Pakistan has signed an agreement with the Saudi Fund for Development (SFD) to defer a $1.2 billion payment for oil imports by one year. The deal, signed in Islamabad, comes as Pakistan seeks economic relief while strengthening ties with Saudi Arabia.
Pakistan and Saudi Arabia signed an agreement on Monday to defer a $1.2 billion oil payment for one year, providing economic relief to Islamabad’s struggling economy.
The Saudi Fund for Development (SFD) delegation, led by CEO Sultan Bin Abdul Rehman Al Murshad, met with Prime Minister Shehbaz Sharif to finalize the deal. The agreement allows Pakistan to receive Saudi oil on a deferred payment basis, easing pressure on foreign exchange reserves.
Prime Minister Shehbaz Sharif welcomed the oil import financing facility, emphasizing Saudi Arabia’s continued support for Pakistan’s financial stability.
In addition to the oil deferral, the Saudi Fund will provide $41 million for a water supply project in northwest Pakistan, aiming to improve access to clean drinking water for 150,000 people.
The agreement marks another step in Pakistan’s economic cooperation with Saudi Arabia, as the country continues efforts to stabilize its economy and address financial challenges.
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Oliver Stone and James DiEugenio testified before the U.S. House on April 1, 2025, urging a reopening of the investigation into John F. Kennedy's 1963 assassination, citing new documents and inconsistencies in the official account.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
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Elon Musk has reclaimed his position as the world's richest individual, surpassing Bernard Arnault on Forbes' 39th Annual Billionaires list, while President Donald Trump has seen his wealth more than double, highlighting significant shifts in the global financial landscape.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 2nd, covering the latest developments you need to know.
Oliver Stone and James DiEugenio testified before the U.S. House on April 1, 2025, urging a reopening of the investigation into John F. Kennedy's 1963 assassination, citing new documents and inconsistencies in the official account.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
Elon Musk has reclaimed his position as the world's richest individual, surpassing Bernard Arnault on Forbes' 39th Annual Billionaires list, while President Donald Trump has seen his wealth more than double, highlighting significant shifts in the global financial landscape.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 2nd, covering the latest developments you need to know.
Oliver Stone and James DiEugenio testified before the U.S. House on April 1, 2025, urging a reopening of the investigation into John F. Kennedy's 1963 assassination, citing new documents and inconsistencies in the official account.
The White House confirmed on Tuesday that President Donald Trump will impose a new wave of tariffs on Wednesday, escalating fears of a deepening global trade war. The announcement, set for 4 p.m. ET in the Rose Garden, marks the culmination of weeks of warnings and speculation.
Australian Prime Minister Anthony Albanese and opposition leader Peter Dutton have both pledged to defend the country’s national interests as the United States signals possible tariffs targeting Australian beef exports.
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