Monday, November 29, 2021

ਵਾਹਿਗੁਰੂ

spot_img
yes punjab punjabi redirection

Lokan Da Channi

Channi 8

Bijli Bill

36000

Sada CM

Hunarmand

Mera Ghar

Kisan Karza

Markfed Sept to Nov

Innokids Green

Saudi Arabia agrees to revive financial support to Pakistan

- Advertisement -

New Delhi, Oct 27, 2021- Saudi Arabia has agreed to revive its financial support to Pakistan, including about $3 billion in safe deposits and $1.2bn to $1.5bn worth of oil supplies on deferred payments, Dawn reported.

An agreement to this effect was reached during the visit of Pakistan Prime Minister Imran Khan to the kingdom this week, a senior government official told Dawn. However, a formal announcement would be made by the PM’s adviser on finance and revenue Shaukat Tarin and Energy Minister Hammad Azhar on Wednesday at a news conference.

The development was later confirmed in a midnight tweet by Information Minister Fawad Chaudhry. “Saudi Arabia’s announcement support Pakistan with 3 billion US dollars as deposit in Pakistan central bank and also financing refined petroleum products with 1.2 billion US dollars during the year,” he wrote.

The Saudi government would immediately deposit $3bn in Pakistan’s account for a year and keep it rolling at least until the completion of the IMF programme in October 2023, the official earlier said, as per the report.

The facility is expected to help Pakistan convince the IMF about its financing plan. In addition, the Saudi government would provide crude oil to Islamabad on deferred payments worth up to $1.5bn per annum.

Saudi Arabia had also provided $3bn in cash deposits and promised a $3bn oil facility to Pakistan to help the latter shore up its foreign exchange reserves in 2018. However, as the bilateral relations deteriorated later Islamabad had to return $2bn of the $3bn deposits, the report added. (Agency)

Subscribe to YesPunjab Telegram Channel & receive important news updates

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

20,369FansLike
112,995FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

Taliban Fighters

The ‘Good’, the ‘Bad’ and the ‘Deobandi’ Taliban – by Asad Mirza

While an effort to classify the Taliban into good and bad is rather easy, the underlying reasons to classify them as Deobandi becomes a...
Interest Rates

When you (and everyone else) expect interest rates to rise – by Suyash Choudhary

The last few weeks have been notable from a global rates environment standpoint, particularly in developed markets. Markets across many such geographies have brought...
Diwali Diya

Diwali resolution we need in Covid times for a breathable future – by Dr Rajat Arora

The much-awaited festival of lights stands at our threshold -- the harbinger of peace and prosperity. With the economy coming back on track after...

SPORTS

Health & Fitness

Device alerts risk of heart attack

This device alerts risk of heart attack due to over exercising

New Delhi, Nov 28, 2021- There have been reports of sudden death of some film actors and other big personalities. Despite being healthy and young, these deaths happened due to cardiac arrest. Experts say a big reason for this is excessive exercise. IIT scholars have now come up with an innovative device that will raise an alarm about the risk...

Gadgets & Tech