Pakistan to get US$2billion worth of oil from Kuwait

[Lankan Ranger]

Pakistan to get US$2billion worth of oil from Kuwait

Kuwait on Saturday has agreed to provide US$2billion worth of oil on deferred payment to Pakistan.

The agreement between the two countries is expected to be signed in the next ten days.

Pakistan to get $2bn worth of oil from Kuwait | Buisness | DAWN.COM

 

[PeacefulIndian]

Which means Kuwait rejected the plea for the free oil.

http://www.defence.pk/forums/current-events-social-issues/95519-pakistan-seek-free-oil-kuwait.html

And oil from Kuwait to Pakistan on deferred payments is nothing new, it has been going on since last 3(?) years. What is the deferred period? It used to be 2 months I think.

 

[F-16_Falcon]

Arabs are always friends of Pakistan.

 

[ares]

Nobody gives out free oil..it was always suppose to be on a loan(that is just misreporting)
But Pakistan approaching Kuwait for defered payments means that Pakistan's budget deficit situations is really very serious, such that it can no longer afford to pay for imports.

Pakistan's external debt is further going to increase by $2 Billion..yesterday was reading that Pakistan spends 60% of its budget on debt servicing and defence alone.

 

[Hyde]

well Pakistan has always been buying oil on deferred payments

simply because the Arabs allow us to buy on deferred payments

Whenever the government asks them for help (free money/oil) they come up with "Buy now pay later" strategy

 

[ares]

well Pakistan has always been buying oil on deferred payments

simply because the Arabs allow us to buy on deferred payments

Whenever the government asks them for help (free money/oil) they come up with "Buy now pay later" strategy

As far I remember in recent times it has resorted to deferred payment 3 times
After 1998 Nuclear test, when it was under global sanctions from Saudis.
In 2008 economic crisis, it approached first Iran ( but was refused) and then Saudis.
And Now.

 

[EjazR]

BPCL raises oil supplies from UAE, SaudiAbove article was supposed to be posted in the Indian Economy thread.

On topic, the recent wikileaks have shown that traditional free oil supplies from countries like Saudi Arabia are not coming through because they don't trust Zardari's regime. There are multiple problems facing Pakistan and being able to pay for oil is just one of them as the proce of oil will keep increasing in the future.

 

[ice_man]

first rule of economics is there is nothing as free lunch!!! i am sure pakistan is giving something of ALOT OF VALUE in return! most probably land for agriculture!! and all the produce from it going back to kuwait....

 

[Malik Usman]

And who said to u that Pakistan is asking for free Oil.

 

[fatman17]

^^^the arab regimes of kuwait, RSA etc will require the services (as in the past) of the PA to 'quell' any uprisings in their countries. this is the main reason for the accomodations now being offered.

 

[Nair saab]

Arabs are always friends of Pakistan.

I will mark ur post... next time when u call arabs traitors of umma...

 

[Realist]

Arabs are always friends of Pakistan.

No, they are businessmen.

 

[Cheetah786]

I will mark ur post... next time when u call arabs traitors of umma...

Keep dreaming these people are willing to destroy their country for Arabs and u want him to say something Bad against them.

No, they are businessmen.

Who in the world doesn't no how good of a business Arabs Run.

 

[Secret Service]

i think it is a written statement just to show world that it is not free...But i think Pakistan is Not going to pay for next 10 years.

 

[Rao Sahab]

2 billion is going to zardari pocket