Pak-Saudi agreement on deferred payments for oil to be announced within days — finance minister 

ISLAMABAD: Pakistani Finance Minister Shaukat Tarin said on Wednesday Islamabad had reached an agreement with Saudi Arabia for another oil facility on deferred payments which would be formally announced within the next two to three days, local media reported.
The development comes as Pakistan's foreign exchange reserves continue to shrink because of an increase in the prices of petroleum products, export-import disparity and depreciation in the value of the Pakistani rupee.
Petroleum prices in Pakistan are likely to go further up as the country's oil and gas regulator has recommended an increase of another Rs5.5 in the price of petrol from October 1.
“They [Saudi Arabia] are not only considering another oil facility on deferred payments but an agreement has almost been reached that would hopefully be made public in two or three days,” Tarin said while testifying before the National Assembly in response to a question.
Tarin said Riyadh had provided a substantial package to Pakistan that included oil supplies on deferred payments and cash assistance.
"They provided us $5 billion in cash and took it back slowly, slowly," he said. "As we speak, Saudi Arabia is considering another oil facility on deferred payments on request to absorb the impact of rising oil prices in the market."
The minister added that an agreement had been finalized between the two sides.
In 2018, Saudi Arabia had provided $3 billion in cash deposits and promised a $3 billion oil facility to Pakistan to help the country shore up its foreign reserves.