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Pakistan Seeks Long-Term Economic Support from Saudi Arabia
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Pakistan seeks USD 5B long-term Saudi aid, expanded oil facility amid economic crisis
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News18
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09-03-2026, 20:45
Pakistan seeks USD 5B long-term Saudi aid, expanded oil facility amid economic crisis
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Pakistan requests Saudi Arabia to convert USD 5 billion short-term deposits into a 10-year long-term facility.
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Seeks to increase deferred oil facility from USD 1.2 billion to USD 5 billion with an extended 3-year tenure.
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Proposes securitisation of USD 10 billion diaspora remittances to boost forex reserves and reduce borrowing.
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Requests Saudi guarantee for international Sukuk issuance and a concessional credit line for EXIM Bank of Pakistan.
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Also asks for waiving bank guarantee requirements, Public Investment Fund (PIF) investments, and IMF program target adjustments.
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