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Saudi oil facility likely in next few days

RECORDER REPORT

Thursday, 28 Aug, 2008 4:41 am

KARACHI : Saudi authorities have assured Pakistan delegation that Saudi oil facility against deferred payment will be started very soon, according to well-placed official sources. Saudi Foreign Minister Saud Al Faisal reportedly told his Pakistani counterpart Shah Mahmood Qureshi who also holds the portfolio of petroleum ministry that the Saudi government fully appreciated the position of Pakistan's economy, which is under immense pressure.

"We fully understand it's not a time of procrastination, it's time of action," the Saudi minister was quoted as saying during his talks with the Pakistani team members who met him on Wednesday. According to sources, the Saudi minister has assured the Pakistan team that oil facility will be started "as early as possible". The sources believed that the facility is likely to come into effect in the next few days.

Copyright Business Recorder, 2008

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