Arrival of Abu Dhabi Crown Prince to Pakistan may likely bring oil worth $3.2 billion on deferred payments

ISLAMABAD: According to sources, Pakistan is likely to get oil worth $3.2 billion on deferred payments from United Arab Emirates this month.

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Sources within the Petroleum Division said Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan is expected to announce the facility for Pakistan during his visit to the country starting January 6.

They said Pakistan is also likely to get $1.5 billion loan from Islamic Development Bank’s International Islamic Trade Finance Corporation (ITFC) for the import of liquefied natural gas (LNG) on deferred payment facility.

Currently, Pakistan is importing LNG worth $4.5 billion annually.

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