Saudi Economic Package
Saudi economy package: Muhammad Ishaq Dar concerned over reduction of oil ‘deferred payment facility’ by $1.8 bn
Islamabad: Pakistan's former Federal Minister for Finance and Economic Affairs Senator Muhammad Ishaq Dar has claimed that Saudi Arabia reduced oil deferred payment facility from $3 billion to $1.2 billion, media reports said.
Talking to The News on Saturday, the former finance minister expressed gratitude over revival of Saudi economic assistance package but expressed concerns over reduction of oil deferred payment facility as he said, “Good news that existing Saudi deposit with SBP of $1 billion will be topped up by $2 billion to revive it back to $3 billion; bad news that oil deferred payment facility has been reduced from $3 billion to $1.2 billion.”
He added that the Saudi economic assistance package for Pakistan stood revived but reduced from $6 billion to $4.2 billion.
Ishaq Dar asserted that Saudi Arabia had been a great friend and supporter of Pakistan, both at international forums as well as provider of economic assistance in the hour of need, adding that in August 2018, Imran Khan, after assuming office, had declared his preference to seek support from friendly countries instead of going to IMF.
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