Saudi Arabia to supply oil worth $3.2bn per year on deferred payments: Hafeez Shaikh

ISLAMABAD: Prime Minister’s Advisor on Finance Dr Abdul Hafeez Shaikh right here on Wednesday stated that Saudi Arabia will provide oil value $3.2 billion per 12 months to Pakistan on deferred funds for 3 years, ARY Information reported.  

Dr Abdul Hafeez Shaikh stated that oil provide from Saudi Arabia on deferred funds will begin from July and added that the Kingdom would provide $275 million  oil to Islamabad on month-to-month foundation from subsequent month.

The advisor additional stated, “Oil provide from Saudi Arabia will enhance steadiness of funds.” He thanked Saudi Crown Prince Mohammed bin Salman for his steady help to Pakistan.

Learn Extra: Saudi Arabia to provide oil credit facility to Pakistan

Earlier within the day, Saudi Arabia has agreed to increase serving to hand to Pakistan in tough financial state of affairs, stated sources.

In keeping with sources, after excessive stage official contacts the dominion will seemingly to offer oil, value as much as $Three billion on credit score to Pakistan.

Prime Minister Imran Khan has been knowledgeable concerning the growth over the matter, sources stated. Riyadh will present Islamabad deferred cost facility for import of oil, value as much as $Three billion.

An agreements on this regard was signed throughout the go to of Prime Minister Imran Khan to Saudi Arabia to attend the Future Funding Initiative (FII) convention, a visit he undertook on the invitation of King Salman bin Abdul Aziz Al-Saud.

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