Federal cabinet approves agreements with Saudi Arabia

ISLAMABAD (92 News) – The federal government on Saturday approved the agreements with Saudi Arabia through a summary circulation, said sources.

Under the agreement, Saudi Arabia will transfer US$3 billion in the State Bank of Pakistan for a year. Pakistan will pay four percent profit to the Saudi government per year.

Moreover, Saudi Arabia will also give oil worth US$100 million as loan per month.

According to the sources, the agreements draft has been sent to the Law Ministry and the Attorney General office. After the legal opinion, the draft will be sent to the federal cabinet for final approval.