World

Saudi govt revives $3bn support to Pakistan

ISLAMABAD: 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.

An agreement to this effect was reached during the visit of Prime Minister Imran Khan to the kingdom this week, a senior government official told a Karachi based English newspaper. However, a formal announcement would be made by 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 announcement support Pakistan with 3 billion US dollars as deposit in Pakistan central bank and also financing refined petroleum product with 1.2 billion US dollars during the year,” he wrote.

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