Saudi Arabia offers oil credit facility again
ISLAMABAD, Jun 3 (APP): Saudi Arabia has offered one-year credit facility on oil payments, on the pattern of 1998 oil credit facility. The government is taking stock of the offer and, if finalized the agreement will be signed between the two countries. The agreement will be signed at the time of the Prime Minister Syed Yousaf Raza Gilani’s state visit to Saudi Arabia soon, Geo News reported.
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Full Version: Saudi Arabia Offers Oil Credit Facility Again
thank you dear
saudi role in pakistans progress is unforgetable. and appreciated.
regards
saudi role in pakistans progress is unforgetable. and appreciated.
regards
Isnt it a surprise whenever there is democracy, Pakistan needs oil on deferred payment?
So does this mean that the price of gasoline would remain where it is and not sky rocketing toward Rs. 200 per liter whne it would not be able to subsidize it at Rs. 30 per liter??
Saudi Arabia has always been generous towards Pakistan
Everlasting Friendship :thumps up:
Everlasting Friendship :thumps up:
Very well said. SA has always been a true brother. A brother that never said no in the hour of need. Now, will the common man benefit as brother dizasta has rightly questioned? That's a different story...
Thank you very much ... but 1 year is nothing for this govt. ... I just hope we can come around our weaknesses .. and don't bother our friends every year !
I am not sure if this will benefit the people of Pakistan in any way or other, beside the rulers.
Saudia Arabia comes to the rescue with a few more billions!
Now when Saudia Arabia promotes Nawaz as its man in Pakistan, The Pakistanis here should not complain about Saudi interference.
Now when Saudia Arabia promotes Nawaz as its man in Pakistan, The Pakistanis here should not complain about Saudi interference.
As always Saudi again is helping Pakistan but it will into pockets of our leaders and make no difference to the people, I think Pakistan needs a revolution.
S. Arabia to give $300m to offset deficit
By Amin Ahmed
RAWALPINDI, June 4: Saudi Arabia is expected to provide Pakistan with a grant of $300 million to offset the burden on country’s economy in the wake of rising fuel prices.
This indication was given by the Saudi Ambassador in Pakistan Ali S. Awadh Asseri, while speaking to newsmen in Rawalpindi on Wednesday. He said Saudi Arabia fully realised the difficulties being faced by Pakistan following rising fuel prices and food crisis, and during the upcoming visit of Prime Minister Yousuf Raza Gilani to the kingdom, several matters will be discussed to further improve economic relations between the two brotherly countries.
Ambassador Asseri said the Saudi Embassy in Islamabad and its consulate was issuing work visas to approximately 1,200 Pakistanis every day, which reflects kingdom’s close relationship with Pakistan.
Earlier addressing the members of Rawalpindi Chamber of Commerce and Industry (RCCI), the Saudi envoy called for greater partnership between private sectors of the two countries. There is enormous scope for expanding trade and economic relations.
“Given political and investment security, Pakistan remains a good place for investment, he added.” Saudi investors have made huge investments in countries that ensure political and investment security, he said.
At the same time, Pakistani businessmen should also take steps to invest in Saudi Arabia where unprecedented liberalisation of policies has contributed to facilitate foreign investment.
By Amin Ahmed
RAWALPINDI, June 4: Saudi Arabia is expected to provide Pakistan with a grant of $300 million to offset the burden on country’s economy in the wake of rising fuel prices.
This indication was given by the Saudi Ambassador in Pakistan Ali S. Awadh Asseri, while speaking to newsmen in Rawalpindi on Wednesday. He said Saudi Arabia fully realised the difficulties being faced by Pakistan following rising fuel prices and food crisis, and during the upcoming visit of Prime Minister Yousuf Raza Gilani to the kingdom, several matters will be discussed to further improve economic relations between the two brotherly countries.
Ambassador Asseri said the Saudi Embassy in Islamabad and its consulate was issuing work visas to approximately 1,200 Pakistanis every day, which reflects kingdom’s close relationship with Pakistan.
Earlier addressing the members of Rawalpindi Chamber of Commerce and Industry (RCCI), the Saudi envoy called for greater partnership between private sectors of the two countries. There is enormous scope for expanding trade and economic relations.
“Given political and investment security, Pakistan remains a good place for investment, he added.” Saudi investors have made huge investments in countries that ensure political and investment security, he said.
At the same time, Pakistani businessmen should also take steps to invest in Saudi Arabia where unprecedented liberalisation of policies has contributed to facilitate foreign investment.
Saudi Arabia offers $300m special grant to Pakistan
(By a correspondent)
7 June 2008
ISLAMABAD - Saudi Arabia will offer $300 million special grant to help improve Pakistan's ailing economy in the wake of rising fuel prices.
"Saudi Arabia fully realises the difficulties being faced by Pakistan following rising fuel prices and food crisis and would disburse this $300 million shortly," said Saudi Ambassador to Pakistan, Ali S. Awadh Asseri.
Talking to reporters here on Thursday he also said that during the upcoming visit of Prime Minister Yousuf Raza Gillani to the kingdom, several matters will be discussed to further improve economic relations between the two countries.
