Pakistan PM Imran Khan concludes his successful visit of Saudia Arabia, and is flying back home tonight. It is indeed a sigh of relief, for PTI Government, as PM Imran Khan along with Pakistan Finance Minister Asad Umer has skillfully managed 3 Billion Dollar’s interest free parking for 1 year in National Treasury of Pakistan. An additional 3 billion USD worth of oil Imports on deferred payment for 3 years, makes a wealthy 12 Billion USD Package for next 3 Years.
PM Imran Khan is seen off by Pakistani staff and Saudi delegates as he concludes his successful visit to Kingdom of Saudi Arabia. KSA will assist Pakistan with an immediate USD 3 Billion deposit whereas deferred payments on import of oil upto another $3 Billion also agreed upon pic.twitter.com/sIdOalsz9X
— Prime Minister's Office, Pakistan (@PakPMO) October 23, 2018
Reduction in visa fee for Pakistani Expatriates along with investment in oil and minerals in Pakistan, is beginning of new era of Pakistan and Saudi Arab’s relationship. This deal with Islamic country has been welcomed positively by Neighboring countries, as another step towards Regional Peace where as Indian Media has refrained criticizing the latest development in the Region.
Saudi Arabia pledges USD 3 billion to Pakistan to address balance-of-payments crisis: Report (PTI)
— NDTV (@ndtv) October 23, 2018
The Ever increasing Oil prices and mounting debts due to currency devalue, has taken PTI Government with a storm since General Elections. Media was critical as Pakistan Finance Minister, Asad Umer, took ages in decided whether to pledge to IMF or find another rescue from current economical trap.
Apart from Saudia Arabia, PTI Chief and PM of Pakistan is eye-ing another Wow Deal with China. Experts are of the opinion that if similar value deal is secured with China in near future will anchor Pakistan new Government further, and Pakistan Government may skip IMF option for now.
In addition to USD 3 billion deposit, it has also been agreed that a one year deferred payment facility for import of oil, up to USD 3 Billion, will be provided by Saudi Arabia to Pakistan. https://t.co/g5pwUcYKw9
— PTI (@PTIofficial) October 23, 2018
With no interest to pay, PM Khan can plan State affairs and backs FM Asad Umer to fix economic issues for long term. Local Industry has taken this news positively as Gas and Petrol Prices may normalize, to beef up Exports. With another hefty Package from China and Russia may help Pakistan fix their Agriculture Trade issues, Export Deficits along with dying PIA and suffocated Pakistan Railways and Pakistan Steel Mill.