According to Pakistan’s state television, the Saudi Oil Facility, worth 1.2 billion dollars, will be operationalized as soon as possible.
On Thursday, Minister for Economic Affairs Division Omar Ayub Khan and Saudi Ambassador Nawaf bin Saeed Al-Malkiy met in Islamabad and reached an agreement to this effect.
On November 29th of last year, the two countries struck a financing agreement worth 1.2 billion dollars for the import of petroleum products.
Saudi Arabia will grant a one-year financial facility of up to $100 million per month for the purchase of petroleum products on a deferred payment basis, according to the Financing Agreement.
The Saudi envoy told the Pakistani side that it will continue to receive support at all levels in order to develop bilateral economic cooperation between the two fraternal nations.
