Pakistan seeks revival of $1.2bn Saudi oil facilit...

Summary

•   Pakistan has raised the revival of a $1.2 billion annual oil facility on deferred payments with Saudi Arabia, as both countries explore ways to strengthen energy cooperation.
• Saudi Arabia has separately provided Pakistan with $3 billion in short-term financial support through the SFD.
• Since 2019, Saudi Arabia has supported Pakistan through an oil financing arrangement that allows Islamabad to make payments after a one-year period.

AI Generated Summary

Pakistan has raised the revival of a $1.2 billion annual oil facility on deferred payments with Saudi Arabia, as both countries explore ways to strengthen energy cooperation.

Finance Minister Muhammad Aurangzeb discussed the matter with Saudi Fund for Development (SFD) Chief Executive Officer Sultan Abdulrahman Al-Marshad on Tuesday on the sidelines of the World Bank and International Monetary Fund (IMF) annual meetings in Thailand.