Sunday, 1 May 2022 (YJC)_ Pakistani officials say the country has offered to double the amount of oil facilities it receives from Riyadh to Saudi officials, and the Kingdom of Saudi Arabia has agreed to it.
Pakistani officials say the country has offered Saudi officials a doubling of oil facilities from $ 1.2 billion to $ 2.4 billion, and the Kingdom of Saudi Arabia has agreed.
With this move, Pakistan will receive an $ 8 billion facility package from Saudi Arabia.
In that case, Pakistan would receive about $ 8 billion in financial assistance from Saudi Arabia, including doubling its oil purchases, receiving more deposits or sukuk, and relocating $ 4.2 billion in existing facilities. Pakistani Prime Minister Shahbaz Sharif's visit to Riyadh.
According to some official Pakistani sources, the technical details are being reviewed and it will take several weeks to prepare and sign all the documents. Shahbaz Sharif and his official delegation have left Saudi Arabia, but Finance Minister Muftah Ismail is still in Saudi Arabia to finalize the process of receiving the increased financial package.
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