ISLAMABAD: Saudi Arabia oil supplies to Pakistan will start this July. Pakistan is due to begin receiving oil supplies on deferred payments from the Kingdom of Saudi Arabia at the start of the new fiscal year.
According to the official press release by the Royal Embassy of Saudi Arabia, Islamabad, ” Pakistan will start receiving monthly oil supplies worth $ 275 Million from Saudi Arabic with effect of July 1, 2019. These supplies will continue over the next three years, with a total value of $ 9.9 Billion.
In this official press release they said that this packages expresses the keenness of the Saudi leadership to support the Pakistani economy for achieving financial stability and help the government to overcome the economic challenges and push the comprehensive development in Pakistan, and to emphasize the depth of relations between the two brotherly countries and people.
In last October, the Kingdom of Saudi Arabia has announced an economic support package for the Islamic Republic of Pakistan, which included $ 3 Billion for supporting balance of external payments. Moveover, the package included oil imports on deferred payments. The agreements concluded between the two sides reached a total amount of 20 Billion dollars.
