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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President Donald Trump has named newly confirmed FBI Director Kash Patel as the acting head of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). The move consolidates Patel’s leadership over two major law enforcement agencies during a period of transition.
The Trump administration has ordered U.S. federal employees to submit a list of their work accomplishments by Monday night or risk losing their jobs, raising legal and procedural questions over mass firings.
Israel has delayed the release of hundreds of Palestinian prisoners until Hamas meets its conditions, highlighting tensions over the fragile Gaza ceasefire.
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President Donald Trump has named newly confirmed FBI Director Kash Patel as the acting head of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). The move consolidates Patel’s leadership over two major law enforcement agencies during a period of transition.
The Trump administration has ordered U.S. federal employees to submit a list of their work accomplishments by Monday night or risk losing their jobs, raising legal and procedural questions over mass firings.
French President Emmanuel Macron and British Prime Minister Keir Starmer will travel to Washington next week amid European concerns over Donald Trump’s approach to Ukraine and his outreach to Moscow.
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President Donald Trump has named newly confirmed FBI Director Kash Patel as the acting head of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF). The move consolidates Patel’s leadership over two major law enforcement agencies during a period of transition.
The Trump administration has ordered U.S. federal employees to submit a list of their work accomplishments by Monday night or risk losing their jobs, raising legal and procedural questions over mass firings.
Israel has delayed the release of hundreds of Palestinian prisoners until Hamas meets its conditions, highlighting tensions over the fragile Gaza ceasefire.
French President Emmanuel Macron and British Prime Minister Keir Starmer will travel to Washington next week amid European concerns over Donald Trump’s approach to Ukraine and his outreach to Moscow.
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