State Bank of Pakistan (SBP) on Friday has received another instalment of one billion dollars from Saudi Arabia.

According to a spokesperson of the central bank that bank has received another tranche of one billion US dollars from the Saudi bailout package, the kingdom had announced the after the visit of Prime Minister Imran Khan.

Pakistan has so far received two billion dollars from Saudi Arabia, the spokesman further added.

The foreign exchange reserves of the country have reached US 9.24 bln dollars after the recent tranche of Saudi package, the spokesman stated.

The next instalment of the bailout likely to be received in January next year.

In October the Saudi government agreed to give Pakistan three billion dollars for a year to address the country’s balance of payments crisis.

The Kingdom had also agreed to provide a one-year deferred payment facility for import of oil, worth up to another three billion dollars.