Thursday, May 19

Islamabad Receiving $8 billion package from KSA

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. KSA to provide an enhanced financial package to Islamabad 

. Pakistan receiving an $8 billion package from Saudi Arabia

. Pakistan proposed to double the oil facilities from $1.2 billion to $2.4 billion

. KSA agreed that the $3 billion in existing deposits would be carried over for another year, until June 2023

. Even more, money is likely to be provided to Islamabad

Islamabad, (PNB NEWS). Saudi Arabia has offered Pakistan a “significant package” worth  $8 billion.

During the visit of Prime Minister Shehbaz Sharif, Pakistan received a “major package” worth $ 8 billion from Saudi Arabia.

“However, technical aspects are being worked out, and all documents will be completed and signed in a few weeks,” Al-Akhbar reported on Saturday.

P.M Shahbaz Sharif and his officials have left Saudi Arabia, but Finance Minister Moftah Ismail remains to finalize the financial package’s measures.

Read also: https://shujaatnewsagency.com/2022/05/01/at-least-8-child…-mishap-in-egypt/ ‎

Pakistan has asked to double its oil financing facilities from $ 1.2 billion to $ 2.4 billion, according to officials, and Saudi Arabia has agreed.

It was also agreed to prolong the existing $3 billion deposits for a longer length of time, until June 2023, the report further added. 

“Pakistan and Saudi Arabia are discussing a second package worth over $2 billion in deposits or sukuks, with more money expected to be handed to Islamabad,” according to government sources.

 

 

 

 

 

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