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Saudi Arabia to provide $3 bln deposit; upto $3 bln deferred oil payment.

ISLAMABAD -- Saudi Arabia Tuesday agreed to place a deposit of US 3 billion dollars for a period of one year as balance of payment support and a one year deferred payment facility for import of oil, up to US 3 billion dollars to Pakistan .

The decisions came following Prime Minister Imran Khan's visit to Saudi Arabia and his successful talks with the Saudi leadership.

Saudi Arabia also confirmed its interest in the oil refinery project in Pakistan, the PM Office said.

Prime Minister was accompanied by the Minister for Foreign Affairs, Makhdoom Shah Mehmood Qureshi, Minister for Finance, Asad Umar, Minister for Information, Fawad Ahmed, and Advisor to the Prime Minister on Commerce, Abdul Razaq Dawood, and Chairman Board of Investment Haroon Sharif.

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Publication:The Frontier Star (Northwest Frontier Province, Pakistan)
Geographic Code:9PAKI
Date:Oct 24, 2018
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