Pakistan has requested Saudi Arabia to extend the $1.2 billion Saudi Oil Facility (SOF) for an additional two years after the current term expires. The request has been made as Pakistan continues to implement economic reforms under the ongoing International Monetary Fund (IMF) program.
Senior government sources, while speaking to The News, confirmed that Pakistan has formally submitted a fresh request for the extension of the Saudi Oil Facility until the completion of the IMF program and is now awaiting official approval from Saudi authorities. According to the sources, the extension would help ease pressure on oil imports and support the country’s foreign exchange reserves.
Meanwhile, the Ministry of Petroleum and the Ministry of Finance have refrained from commenting on the matter despite repeated requests for clarification. Due to the lack of official statements, further details regarding the progress of the request remain unclear.
