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Negotiations are underway to buy oil borrowed from Saudi Arabia, the finance minister said – IG News

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Negotiations are underway to buy oil borrowed from Saudi Arabia, the finance minister said

Federal Finance Minister Shaukat Tareen has said that talks are underway to buy oil on loan from Saudi Arabia.

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Speaking on Geo News program ‘New Pakistan’, Shaukat Tareen said that Saudi Arabia has promised to give this concession to Pakistan.

Shaukat Tareen said it was not yet clear how much oil Pakistan wanted to borrow.

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Earlier, in the National Assembly, despite the noise and protests by the opposition, Finance Minister Shaukat Tareen presented the federal budget of Rs 8,487 billion for the financial year 22-2021.

As soon as Federal Finance Minister Shaukat Tareen started his budget speech in the National Assembly, the opposition started protesting and making noise.

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The Finance Minister put on headphones to avoid the noise of the opposition. Despite the noise of the opposition, Shaukat Tareen continued his budget speech.

Finance Minister Shaukat Tareen said that it was an honor for me to present the third budget of the government. Under the leadership of Imran Khan, the economy was brought to the shore from many storms. We were facing bankruptcy due to debts.

He said that there are difficulties but the economy has been given a solid foundation and now the economy is moving towards development and prosperity.

He said that the target of economic growth for the next financial year has been set at 4.8% in the federal budget. The current account deficit was a huge challenge in 2018 and it has been overcome. The current account deficit has become surplus, 20 billion. The current account deficit was surplus in April 2021.

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