ISLAMABAD: Saudi Arabia is providing Pakistan loan of Riyal 206 million for constructing Chehlla Bandi road in Muzaffarabad Azad Jammu and Kashmir.
“The loan is repayable in 20 years at 2% charge with 5 years grace period,” Jassim M. Al-Khaldi, Charge d’affaires, Embassy of Saudi Arabia informed Finance Minister, Ishaq Dar here on Wednesday.
“Jassim Al-Khaldi handed over a letter from the Saudi Finance Minister to Ishaq Dar, conveying information about Saudi loan of 206 million Riyal for Chehlla Bandi road project near Muzaffarabad,” said a statement issued by the ministry of finance here.
Commenting on ‘Zarb-e-Azb’ operation, Jassim shared his county’s strong feelings for Pakistan on countering terrorism.
Acknowledging the Saudi support, the Ishaq Dar thanked the Saudi government for its support to Pakistan.
The Minister also briefed the Saudi Envoy about the ongoing Operation ‘Zarb-e-Azb’.
He said the Pakistani nation, in unison with the armed forces, has a resolve to carry this operation to a conclusion.
He said the war on terror had taken a heavy toll on Pakistan’s economy and the overall losses had already surpassed a 100 billion dollars.
A large number of people were displaced due to the ongoing operation and hefty resources were needed for rehabilitation of the Temporarily Displaced Persons (TDPs).
The minister also inquired after the health of King Abdullah and conveyed warm sentiments of the government and people of Pakistan for Khadim Al-Haramain Al-Sharifain.