{"id":307049,"date":"2023-01-13T07:45:46","date_gmt":"2023-01-13T02:45:46","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=307049"},"modified":"2023-01-13T07:45:46","modified_gmt":"2023-01-13T02:45:46","slug":"pakistan-saudia-ink-agreement-to-finance-1bn-oil-derivatives","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/pakistan-saudia-ink-agreement-to-finance-1bn-oil-derivatives\/","title":{"rendered":"Pakistan, Saudia ink agreement to finance $1bn oil derivatives"},"content":{"rendered":"<p> Islamabad<br \/>\nPakistan and the Kingdom of Saudi Arabia inked an agreement on Thursday to finance oil derivatives worth $1 billion, Economic Affairs Ministry confirmed.<br \/>\nThe development comes amid news reports that Saudi Arabia is augmenting plans to increase the amount of investment and deposit in cash-strapped Pakistan which is struggling with a worsening currency crisis.<br \/>\nAccording to an official statement, the agreement was inked by Economic Affairs Secretary Dr Kazem Niaz, and Saudi Fund for Development (SFD) Chief Executive Officer (CEO) Sultan bin Abdulrahman Al-Murshed.<br \/>\nDr Niaz, speaking on the occasion, revealed that the pact was an extension of previously signed agreements in 2019 and 2021 valued at $4.44 billion to finance oil derivatives in Pakistan.<br \/>\nits establishment, he said, the SFD had supported more than 40 projects and programmes in different development sectors valued at approximately $1.4 billion.<br \/>\n\u2018All the programmes were aimed at helping the country achieve its sustainable development goals and build a prosperous future,\u201d he added.<br \/>\nFor his part, SFD CEO said that the agreement emphasised the Kingdom of Saudi Arabia\u2019s commitment to continue supporting the brotherly Islamic Republic of Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad Pakistan and the Kingdom of Saudi Arabia inked an agreement on Thursday to finance oil derivatives worth $1 billion, Economic Affairs Ministry confirmed. The development comes amid news reports that Saudi Arabia is augmenting plans to increase the amount of investment and deposit in cash-strapped Pakistan which is struggling with a worsening currency crisis. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":307075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-307049","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pakistan, Saudia ink agreement to finance $1bn oil derivatives<\/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-saudia-ink-agreement-to-finance-1bn-oil-derivatives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan, Saudia ink agreement to finance $1bn oil derivatives\" \/>\n<meta property=\"og:description\" content=\"Islamabad Pakistan and the Kingdom of Saudi Arabia inked an agreement on Thursday to finance oil derivatives worth $1 billion, Economic Affairs Ministry confirmed. The development comes amid news reports that Saudi Arabia is augmenting plans to increase the amount of investment and deposit in cash-strapped Pakistan which is struggling with a worsening currency crisis. [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/pakistan-saudia-ink-agreement-to-finance-1bn-oil-derivatives\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-13T02:45:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2023\/01\/Page6-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1072\" \/>\n\t<meta property=\"og:image:height\" content=\"619\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written 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