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FinancialNews
23-05-19
Pakistan to receive Saudi Arabia's oil products facility on deferred payment
(MENAFN) Pakistan said Saudi Arabia will activate the postponed payment for petroleum products facility of USD275 million per month from July 1 reaching USD3.2 billion per year for three years.According to the Pakistani Adviser to the Prime Minister on Finance, the decision will advance the country's balance of payments position. Both countries have signed an agreement to make oil facility on postponed payment up to USD3 billion during the Saudi Crown Prince's visit to Pakistan.Economic experts are estimating that the oil facility would help Pakistan reduce the burden on import bill.
MENAFN2305201900450000ID1098559508
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