ISLAMABAD – Saudi Ambassador to Pakistan Nawaf Saeed Al-Malki saidWednesday that Pakistan will receive the first instalment of Saudi aidamounting to $3 billion in the next few days to address its financialcrisis.

The Kingdom of Saudi Arabia would release the amount of $3 billion in termsof the balance of payment, the envoy stated in a short interview with aprivate news channel.

In addition to this, the envoy confirmed that the Saudi government wouldprovide deferred payment facility for the import of oil, worth up toanother $3 billion.

“The Saudi companies are keen to invest a huge amount of around $6-8billion for establishing an oil refinery in Pakistan,” he added.

Replying to a question, Nawaf Saeed said that besides this aid, the Kingdomwould like to invest in the power sector of Pakistan, adding “we were alsoseeking to set up a petrochemical industry near Karachi.”

Moreover, he hinted that an investment would also be made in the Reko Diqproject.