Pakistan signs agreement to defer $1.2 billion payment for Saudi oil

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These agreements include "Deferred Payment for Oil Import from Saudi Arabia" worth USD 1.2 billion for one year and "Construction of Gravity Flow Water Supply Scheme" at Mansehra amounting to USD 41 million.

Prime Minister Shehbaz welcomed the signing of the oil import financing facility, the Prime Minister's Office (PMO) said in a statement, adding that Pakistan will receive the oil on deferred payment for one year, it said.

Pakistan government signed an agreement with the Saudi Fund for Development (SFD) to defer by one year a USD 1.2 billion payment on oil imports.

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Category: BusinessFinance

Markets: IndiaPakistanSaudi Arabia

Topics: Saudi oil payment Saudi oil Shehbaz Sharif

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-04 @ 11:44:32 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 351 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 25878572

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