"The amount of $300 million would be gift to Pakistan as we are committed to Pakistan and would do whatever we can whole- heartedly," the ambassador said.
Ambassador Asseri said the Saudi Embassy in Islamabad and its consulate was issuing work visas to approximately 1,200 Pakistanis every single day, which reflects kingdom's close relationship with Pakistan.
Earlier, addressing the members of Rawalpindi Chamber of Commerce and Industry (RCCI), the Saudi envoy called for greater partnership of private sectors of the two countries. There is enormous scope for expanding our trade and economic relations.
"Though there is continuing interaction at the level of governments, I want to encourage the interaction at the private sector level so that economic relations between our two countries could expand at a faster pace.
Given political and investment security, Pakistan remains a good place for investment. However, this should be viewed in the context that the Saudi investors have made huge investments in countries that ensure political and investment security, he said.
At the same time, Pakistani businessmen should also take steps to invest in Saudi Arabia where unprecedented liberalisation of policies has contributed to facilitate foreign investment there.
Quoting Saudi Arabian Investment Authority (SAGIA), Ambassador Asseri said there were currently 264 independent foreign projects of Pakistani origin in Saudi Arabia and there remains a dire need for Pakistani businessmen to enhance and expand their interaction with their Saudi partners.
The Saudi envoy referred to the different protocol agreements between Pakistan and Saudi Arabia, and said there is now a need for translating these agreements into actions so that benefits could accrue to the people of the two countries.
This will not only lead to a continuity of relationship in all areas that are of importance to the two brotherly countries, but would also lend greater meaning and depth to the existing relations and expose them to continual expansion on a regular basis in the future without any interruption, he said.
"We must not lose any time to expand economic relations and immediately initiate measures to enhance the scope of trade and commerce between the two countries," he declared.
Ambassador Asseri regretted that there is no direct trade between the two countries and this lacking is a matter of great concern for Saudi Arabia. Currently, most of the trade between Saudi Arabia and Pakistan is transacted through other capitals.
(By a correspondent)
7 June 2008
ISLAMABAD - Saudi Arabia will offer $300 million special grant to help improve Pakistan's ailing economy in the wake of rising fuel prices.
"Saudi Arabia fully realises the difficulties being faced by Pakistan following rising fuel prices and food crisis and would disburse this $300 million shortly," said Saudi Ambassador to Pakistan, Ali S. Awadh Asseri.
Talking to reporters here on Thursday he also said that during the upcoming visit of Prime Minister Yousuf Raza Gillani to the kingdom, several matters will be discussed to further improve economic relations between the two countries.
"The amount of $300 million would be gift to Pakistan as we are committed to Pakistan and would do whatever we can whole- heartedly," the ambassador said.
Ambassador Asseri said the Saudi Embassy in Islamabad and its consulate was issuing work visas to approximately 1,200 Pakistanis every single day, which reflects kingdom's close relationship with Pakistan.
Earlier, addressing the members of Rawalpindi Chamber of Commerce and Industry (RCCI), the Saudi envoy called for greater partnership of private sectors of the two countries. There is enormous scope for expanding our trade and economic relations.
"Though there is continuing interaction at the level of governments, I want to encourage the interaction at the private sector level so that economic relations between our two countries could expand at a faster pace.
Given political and investment security, Pakistan remains a good place for investment. However, this should be viewed in the context that the Saudi investors have made huge investments in countries that ensure political and investment security, he said.
At the same time, Pakistani businessmen should also take steps to invest in Saudi Arabia where unprecedented liberalisation of policies has contributed to facilitate foreign investment there.
Quoting Saudi Arabian Investment Authority (SAGIA), Ambassador Asseri said there were currently 264 independent foreign projects of Pakistani origin in Saudi Arabia and there remains a dire need for Pakistani businessmen to enhance and expand their interaction with their Saudi partners.
The Saudi envoy referred to the different protocol agreements between Pakistan and Saudi Arabia, and said there is now a need for translating these agreements into actions so that benefits could accrue to the people of the two countries.
This will not only lead to a continuity of relationship in all areas that are of importance to the two brotherly countries, but would also lend greater meaning and depth to the existing relations and expose them to continual expansion on a regular basis in the future without any interruption, he said.
"We must not lose any time to expand economic relations and immediately initiate measures to enhance the scope of trade and commerce between the two countries," he declared.
Ambassador Asseri regretted that there is no direct trade between the two countries and this lacking is a matter of great concern for Saudi Arabia. Currently, most of the trade between Saudi Arabia and Pakistan is transacted through other capitals.
Saudi to supply oil worth $4.82 bn to Pak
Saudi Arabia is likely to supply crude oil worth $4.82 billion on soft terms to Pakistan to help it overcome a major financial crunch.
PPP co-chairman Asif Ali Zardari obtained the crucial oil facility of 110,000 barrels a day on a two-year credit line following his meetings with top Saudi leaders, the Business Recorder quoted sources in the petroleum ministry as saying.
Zardari was able to restore the Saudi special oil facility (SOF) that Pakistan had enjoyed during the tenure of former premier Nawaz Sharif's government after it conducted nuclear tests in 1998, the sources said.
