Saudi Arabia kept its promise
Pakistan gets oil and gas purchase facility on loan, Islamic Trade Financed Corporation will provide 76.15 million per month to Pakistan.
Saudi Arabia has fulfilled its promise, Pakistan has got the facility to buy oil and gas on loan, Islamic Trade Finance Corporation will provide millions of dollars to Pakistan every month. According to details, a statement issued by the Ministry of Economic Affairs said that Pakistan has got the facility to purchase oil and gas on credit.
According to the statement, the Islamic Trade Finance Corporation will provide 76 761.5 million a month to Pakistan, which will be used to purchase oil and gas. Mudaraba Financing Agreement has been signed between Pakistan and ITFC.''According to a statement issued by the Ministry of Economic Affairs, the facility of oil and gas on credit has been started immediately''. Pakistan will be able to purchase oil and gas from Saudi Arabia.
According to the Ministry of Economic Affairs, Pakistan will be provided 1.5 billion in financing annually. With the money received from Islamic Trade Finance Corporation, Pakistan will import crude oil, refined petroleum products, LNG, PSO, Parko, Pakistan will facilitate import for LNG. It may be recalled that after Prime Minister Imran Khan's visit to Saudi Arabia last month, a major economic package for Pakistan was announced.
Saudi Arabia has announced to provide 3 billion to Pakistan to improve its foreign exchange reserves. It was announced that 3 billion would be deposited in the State Bank of Pakistan by the Saudi Fund for Development. The statement said that Saudi Arabia will always support Pakistan's economy.