesday morning.
At the outset of the meeting, Jassim Al-Khaldi handed over a letter from the Saudi Finance Minister to Ishaq Dar, conveying information about Saudi loan of 206 million riyals for Chehlla Bandi road project near Muzaffarabad. The loan is repayable in 20 years at 2% charge with 5 years grace period.
Finance Minister Ishaq Dar thanked the Saudi government, particularly his Saudi counterpart for this gesture.
The minister inquired from the Saudi envoy about the health of King Abdullah. He conveyed to Jassim warm sentiments of the government and people of Pakistan for Khadim Al-Haramain Al-Sharifain. The Saudi charge d'affaires said that King Abdullah was recovering from his illness and his health was gradually improving.
The minister also briefed the Saudi envoy about the ongoing operation Zarb-e-Azb. He said the whole Pakistani nation in unison with the armed forces had a resolve to carry this operation to a conclusive end. He said the war on terror had taken a heavy toll on Pakistan's economy and the overall losses had already surpassed a100 billion dollars. A large number of people were displaced due to the ongoing operation and hefty resources were needed for rehabilitation of the TDPs. Jassim, on this occasion, said Saudi Arabia shared Pakistan's strong feelings on countering terrorism. Saudi Arabia was always by Pakistan's side to extend a helping hand.
Finance Minister Ishaq Dar acknowledged Saudi support to Pakistan for success of its efforts to curb militancy.
Later, Ishaq Dar presided over a meeting deliberating on mechanism for financial management of K-2 and K-3 nuclear power plants.
The meeting, attended by PAEC, SPD, SECP and senior officials of Finance Division and EAD, considered mechanism for handling financial matters/utilization of funding for the two plants in a completely fool proof and transparent manner. The meeting was informed that the two plants will generate 2200MW of power, helping to alleviate the problem of energy shortage.
The Exim Bank of China is providing funding for K-2 and K-3 being established along the Karachi coast.
Saudi Arabia to provide 206m riyals for road project