The facility was extended after the world community slapped sanctions on Pakistan in response to the nuclear tests. Several Saudi companies have also agreed to invest billions of dollars in Pakistan's infrastructure, provided the government works effectively to restore political stability and improve law and order.
Sources said Saudi Arabia has earlier provided 80,000 barrels a day against deferred payments or SOF soon after the imposition of sanctions on Pakistan in 1998.
It was in 2003 that then Prime Minister Mir Zafarullah Jamali demanded that the Saudi government either enhance the SOF or increase the number of Hajis from Pakistan by 50,000.
The Saudi government allowed Pakistan an increase in the number of Hajis and withdrew the SOF.
Saudi Arabia and UAE are currently providing Pakistan crude oil against payments deferred for 30 days, sources said. Pakistan imports 82 per cent of its annual requirement of oil — around 250,000 barrels a day from Saudi Arabia, 150,000 from Abu Dhabi, 18,000 from Qatar and 15,000 from Iran.
The refining capacity of Pakistan is limited and the country has to import its requirements of diesel, kerosene and furnace oil from different sources in the West Asia.
Saudi Arabia is likely to supply crude oil worth $4.82 billion on soft terms to Pakistan to help it overcome a major financial crunch.
PPP co-chairman Asif Ali Zardari obtained the crucial oil facility of 110,000 barrels a day on a two-year credit line following his meetings with top Saudi leaders, the Business Recorder quoted sources in the petroleum ministry as saying.
Zardari was able to restore the Saudi special oil facility (SOF) that Pakistan had enjoyed during the tenure of former premier Nawaz Sharif's government after it conducted nuclear tests in 1998, the sources said.
The facility was extended after the world community slapped sanctions on Pakistan in response to the nuclear tests. Several Saudi companies have also agreed to invest billions of dollars in Pakistan's infrastructure, provided the government works effectively to restore political stability and improve law and order.
Sources said Saudi Arabia has earlier provided 80,000 barrels a day against deferred payments or SOF soon after the imposition of sanctions on Pakistan in 1998.
It was in 2003 that then Prime Minister Mir Zafarullah Jamali demanded that the Saudi government either enhance the SOF or increase the number of Hajis from Pakistan by 50,000.
The Saudi government allowed Pakistan an increase in the number of Hajis and withdrew the SOF.
Saudi Arabia and UAE are currently providing Pakistan crude oil against payments deferred for 30 days, sources said. Pakistan imports 82 per cent of its annual requirement of oil — around 250,000 barrels a day from Saudi Arabia, 150,000 from Abu Dhabi, 18,000 from Qatar and 15,000 from Iran.
The refining capacity of Pakistan is limited and the country has to import its requirements of diesel, kerosene and furnace oil from different sources in the West Asia.
A TRUE & TIME TESTED FRIEND.
don't be so naive guys,
there is no such thing as a free lunch. SA helps Pakistan because it sees its future security needs being met by the only muslim country with a credible defence posture; Pakistan.
If Iran gets nuclear weapons, SA will look to Pakistan for defence.
there is no such thing as a free lunch. SA helps Pakistan because it sees its future security needs being met by the only muslim country with a credible defence posture; Pakistan.
If Iran gets nuclear weapons, SA will look to Pakistan for defence.
QUOTE(Wing Commander @ Jun 17 2008, 07:26 AM) 
don't be so naive guys,
there is no such thing as a free lunch. SA helps Pakistan because it sees its future security needs being met by the only muslim country with a credible defence posture; Pakistan.
If Iran gets nuclear weapons, SA will look to Pakistan for defence.
there is no such thing as a free lunch. SA helps Pakistan because it sees its future security needs being met by the only muslim country with a credible defence posture; Pakistan.
If Iran gets nuclear weapons, SA will look to Pakistan for defence.
I agree. There is no free lunch. I really hope the govt of pakistan rejects it. This would go against the very sense of honour that a country stands on. please if this is free money..spend it on educating and creating employement.
Why are oil imports from Iran so low?
QUOTE(Wing Commander @ Jun 17 2008, 10:26 PM)
don't be so naive guys,
there is no such thing as a free lunch. SA helps Pakistan because it sees its future security needs being met by the only muslim country with a credible defence posture; Pakistan.
If Iran gets nuclear weapons, SA will look to Pakistan for defence.
there is no such thing as a free lunch. SA helps Pakistan because it sees its future security needs being met by the only muslim country with a credible defence posture; Pakistan.
If Iran gets nuclear weapons, SA will look to Pakistan for defence.
I see the morons are out again Who's going to be invading SA? America with all the billions of dollars they've invested there. American's already have Hundreds thousands of troops stationed in Arabia.
When Saudi got in trouble with Iraq did Pakistan get the call up or the yankees for GW1? The military budget for SA is in the tens of billions. While Pakistan's probably isn't touching the 10 billion mark.
The American's are making just as much money out of oil as the Saudi's are> No invasion needed.
Then who? India? China? Russia? A eurpean Country? Can Pakistan defend itself against an American invasion?
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