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Saudi Arabia to Resume Deferred Oil Facility to Pakistan
Saudi Arabia has agreed, in principle, to resume deferred oil facility to Pakistan. The facility will be $3 billion per annum and will be offered for an extended period. However, the details of modalities are yet to be finalized, a national daily reported on Wednesday. The Federal Minister for Information and Broadcasting, Fawad Chaudhry, also confirmed this to the media. The announcement comes after Prime Minister Imran Khan’s recent visit to Saudi Arabia, during which he made a fresh request for the resumption of the Saudi Oil Facility (SOF). This is part of Pakistan’s efforts to avoid external account problems…