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Saudi agrees to give Pakistan oil on deferred payment: report

The kingdom is looking to resume investment plans in Pakistan

SAMAA | - Posted: Jun 21, 2021 | Last Updated: 1 month ago
SAMAA |
Posted: Jun 21, 2021 | Last Updated: 1 month ago

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Saudi Arabia will give Pakistan oil worth $1.5 billion on deferred payment in July, the Financial Times reported Monday. Friction between the two countries increased last year after Pakistan’s foreign minister criticized Saudi Arabia over its silence on India’s revocation of Kashmir’s special status. “I am once again respectfully telling the OIC that a meeting of the Council of Foreign Ministers is our expectation,” Qureshi had said in an interview last year. “If you cannot convene it, then I’ll be compelled to ask Prime Minister Imran Khan to call a meeting of the Islamic countries that are ready to stand with us on the issue of Kashmir and support the oppressed Kashmiris.” Pakistan had to repay a loan of $3 billion on Riyadh’s demand. In May, Prime Minister Imran Khan visited Saudi Arabia. His meeting with Saudi Crown Prince Mohammed bin Salman got the ties back on track. A senior Pakistani official told FT that Pakistan’s relationship with Saudi Arabia has recovered and the kingdom will support Islamabad through deferred payments on oil. “Saudis are looking to resume their investment plans in Pakistan,” the official was quoted as saying. Follow SAMAA English on Facebook, Twitter, and Instagram.
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Saudi Arabia will give Pakistan oil worth $1.5 billion on deferred payment in July, the Financial Times reported Monday.

Friction between the two countries increased last year after Pakistan’s foreign minister criticized Saudi Arabia over its silence on India’s revocation of Kashmir’s special status.

“I am once again respectfully telling the OIC that a meeting of the Council of Foreign Ministers is our expectation,” Qureshi had said in an interview last year.

“If you cannot convene it, then I’ll be compelled to ask Prime Minister Imran Khan to call a meeting of the Islamic countries that are ready to stand with us on the issue of Kashmir and support the oppressed Kashmiris.”

Pakistan had to repay a loan of $3 billion on Riyadh’s demand.

In May, Prime Minister Imran Khan visited Saudi Arabia. His meeting with Saudi Crown Prince Mohammed bin Salman got the ties back on track.

A senior Pakistani official told FT that Pakistan’s relationship with Saudi Arabia has recovered and the kingdom will support Islamabad through deferred payments on oil.

“Saudis are looking to resume their investment plans in Pakistan,” the official was quoted as saying.

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