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Saudi Arabia provided financial assistance of over four billion dollars, says Tarin

اپ ڈیٹ 28 اکتوبر 2021
Shaukat Tarin addressing a news conference along with Minister for Energy, Hammad Azhar.
Shaukat Tarin addressing a news conference along with Minister for Energy, Hammad Azhar.

ISLAMABAD: Advisor to Prime Minister on Finance Shaukat Tarin has said that financial assistance of over four billion dollars provided by Saudi Arabia would help Pakistan overcome its balance of payment issues.

Addressing a news conference along with Minister for Energy, Hammad Azhar, he said that out of this amount three billion dollars would be placed with the State Bank of Pakistan and 1.2 billion dollars would be provided as oil supplies on deferred payment.

Tarin said that some of the amount has already been released.

Talking about the inflation, Tarin said that oil prices in Pakistan are the lowest as compared to other countries, including regional ones.

He said that talks with IMF are nearing successful completion and assured that within couple of days the programme would be finalized.

Speaking on the occasion, Azhar said that the inflation is a global phenomenon as the whole world is passing through commodity cycle.

He expressed the hope that the world commodity cycle would break within six months and the prices in world market would come down leaving positive impact on inflation in Pakistan.