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

[RIP Pak LAW]

I guess the conditions put by IMF won’t be stern like before.

Govt is hoping to borrow around $7-8 billion only from IMF not $ 12.

 

[Kabira]

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.

 

[Peaceful Civilian]

So 3 + 3 = 6 Billion dollars. Thank you Saudi Arabia.
Also if we include investment, oil refinery, can’t wait to see projects get materialize.

 

[Hareeb]

That's not aid.

Whatever you like to call it i.e. aid or financial support.

 

[RIP Pak LAW]

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.

 

[salman77]

Offtopic, but what happened to the $ 1 Billion from Malaysia?

 

[RIP Pak LAW]

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.

 

[Kabira]

• 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.

 

[BHarwana]

@Indus Pakistan now you believe bro?

 

[HariPrasad]

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.

 

[RIP Pak LAW]

Offtopic, but what happened to the $ 1 Billion from Malaysia?

what ?

All I know is, Imran Khan visiting Malaysia on Oct 28.

 

[Kabira]

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.

 

[Hareeb]

Offtopic, but what happened to the $ 1 Billion from Malaysia?

It was a fake news and the propagated amount was $2 billion.

 

[Metanoia]

PM Imran Khan is accorded the due respect, unlike the other two Khnzeers, Khinzeer Sharif and Khnzeer Zardari.

 

[Tps43]

Offtopic, but what happened to the $ 1 Billion from Malaysia?

2
We will know that on 28th