ISLAMABAD – Pakistan will receive oil on deferred payments from SaudiArabia in the near future, federal Information Minister Fawad Chaudhry saidTuesday.

The ruling party member while speaking about the development said thatPrime Minister Imran Khan, during his recent visit to the kingdom, had madea request to Saudi authorities to resume the supply of oil to Pakistan ondeferred payments for an extended period.

Ch. Further added that the exact details of the accord will be known laterwhen there is a formal agreement between the two sides. ‘it’s almost done’,he added.

Budget makers for the next fiscal year will get relief in the wake of anagreement with the Kingdom for the resumption of the Saudi Oil Facilityfrom the three-to-five-year period.

Meanwhile, the development surfaced when the south Asian country isnegotiating with the International Monetary Funds (IMF) to ensure not toburden its masses by increasing taxes and hiking power tariffs again torepay loans.