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

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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.
 
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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.
 
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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.
 
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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.
 
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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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