Saudi Arabia’s $3.2bn deferred payment oil facility for Pakistan from July

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ISLAMABAD: Adviser to Prime Minister on Finance Dr Abdul Hafeez Sheikh has announced that the Kingdom of Saudi Arabia (KSA) will extend a $3.2 billion deferred payment oil facility to Pakistan from first July.
On twitter, the adviser said that the facility will be worth $275 million per month and will amount to $3.2bn per year for a period of three years.
Dr Hafeez Shaikh thanked the Crown Prince of Saudi Arabia for his continuous support for the people of Pakistan. He said the facility would help strengthen Pakistan’s balance of payments position as the country battles a current account crisis.

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