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$3billion

Saudi Arabia to provide Pakistan $3billion as balance of payment support

RIYADA: Saudi Arabia on Tuesday agreed to provide Pakistan $3billion for a period of one year as balance of payment support, ARY News reported. According to a statement released from foreign office, a Memorandum of Understanding was signed between Finance Minister Asad Umar and the Saudi Finance Minister Muhammad Abdullah Al-Jadaan stating Saudi Arabia will place a deposit of$3billion for a period of one year as balance of payment support. It was also agreed that a one year deferred payment facility for import of oil,…