In a new development, PTI government secures yet another economic deal worth 4.5 billion

ISLAMABAD – Ministry of Finance on Saturday has revealed that theSaudi-backed Islamic Development Bank (IsDB) will lend Pakistan oil worth$4.5 billion.

“The IsDB will lend Pakistan oil worth $4.5 billion over three years. Theoil will be lent in three installments of $1.5 billion each every year,”the spokesperson added.

The Ministry of Finance spokesperson further said that in the first phasethey have received oil worth $100 million and oil worth $270 million willbe lent in the second phase.

“We are also in talks with the IsDB regarding lending of liquefied naturalgas (LNG),” the spokesperson added.

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“Talks with Saudi Arabia regarding lending of oil have been finalised. Wewill start receiving oil from the kingdom from mid-February,” he shared.