Saudi agrees to revive financial support to Pak

Saudi Arabia has agreed to revive its financial support to Pakistan, including about $3 billion in safe deposits and $1.2bn to $1.5bn worth of oil supplies on deferred payments, Dawn reported.

An agreement to this effect was reached during the visit of Pakistan Prime Minister Imran Khan to the kingdom this week, a senior government official told Dawn. However, a formal announcement would be made by the PM’s adviser on finance and revenue Shaukat Tarin and Energy Minister Hammad Azhar on Wednesday at a news conference.

The development was later confirmed in a midnight tweet by Information Minister Fawad Chaudhry. “Saudi Arabia’s announcement support Pakistan with 3 billion US dollars as deposit in Pakistan central bank and also financing refined petroleum products with 1.2 billion US dollars during the year, he wrote.

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