Pakistan seeks Saudi Arabia’s $5bn oil facility, $5bn deposit rollover for 10 years

Pakistan has made eight requests to Saudi Arabia under long-term economic cooperation, including conversion of short-term existing deposits of $5 billion into a long-term facility of 10 years, enhancing oil facility on deferred payment from $1.2 billion to $5 billion with increased tenure, securitisation of Pakistani diaspora’s remittances of $10 billion and others.