The Islamic Development Bank lends Pakistan $ 386 million to purchase...

Mubasher: The State of Pakistan and the International Trade Finance Corporation of the Islamic Development Bank signed a financing agreement amounting to $ 386 million, to be used in importing oil and liquefied gas.

State oil companies of Pakistan Ltd., the Pakistan Arab Refinery Ltd. “Barco” and the Pakistan Liquefied Natural Gas Company Ltd. will use the financial facilities to import oil and liquefied gas, according to the Emirates News Agency, “WAM”, today, Monday.

The Pakistani side emphasized the importance of this agreement and its role in promoting economic and social development.

In another development, remittances from Pakistanis working in the Kingdom of Saudi Arabia amounted to 665 million dollars in September this year, an increase of 29 percent. On the basis of a total, remittances from the Gulf countries and Western countries reached 3 and 2 billion dollars in September this year, according to the Central Bank of Pakistan data.

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