Pakistan has formally requested Saudi Arabia to extend the $1.2 billion Saudi Oil Facility for two more years during the ongoing IMF program.
it has asked Saudi Arabia to extend the oil credit facility for another two years. The value of this facility is 1.2 billion dollars and it is called the Saudi Oil Facility. Pakistan wants this facility to continue after its current period ends.
Senior government sources have confirmed that Pakistan has sent a new request for the extension. This request is meant to support the country until the current International Monetary Fund program is completed. The sources said that the request has been formally sent to Saudi authorities and Pakistan is now waiting for their approval.
Meanwhile, the Ministry of Petroleum and the Ministry of Finance have not shared any comments on this matter. Even after repeated contact, both ministries chose not to speak about the issue.
Must Read: Pakistan and India Set to Face Each Other Again on the Football Field
Key Details at a Glance
| Detail | Information |
|---|---|
| Facility Name | Saudi Oil Facility |
| Total Value | $1.2 Billion |
| Extension Requested | 2 Years |
| Purpose | Support until IMF program completion |
| Current Status | Waiting for Saudi approval |
Do Follow Us on Facebook: Kafalat News
1 Comment