Pakistan Loan from Saudi Arabia on Sheepish Conditionality

Pakistan shall received $ 3 billion cash deposit and $ 1.2 billion deferred payment oil purchase from Saudi Arabia as per agreement between Pakistan and Saudi Arabia and approved by the Cabinet in Pakistan.

As per the Finance Division released, Pakistan shall remain the aid amount in the State bank of Pakistan deposit account for the year and on request bound to return the amount to Saudi Arabia within 72 hours.

The markup is quite high and is 4% p.a. and there is no option for rollover and have to return loan after one year.

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