{"id":253156,"date":"2022-04-06T04:09:18","date_gmt":"2022-04-05T23:09:18","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=253156"},"modified":"2022-04-06T04:09:18","modified_gmt":"2022-04-05T23:09:18","slug":"pakistan-to-import-32-7m-barrels-of-oil-under-saudi-facility-this-year","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/pakistan-to-import-32-7m-barrels-of-oil-under-saudi-facility-this-year\/","title":{"rendered":"Pakistan to import 32.7m barrels of oil under Saudi facility this year"},"content":{"rendered":"<p> ISLAMABAD<br \/>\nPakistan will import around 32.7 million barrels of crude oil this year under the $1.2 billion Saudi facility that allows Islamabad to defer payments for oil imports.<br \/>\nPakistan is currently facing a wide range of economic challenges, including high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency.<br \/>\nPakistan and Saudi Arabia signed a $4.2 billion Saudi support package, which included the $1.2 billion oil loan facility, during Prime Minister Imran Khan\u2019s visit to Riyadh in October last year.<br \/>\nThe financing agreement for the oil facility was signed last November between the Saudi Fund for Development (SFD) and the Pakistani Economic Affairs Division. In December, Pakistan received the $3 billion loan but the oil facility had yet to be put to use.<br \/>\nThe Pak-Arab Refinery Company Limited and National Refinery Limited are planning to import 16.89 and 15.81 million barrels of oil in the year 2022 respectively. As per the agreement, the crude oil worth 100 million dollars per month for one year could be imported on deferred payment.<br \/>\nPakistan and Saudi Arabia enjoy deep-rooted religious, fraternal and strategic relations.  There are over two million Pakistanis living in the kingdom, who are the biggest source of foreign remittances to Pakistan. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD Pakistan will import around 32.7 million barrels of crude oil this year under the $1.2 billion Saudi facility that allows Islamabad to defer payments for oil imports. Pakistan is currently facing a wide range of economic challenges, including high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency. Pakistan and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-253156","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan to import 32.7m barrels of oil under Saudi facility this year<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/pakistan-to-import-32-7m-barrels-of-oil-under-saudi-facility-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan to import 32.7m barrels of oil under Saudi facility this year\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD Pakistan will import around 32.7 million barrels of crude oil this year under the $1.2 billion Saudi facility that allows Islamabad to defer payments for oil imports. Pakistan is currently facing a wide range of economic challenges, including high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency. 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Pakistan is currently facing a wide range of economic challenges, including high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency. 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