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In a major development the Saudi Arabia government has agreed to restart oil assistance for Pakistan worth at least $1.5 billion from July this year.
In 2018, Saudi Arabia had agreed to a $6-billion financial package for Pakistan’s ailing economy. The package included $3bn for the balance of payments and another $3bn in deferred payments on oil imports.
However, Pakistan has not received oil on deferred payments from Saudi Arabia since May 2020.
