Saudi package, will Pakistan’s economic crisis go away?

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Jamil Sukhera in “Takrar” covered these topics:

Saudi Arabia has agreed to loan Pakistan $3 billion for one year as balance of payment support and to provide a one-year deferred payment facility for oil payments, up to $3 billion, Foreign Office said on Tuesday.

According to a press release issued by by the foreign office, Prime Minister’s visit to Saudi Arabia has resulted in significant understandings between Pakistan and Saudi Arabia.

It said Saudi Arabia will place a deposit of USD 3 Billion for a period of one year as balance of payment support.

It was also agreed that a one year deferred payment facility for import of oil, up to USD 3 Billion, will be provided by Saudi Arabia. This arrangement will be in place for three years, which will be reviewed thereafter.

The prime minister vowed to continue the fight against corruption alleging that Pakistan Peoples Party and Pakistan Muslim League-Nawaz want to get an NRO (National Reconciliation Ordinance) from his government.

He stated that his government will not give any NRO to these parties.

“If these two parties want to take to streets, then they should go ahead with it,” Khan said, promising to provide them containers for camping out.

“Get this loud and clear, there will be no NRO. I will not spare any corrupt individual,” he said.