ITFC to lend oil worth US$600m to Pakistan

By: News Desk      Published: 11:20 PM, 13 Sep, 2021
ITFC to lend oil worth US$600m to Pakistan

The Islamic Trade Finance Corporation (ITFC) would lend oil worth US$600 million to Pakistan on loan this month, 24News HD TV channel reported on Monday.

According to the details, a virtual meeting between Federal Minister for Economic Affairs Division Omar Ayub Khan and the Chief Executive Officer (CEO) of the ITFC was held here in Islamabad.

In the meeting, they discussed the issue of oil required for Pakistan.

The federal minister said that the ITFC could provide oil worth more than US$1.5 billion annually in Pakistan.

The federal minister said that the bill for the imported oil in Pakistan was high.

Anyhow, he said that the ITFC could also facility Pakistan for the Food Import bill.

While the ITFC chief said that Pakistan was their first priority to facilitate oil and food supply.

Reporter: Waqas Azeem

Categories : Business