Saudi Arabia Extends Petroleum Supply to Pakistan on Deferred Payment

ISLAMABAD: In a major boost to Pakistan’s economy, Saudi Arabia has decided to continue supplying petroleum products to the country on a deferred payment basis. This development provides significant financial relief, as Saudi Crown Prince and Prime Minister Mohammed bin Salman officially informed Prime Minister Shehbaz Sharif through a letter.

During a subsequent federal cabinet meeting, PM Shehbaz shared the details of the letter, announcing that Saudi Arabia will extend its provision of petroleum products worth $100 million per month for an additional year, through the Saudi Development Fund. Expressing gratitude for this continued support, the Prime Minister emphasized the strengthening of Pakistan-Saudi relations, especially in challenging economic times.

The cabinet meeting also addressed several key governance initiatives. The implementation of the e-office system across federal ministries and divisions was discussed, with officials reporting that 98% of federal divisions have adopted the system. Furthermore, 39 divisions have fully implemented the system, and 21 divisions have integrated it for inter-ministerial coordination. Additionally, 176 subordinate and state-owned institutions have successfully transitioned to digital operations.

PM Shehbaz directed the authorities to ensure the complete digitalization of Pakistan’s missions abroad by March 20, 2025, to enhance services for overseas Pakistanis.

In international matters, the cabinet approved Pakistan’s decision to sign an international treaty under the United Nations Convention on the Law of the Sea, aimed at protecting and sustainably using marine resources in international waters.

Read More: US & Russia Hold Crucial Talks in Saudi Arabia on Ukraine Conflict and Restoring Relations

Several key appointments were also approved, including Kamran Jahangir as Managing Director of the National Book Foundation and Dr. Shahid Aslam Mirza as Managing Director of the Korangi Fisheries Harbour Authority. Furthermore, six candidates were approved for submission for the position of a member representing Islamabad Capital Territory in the National Commission for Human Rights.

The cabinet also approved an agreement with Somalia for cooperation on a national identity system, as well as the review of the registration case of Watim Medical College, Rawalpindi, by the Pakistan Medical and Dental Council. An inquiry commission was approved to investigate irregularities in the Pakistan Engineering Council’s governing body elections.

Other decisions included amendments to the Inland Revenue Appellate Tribunal rules and ratification of decisions made by the Economic Coordination Committee and the Cabinet Committee on Legislative Cases in their respective meetings held on February 14 and 17, 2025.