Pakistan and Saudi Arabia sign $1 billion deal in oil sector


Islamabad: Pakistan and Saudi Arabia will sign deals worth over $1 billion in the oil sector in the near future. through the Saudi Development Fund Saudi news channels reported on Wednesday.

“The coming days will see the signing of an agreement between the Kingdom and Pakistan through the Saudi Development Fund for the Development of Oil Derivatives an additional one billion dollars,” said Ambassador Nawaf al-Maliki. The Saudi to Pakistan quoted the Saudi channel Al-Khabaria as saying.

a day earlier The Saudi news agency said Crown Prince Mohammed bin Salman bin Abdulaziz al Saud and Prime Minister Saudi investments in PakistanWhich was previously announced on August 25, 2022 and is expected to reach $ 10 billion.

SPA said that Crown Prince The Crown Prince has also ordered the Saudi Development Fund (SDF) to study increasing the amount of deposits that Saudi Arabia provides to support the Bank of Pakistan (SBP). Let’s hit the $5 billion ceiling.

Saudi Arabia’s official news agency said The move strengthened the Kingdom’s position in supporting Pakistan’s economy and supporting its people. The report states that The move followed communications between the Crown Prince and Prime Minister Muhammad Shehbaz Sharif.

Earlier in December 2022 Saudi Arabia extends deadline for $3 billion deposits with Pakistancentral bank

It is necessary to mention here that COAS’ General Asim Munir made an official visit to Saudi Arabia and the United Arab Emirates from January 4 to January 10, according to Inter-Services Public Relations. ISPR)

Chief of Staff of the Army (COAS) General Asim Munir also met with Crown Prince Mohammed bin Salman of Saudi Arabia in Riyadh.

Read more: COAS General Asim Munir meets with the Prince of Saudi Arabia

during the meeting The Crown Prince of Saudi Arabia congratulated General Asim Munir, who took office last year. The meeting discussed bilateral relations. defense cooperation and other matters between two Islamic states


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