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Saudia Arab to set Oil Refinery in Pakistan, lend $ 3 Billions dollars & Oil on deferred payment

It's $6 billion in aid: $3 billion for deferred payments of oil and $3 billion to boast reserves.



Moreover, both sides agreed to low working visa fee for Pakistanis.

That's not aid.
 
It's $6 billion in aid: $3 billion for deferred payments of oil and $3 billion to boast reserves.



Moreover, both sides agreed to lower working visa fee for Pakistanis.

Actually as per latest news on TV now.

Its $ 12 billion package from Saudia. $ 3 billion on immediate basis, which will be kept in Pakistani bank for an year.
$ 3 billion of Oil for per year for 3 years. Its payment will be paid by Pakistan on easy terms and later on.
 
That's not aid.

Yes its not an aid.

We will pay it back. This is what Imran Khan wanted as well. Oil refinery will be a game changer for Gwader and Pakistan. Major investment in other sectors is also planned in upcoming months. Saudis want to invest in minerals.
 
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  • It was agreed that Saudi Arabia will place a deposit of US $3 billion for a period of one year as balance-of-payment support. A memorandum of understanding (MoU) was signed in this regard between Finance Minister Asad Umar and Saudi Finance Minister Muhammad Abdullah Al-Jadaan.

  • It was also agreed that a one-year deferred payment facility for import of oil, up to $3 billion, will be provided by Riyadh. This arrangement will be in place for three years, after which it will be reviewed.

  • Saudi Arabia also "confirmed its interest" in investing in a petroleum refinery in Pakistan. An MoU for this project will be signed after the cabinet's approval is obtained.

  • The Kingdom also expressed interest in the development of mineral resources in Pakistan. In this regard, the federal government will hold consultations with the Balochistan government, following which a Saudi delegation will be invited to Pakistan to finalise matters.
 
PM Office official statement:

1) Saudia Arab to set a major Oil Refinery in Pakistan
2) Lend $ 3 Billions dollars into Pakistani bank for 1 year to boost dollar reserves. That money won't be used.
3) Oil on deferred payment for 3 years.

Successful trip!


This is very nice now go for competitive bidding so that that the optimizationoof money can be ensured.
 
Yes its not aid.

We will pay it back. This is what Imran Khan wanted as well. Oil refinery will be a game changer for Gwader and Pakistan. Major investment in other sectors is also planned in upcoming months. Saudis want to invest in minerals.

I still have doubt about oil refinery unless construction start soon. They would rather sell us expensive refined oil. This could end up like one of many MOUs.
 

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