The three MOUs will be signed in the fields of oil refining, liquefied natural gas and mineral development.
The Kingdom last year had stepped forward with a $6 billion bailout package for Pakistan’s ailing economy.
Information minister says MoU is expected to be signed in February.
SBP says third deposit expected from Riyadh in January 2019.
Asad Umar says he keeps getting messages from Saudi crown prince "to hurry up" on approval, announcement of package.
The $1 billion are part of the $3bn package promised by the kingdom during the visit of Prime Minister Imran Khan.
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Riyadh comes again to Islamabad’s rescue — third in two decades.
Asad Umar dispels the perception of change in Pakistan’s foreign policy in the ME in exchange for the KSA’s support.
PTI needs to be more transparent in its decision-making.
Why should PM Khan simply be taken at his word?
“The dollar was traded as low as Rs131.80 in the interbank while it closed at Rs132,” says a currency dealer.
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Stock market registers highest gain in a single session in three-and-a-half years; dollar falls by Rs1.70.
“Now the government won’t need much from the IMF,” claims prime minister.
Package includes $3bn balance of payments support and another $3bn in deferred payments on oil imports.
The Kingdom has also agreed to provide Islamabad a one-year deferred payment facility for import of oil, worth $3bn.
Saudi delegation assures full cooperation for the resolution of problems faced by the energy sector in Pakistan.