Pakistan Seeks One-Year Extension of Saudi Deferred Oil Payment Facility

Government Requests Extension of $1.2 Billion Saudi Oil Facility Until 2027

Pakistan has asked Saudi Arabia to extend a $1.2 billion oil financing facility for another two years as the current arrangement nears its expiry next month. The request aims to keep the facility in place until the completion of Pakistan’s ongoing IMF program, helping ease pressure on foreign exchange reserves. According to official sources, Islamabad […] The post Government Requests Extension of $1.2 Billion Saudi Oil Facility Until 2027 appear…

Pakistan seeks one-year extension of Saudi deferred oil payment facility

Pakistan has formally approached Saudi Arabia with a request to extend the deferred oil payment facility for another year and to lengthen the repayment period from the current one year to at least two years, in a bid to ease pressure on the country’s external finances. Sources familiar with the matter said Pakistan’s economic team has conveyed the request to Saudi authorities, stressing the need to continue the facility to help manage balance of…