Saudi Arabia has agreed to provide Pakistan 3 billion dollars in foreign currency support for a year to address its balance-of-payments crisis, the government announced on Tuesday.

The Kingdom has also agreed to provide Islamabad with a one-year deferred payment facility for import of oil, worth up to $3 billion.

The agreements in this regard were signed during the visit of Prime Minister Imran Khan to Saudi Arabia to attend the Future Investment Initiative (FII) Conference, a trip he undertook on the invitation of Custodian of Two The Holy Mosques King Salman.

According to a press release issued by the government, It was agreed that Saudi Arabia will place a deposit of US $3 billion for a period of one year as balance-of-payment support.

It was also agreed that a one-year deferred payment facility for import of oil, up to $3 billion, will be provided by Riyadh. This arrangement will be in place for three years, after which it will be reviewed.

Saudi Arabia also “confirmed its interest” in investing in a petroleum refinery in Pakistan. The Kingdom also expressed interest in the development of mineral resources in Pakistan.


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What about pakistani family visit visa fee in saudia Arabia

Mir Aksam

What is the latest update about reduction of Pakistan family visit visa fees? It is also announced by Ministry of Information and Broadcasting.