KABUL: The office of the Pakistani Prime Minister has announced that Saudi Arabia will provide free oil to Pakistan for one year.
The Pakistani government, on Monday, signed an agreement with Saudi Arabia’s Development Fund to receive oil worth $1.2 billion at no cost (free).
In a statement, the Prime Minister’s Office stated that Shehbaz Sharif welcomed the initiative from Saudi Arabia, expressing hope that it will help stabilize Pakistan’s economy.
This development comes as Pakistan has sought financial assistance from international financial institutions, trade partners, and, particularly, friendly nations to meet its needs in recent years.