Pakistan starts receiving Saudi oil supply on deferred payment

Islamabad: Pakistan has started receiving oil supplies from Saudi Arabia on deferred payments.

According to a press release issued by Saudi embassy in Islamabad on Monday, Pakistan will start receiving monthly oil supplies worth 275 million dollars.

These supplies will continue over the next three years with a total value of 9.9 billion dollars.
In October Saudi Arabia had announced an economic support package for Pakistan which included three billion dollars for supporting balance of external payments.

The agreements between the two countries had reached a total amount of $ 20 billion.The package expressed the keenness of the Saudi leadership to help Pakistan’s economy achieve financial stability and its government to overcome the economic challenges, the statement read.

It added that the Saudi financial assistance also emphasized the depth of relations between the two brotherly countries and peoples.