Pakistan Seeks $5 Billion Deposit Extension and $5 Billion Oil Facility from Saudi Arabia

Pakistan has presented eight key requests to Saudi Arabia for long-term economic cooperation, including converting the existing $5 billion deposit into a 10-year long-term facility.

According to sources, Pakistan has asked the Saudi government to extend and expand financial support measures. One of the main proposals is to convert the current short-term $5 billion deposit into a long-term 10-year arrangement to help strengthen Pakistan’s financial stability.

Another major request includes increasing the deferred oil payment facility from $1.2 billion to $5 billion, along with extending the repayment period.

Pakistan has also proposed the securitization of overseas Pakistanis’ remittances up to $10 billion, along with several other economic cooperation initiatives.

Senior government sources confirmed to The News International that Pakistan’s economic challenges have intensified due to rising geopolitical tensions linked to the ongoing conflict involving Iran, led by United States and Israel.

Officials say discussions between Pakistan and Saudi Arabia on long-term economic cooperation are ongoing. 💰🌍