1.2bn

Pakistan ‘seeks’ $1.2bn Saudi oil facility for 12 months D_Trends

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Pakistan ‘seeks’ .2bn Saudi oil facility for 12 months D_Trends

General view of an oil refinery and oil terminal in Saudi Arabia on May 21, 2018. —Reuters Islamic Development Bank has been requested for $400mn loan. Gulf commercial banks, SCB have been requested for $1bn loan. Pakistan requires commercial re-financing of $4 billion this year. ISLAMABAD: In a bid to bridge the $2-2.5 billion financing gap … Read more

Pakistan seeks $1.2bn Saudi oil facility to bridge IMF financing gap D_Trends

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Pakistan seeks .2bn Saudi oil facility to bridge IMF financing gap D_Trends

Pakistan has formally requested a $1.2 billion Saudi Oil Facility to help cover the $2-2.5 billion financing shortfall identified by the International Monetary Fund (IMF) for the current fiscal year.  In a meeting with Saudi Ambassador Nawaf Bin Said Al-Malki on Wednesday, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb expressed Pakistan’s commitment to … Read more