KSA to lend Pakistan oil worth of $3.20 billion.

ISLAMABAD -- Adviser of Prime Minister on Finance Dr Abdul Hafeez Shaikh said on Wednesday that Saudi Arabia will provide $3.2bn worth of oil on credit to Pakistan every year. According to the details, Saudi Arabia has agreed to extend helping hand to Pakistan in difficult economic situation and good news surfaced. Abdul Hafeez Shaikh said that the Kingdom of Saudi Arabia (KSA) will extend a $3.2 billion deferred payment facility with Pakistan for petroleum products from the start of July. He also confirmed that the facility will be worth $275 million per month and will amount to $3.2bn per year for a period of three years. The finance adviser took his twitter and thanked the crown prince of Saudi Arabia for his continuous support for the people of Pakistan.

He said the facility would help strengthen Pakistan's balance of payments position as the country battles a current account crisis. 'Would like to Thank The Crown Prince of Saudi Arabia, His Highness Mohammad Bin Salman for his continuous support for the people of Pakistan,' he tweeted. Retweeting the finance adviser's post, Minister of State for Revenue Hammad Azhar...