Pakistan gets $2 billion economic breather

Pakistan gets $2 billion economic breather
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ISLAMABAD - Pakistan is likely to get $2 billion worth petroleum products from Saudi Arabia on deferred payments for two years, sources revealed on Monday.

Pakistan formally requested Saudi Arabia to provide 0.2-million-barrel oil per day on deferred payments for as much as three months, while $2 billion worth oil supply for at least two years, sources added.

It is pertinent to mention that Pakistan can get the same facility from the United Arab Emirates if Saudi Arabia agrees to provide oil on credit, as Pakistan imports oil worth $4.75 billion from UAE annually.

As per details, the delegations of Pakistan and Saudi Arabia held the first round of talks in Islamabad on Monday. Sources in the Ministry of Energy informed Pakistan Today that during the talks, Saudi investors expressed keen interest to invest in the power sector of Pakistan.

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