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State media: Saudi Arabia to consider helping struggling Pakistan ease oil costs

State media: Saudi Arabia to consider helping struggling Pakistan ease oil costs

Saudi Arabia has agreed to consider deferring Pakistani oil payments as the South Asian nation's economy struggles, state media reported.
The agreement was announced during a three-day visit by Prime Minister Yousuf Raza Gilani and fellow Pakistani leaders to the oil-rich Arab state. The trip included a session with Saudi King Abdullah, according to the state-run Associated Press of Pakistan.
APP reported Saturday the two countries agreed to discuss the potential oil assistance at the ministerial level.
Pakistan imports about 250,000 barrels a day from Saudi Arabia, APP said. Rising oil prices have upped Pakistan's oil bill by more than 40 percent in some 10 months, it reported.
Pakistan faces electricity shortages and soaring inflation among other economic woes.


Updated : 2020-12-03 03:56 GMT+08:00