Miftahrequests for extension to Riyadh's oil facility

Pakistan urges Saudi Arabia withdrawIing deposits given to SBP
Miftahrequests for extension to Riyadh’s oil facility

Finance Minister Miftah Ismail has said that the government has requested Saudi Arabia not to withdraw its deposits given to the State Bank of Pakistan (SBP) and extend its oil facility for Pakistan.

Last month, Miftah said that the IMF had set out five major conditions for the revival of $6 billion bailout package, including the reversal of fuel subsidies and the withdrawal of the tax amnesty scheme.

The other conditions are an increase in electricity tariffs, the imposition of new taxes and ensuring fiscal savings aimed at bringing down the projected primary budget deficit of Rs1.3 trillion to the earlier agreed limit of Rs25 billion surplus, he said while speaking to journalists.

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