Pakistan witnessed a significant surge in petroleum imports from Saudi Arabia, reaching $1.182 billion during the fiscal year 2022-23, far surpassing the budgeted estimates of $800 million.
Monthly Breakdown of Saudi Oil Imports
Official documents from the Economic Affairs Division reveal that Pakistan imported petroleum products worth $100 million on a deferred payment basis under the Saudi oil facility in June 2023.
Saudi Arabia’s Continued Support
Saudi Arabia continued to support Pakistan by providing petroleum products worth $100 million each during July to December 2022, further strengthening bilateral ties.
Extended Facility and Future Prospects
In January, Pakistan received oil products worth $90.11 million on deferred payment, while February and March saw imports worth $92.17 million and $100 million, respectively. The extended facility is expected to benefit Pakistan from March 2023 to February 2024.
