ISLAMABAD — Pakistan and the International Trade Finance Corporation (ITFC) of the Islamic Development Bank signed a financing agreement amounting to $386 million for the import of oil and Liquified Natural Gas, LNG.

As per details, the facility will be utilized by Pakistan State Oil Company Limited, PSO, Pakistan Arab Refinery Limited, PARCO, and Pakistan LNG Limited.

The Pakistani side emphasized the importance of this agreement and its role in promoting economic and social development.

In another development, remittances from Pakistanis working in the Kingdom of Saudi Arabia amounted to US$665 million in September this year, registering an increase of 29 percent.

In total, remittances from the Gulf countries and Western countries reached US$2.3 billion in September this year, according to the Central Bank of Pakistan data. — WAM