Saudi Arabia provides: Pakistan has started receiving $1.2 billion in petrol on deferred payments from Saudi Arabia, paving the way for the next tranche of the IMF.
Saudi Arabia provides, Senior journalist Mehtab Haider told V News in an interview that Pakistan has started receiving a $100 million monthly oil facility from Saudi Arabia since March, which will be available every month until February next year, with a total value of $1.2 billion.
Mehtab Haider said that the Saudi facility has paved the way for the next tranche of the IMF soon because the international financial institution had demanded that Pakistan obtain a dollar facility from friendly countries. He said that Pakistan is likely to receive investment from Saudi Arabia for Reno Did from the next budget, which will create a favorable investment environment in the country. He said that such investment will bring many benefits to Pakistan and pave the way for bringing more investment into the country.
Mehtab Haider said that government agencies and institutions have evidence that the sugar industry in Pakistan wanted to increase the price of sugar to Rs220 per kg, which is why the price of sugar was fixed at Rs165 per kg by intervening. However, he said that the current government’s permission to export sugar last year had increased the price of sugar in the country from Rs135 to Rs180 per kg.
Mehtab Haider said that the country’s economy has not improved much, but it has improved, which is clearly indicated by the country’s foreign exchange reserves and the decline in the inflation rate, and the stock market is also improving. However, he said that the growth rate has not increased yet, due to which the effects of the improvement are not reaching the people.
Mehtab Haider said that the tax reduction package regarding the property sector is likely to be presented in the next budget after the approval of the IMF.