Pakistan bids to slash current account deficit via Saudi oil loan facility

KARACHI: Pakistan and Saudi Arabia this week agreed to put a $1.2 billion Saudi oil facility into operation at the “earliest,” allowing Islamabad to defer payments for oil imports that economic experts hope will help stave off a current account crisis. The $4.2 billion Saudi support package, which included a $1.2 billion oil loan facility, was agreed during Prime Minister

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