State-owned Pakistan State Oil, Pak-Arab Refinery and Pakistan LNG will receive a $4.5 billion loan to fund imports of crude, petroleum products, urea and LNG over 2021-2023.
Pakistan signed the three-year $4.5 billion loan agreement with Saudi Arabia-based International Islamic Trade Finance Corporation (ITFC), the government said on June 28.
Pakistan signed a similar loan agreement with ITFC in February this year, when the country agreed to borrow $1.1 billion to fund imports of crude, LNG and petroleum products.
The South Asian nation, which started importing LNG in 2015, has two operational floating import terminals, both in Port Qasim near Karachi.