3 million billion loan from Saudi Arabia at 4 to 3.8 percent interest rate, Ministry of Finance
The lending country has the power to withdraw the money, in case of any dispute the laws of the lending country apply, Ministry of Finance
The 3 million billion loan from Saudi Arabia was taken at an interest rate of 4 to 3.8 percent, the finance ministry said in a statement. According to the details, the Ministry of Finance has issued a statement on the loan from Saudi Arabia. went.
A spokesman for the finance ministry said the lending country had the authority to withdraw the money, adding that in the event of a dispute, the country's lending laws apply. Saudi Arabia is grateful. It is to be noted that after the recent visit of the Prime Minister to Saudi Arabia, Federal Minister for Information and Broadcasting Fawad Chaudhry had said that Saudi Arabia has announced a 3 million billion support fund for Pakistan. Will deposit in State Bank of Pakistan.
Fawad Chaudhry said that Saudi Arabia would also provide 1. 1.2 billion in financing for refined petroleum products within a year. According to the text, Saudi Arabia will lend 100 million a month to Pakistan and Pakistan will have to pay 3.8% margin along with the payment of oil.
According to sources, the agreement is initially for one year which can be extended later while the Ministry of Finance, SBP and FBR have agreed on the draft of the Pak-Saudi agreement. Khan's visit to Saudi Arabia took place during which the Saudi Crown Prince promised to lend oil to Pakistan for one year.
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