Pakistan makes fresh requests for oil facility on deferred payment
(WorldNews Pakistan)

ISLAMABAD: The oil facility of $4.7 billion from Saudi Arabia and IDB`s Islamic Trade Finance Corporation (ITFC) on deferred payment has been in a transitory phase as Islamabad has made fresh requests for renewal of both facilities for another one year. Both oil facilities on deferred payments completed first year upon maturity and now Islamabad is waiting for response on its request for extension of another year. The fate of Saudi Oil Facility (SOF) hangs in balance right at the moment. The other day Saudi Arabia asked to pay back $1 billion from deposited money with the SBP and Islamabad was now waiting on formal response on fresh request for extension into oil facility on deferred payment...